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Distance Effects in Consumption: Measuring Distance Value with Application to Casino Siting

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  • Grinols, Earl L.

    (University of Illinois, Champaign, Illinois)

Abstract

Inferring the consumer benefits from reduced distance to the product or service provider plays a central role in the cost-benefit analysis of siting decisions, where the relevant issue is reducing the consumer's distance to the nearest supply point rather than reducing prices or the terms of supply. If visit enjoyment declines with distance, increases with expenditure per visit, and expenditure per visit and number of visits per period are choice variables, then a consumer-surplus-like measure serves as an upper bound on distance benefits. The theory is applied to a CES utility function modified to incorporate distance and benchmarked to casino data.

Suggested Citation

  • Grinols, Earl L., 1999. "Distance Effects in Consumption: Measuring Distance Value with Application to Casino Siting," The Review of Regional Studies, Southern Regional Science Association, vol. 29(1), pages 63-76, Summer.
    • Handle: RePEc:rre:publsh:v:29:y:1999:i:1:p:63-76
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    References listed on IDEAS

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    1. Smith, V. Kerry, 1997. "Time and the Valuation of Environmental Resources," Discussion Papers 10485, Resources for the Future.
    2. Kenneth E. McConnell & Ivar Strand, 1981. "Measuring the Cost of Time in Recreation Demand Analysis: An Application to Sportfishing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 63(1), pages 153-156.
    3. Douglas M. Larson, 1993. "Separability and the Shadow Value of Leisure Time," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(3), pages 572-577.
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    Cited by:

    1. Gary A. Wagner & Douglas M. Walker, 2021. "Did video gaming expansion boost municipal revenues in Illinois?," Southern Economic Journal, John Wiley & Sons, vol. 88(2), pages 649-679, October.

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