TY  - JOUR
AB  - A binary choice model explaining the distribution of holidays abroad undertaken by UK residents is constructed and estimated. The foreign holiday demand function is generated from a comparison of holiday costs and benefits, and stochastic behaviour is permitted. In addition, the effects of incomplete knowledge on holiday choice are incorporated in the model. It is shown that the empirical results support the theoretical framework and that the £50 foreign currency limit imposed by the British Government between 1966 and 1969 resulted in a shift in the distribution of foreign holidays.
VL  - 10
IS  - 1
SN  - 0144-3585
DO  - 10.1108/eb002551
UR  - https://doi.org/10.1108/eb002551
AU  - Witt Stephen P.
PY  - 1983
Y1  - 1983/01/01
TI  - A Binary Choice Model of Foreign Holiday Demand
T2  - Journal of Economic Studies
PB  - MCB UP Ltd
SP  - 46
EP  - 59
Y2  - 2024/04/24
ER  -