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Is Outdoor Recreation a Giffen Good?

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  • Larson, Douglas M.
  • Johnston, Richard S.

Abstract

Time-intensive goods like outdoor recreation are likely candidates for Giffen behavior when money price changes. For choices with binding money and time constraints, observable conditions for a good to be Giffen are developed. Model specifications and omitted variable biases are likely reasons why no Giffen recreation goods have been found.

Suggested Citation

  • Larson, Douglas M. & Johnston, Richard S., 1992. "Is Outdoor Recreation a Giffen Good?," 1992 Annual Meeting, August 9-12, Baltimore, Maryland 271390, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea92:271390
    DOI: 10.22004/ag.econ.271390
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    References listed on IDEAS

    as
    1. Gilley, Otis W & Karels, Gordon V, 1991. "In Search of Giffen Behavior," Economic Inquiry, Western Economic Association International, vol. 29(1), pages 182-189, January.
    2. Battalio, Raymond C & Kagel, John H & Kogut, Carl A, 1991. "Experimental Confirmation of the Existence of a Giffen Good," American Economic Review, American Economic Association, vol. 81(4), pages 961-970, September.
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    5. DeSerpa, A C, 1971. "A Theory of the Economics of Time," Economic Journal, Royal Economic Society, vol. 81(324), pages 828-846, December.
    6. Dougan, William R, 1982. "Giffen Goods and the Law of Demand," Journal of Political Economy, University of Chicago Press, vol. 90(4), pages 809-815, August.
    7. V. Kerry Smith & William H. Desvousges & Matthew P. McGivney, 1983. "The Opportunity Cost of Travel Time in Recreation Demand Models," Land Economics, University of Wisconsin Press, vol. 59(3), pages 259-278.
    8. Jack L. Knetsch, 1963. "Outdoor Recreation Demands and Benefits," Land Economics, University of Wisconsin Press, vol. 39(4), pages 387-396.
    9. Silberberg, Eugene & Walker, Donald A, 1984. "A Modern Analysis of Giffen's Paradox," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 25(3), pages 687-694, October.
    10. Frank J. Cesario, 1976. "Value of Time in Recreation Benefit Studies," Land Economics, University of Wisconsin Press, vol. 52(1), pages 32-41.
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