Model
Digital Document
Publisher
Florida Atlantic University
Description
The purpose of this study is determine what factors could influence an
economic agents' decision to travel or vacation in Florida. This study
measures this decision by analyzing the state Division of Tourism estimates
for visitors in light of changes in; national gross domestic product, non-aviation
gasoline prices, average airfares, and exchange rates. This data
was compiled on a quarterly basis form 1980 to 1993 and analyzed by
employing Translog and Cobb-Douglas demand functional forms for use in
regression analysis. Based upon the regression results, the Cobb-Douglas
functional form best represents what has historically occurred in the real
economic world and follows generally accepted micro-economic demand
theory. The Cobb-Douglas techniques reveal that an economic agents'
future income expectations, measured by GOP levels, has a significant
influence on Florida visitor estimates and has a role in the decision to
vacation in Florida.
economic agents' decision to travel or vacation in Florida. This study
measures this decision by analyzing the state Division of Tourism estimates
for visitors in light of changes in; national gross domestic product, non-aviation
gasoline prices, average airfares, and exchange rates. This data
was compiled on a quarterly basis form 1980 to 1993 and analyzed by
employing Translog and Cobb-Douglas demand functional forms for use in
regression analysis. Based upon the regression results, the Cobb-Douglas
functional form best represents what has historically occurred in the real
economic world and follows generally accepted micro-economic demand
theory. The Cobb-Douglas techniques reveal that an economic agents'
future income expectations, measured by GOP levels, has a significant
influence on Florida visitor estimates and has a role in the decision to
vacation in Florida.
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