Estimating a System of Recreation Demand Functions Using a Seemingly Unrelated Poisson Regression Approach.

In this article, a seemingly unrelated Poisson regression model is presented as an alternative to using Zellner's seemingly unrelated regression model for estimating a system of recreation demand functions. The seemingly unrelated Poisson regression model provides estimates that are asymptotically more efficient than equation-by-equation Poisson estimates and circumvents the bias and inconsistency problems that result when using A. Zellner's seemingly unrelated regression model. Additionally, the seemingly unrelated Poisson regression model is applied to an empirical problem dealing with the value of recreational boating and the findings indicate that the seemingly unrelated regression model consumer surplus estimates are substantially different from those of the seemingly unrelated Poisson regression model. Copyright 1994 by MIT Press.