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Time and the Valuation of Environmental Resources Author info | Abstract | Publisher info | Download info | Related research | Statistics Smith, V. Kerry
This paper considers the modeling strategies that have been used to incorporate time in revealed and stated preference methods for valuing environmental resources. After reviewing a subset of the economic models for describing time as an input to household production; time in creating habits and persistence in demand for particular services of environmental resources, and time as offering an opportunity for future consumption, the overview suggests that time has been used as a complement in production or consumption to marketed goods in each of these frameworks. The paper suggests two possible alternatives. This structure along with further restrictions to preferences or technology implies that there are other strategies for using revealed preference data to measure the economic value of changes in environmental quality.
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Paper provided by Resources For the Future in its series Discussion Papers with number
dp-98-07.
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Date of creation: 01 Nov 1997Date of revision:
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Michaels, R. Gregory & Smith, V. Kerry, 1990.
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Larson, Douglas M. & Shaikh, Sabina L., 1999.
"An Inverse Demand Approach To Recreation Fishing Site Choice And Implied Marginal Values ,"
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Natalia N. Borisova & Allen C. Goodman, 2003.
"Measuring the value of time for methadone maintenance clients: willingness to pay, willingness to accept, and the wage rate ,"
Health Economics ,
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