Date of Award
5-2001
Culminating Project Type
Thesis
Department
Economics
College
School of Public Affairs
First Advisor
William Luksetich
Second Advisor
Richard Sebastian
Third Advisor
Michael White
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 4.0 License.
Keywords and Subject Headings
A pricing study using economic analysis for golf courses in Minnesota
Abstract
This paper reports on an econometric analysis of the demand for rounds of golf at courses in Minnesota. Using data from 105 golf courses in Minnesota, and additional demographic information, this study presents a demand and supply model, including the variables necessary to identify the shifts in both curves, along with the various estimated elasticity's for price, income, population, and course attributes.
Because price is determined simultaneously in both the demand and supply functions, ordinary least squares (OLS) cannot be used to estimate the equation. Instead, two-stage least squares (2SLS) is used to estimate the parameters.
Courses in Minnesota during 1999 appeared to be operating in the inelastic portion of the market demand curve. In conclusion, they may have missed out on additional revenues that could have been derived by simply charging more per round of golf during that year.
Recommended Citation
Larson, Robert W., "Demands on the Northern Links: A Demand Analysis for Rounds of Golf Played in Minnesota" (2001). Culminating Projects in Economics. 27.
https://repository.stcloudstate.edu/econ_etds/27
