How Much Is Leisure Worth? Direct Measurement with Contingent Valuation
This paper uses a contingent value survey in a Rocky Mountain city to measure the national income accounting value of leisure activities. Such direct measurement avoids shortcomings of the previously used labor value approach and individually values various types of leisure, e.g., napping and socializing. The results of the study indicate promise for this measurement approach but also raise some issues that require further research. Included are suggestions for overcoming problems discovered with this method and for future research. Copyright Kluwer Academic Publishers 2004
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- Murphy, Martin, 1978. "The Value of Nonmarket Household Production: Opportunity Cost versus Market Cost Estimates," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 24(3), pages 243-55, September.
- Goldschmidt-Clermont, Luisella, 1993. "Monetary Valuation of Non-market Productive Time Methodological Considerations," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 39(4), pages 419-33, December.
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