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| Author: | Wong, K. K. F. Song, G. Chon, K. S. |
| Title: | Bayesian models for tourism demand forecasting |
| Journal: | Tourism Management
2006 : OCT, VOL. 27:5, p. 773-780 |
| Index terms: | tourism forecasting vector autoregression models bayesian statistics |
| Language: | eng |
| Abstract: | The purpose of this study is to extend the existing forecasting accuracy debate in the tourism literature by analysing whether the forecasting performance of various vector autoregressive (VAR) models can be further improved when they are estimated using the Bayesian approach. Findings show that the Bayesian VAR models invariably outperform their unrestricted VAR counterparts. |
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