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Title: The integer programing extreme value (IPEV) model: An application for estimation of the leisure trip demand
Authors: Kuriyama, Koichi
Shoji, Yasushi
Tsuge, Takahiro
Keywords: demand analysis
utility theory
integer demand
leisure trip demand
Issue Date: 15-Mar-2023
Publisher: Division of Natural Resource Economics, Graduate School of Agriculture, Kyoto University
Journal title: NRE-DP: Natural Resource Economics Discussion Papers
Volume: 2023-01
Start page: 1
End page: 37
Abstract: We developed an integer programing extreme value (IPEV) model that accounts the integer property of trip data and has the same advantages as the multiple discrete–continuous extreme value choice (MDCEV) model. The proposed model is consistent with utility theory and provides a single structural framework for simultaneously modeling the choice of alternatives and quantity decisions with the constraint of the integer value of consumption. We demonstrate that the proposed model has a closed-form probability expression. Finally, we apply the proposed model to the recreation demand for national parks in Japan. The empirical results suggest that the proposed model provides a better fit for the data than the previous model and that ignoring the integer property of demand might cause an underestimation of the welfare loss.
Description: Natural Resource Economics Discussion Papers are preliminary research reports by members of the GSA-NRE Kyoto University circulated for comments and suggestions. They have not been externally peer-reviewed or been subject to the review by the editorial board.
Revised in October 2023
Rights: All rights are reserved by the authors.
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Appears in Collections:NRE-DP: Natural Resource Economics Discussion Papers

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