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A Structural Econometric Model of Joint Consumption of Goods and Recreational Time: An Application to Pick-Your-Own Fruit

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  • Carlos E. Carpio
  • Michael K. Wohlgenant
  • Charles D. Safley

Abstract

This article develops a structural econometric consumer demand model for goods, which have time and monetary costs, and where time spent obtaining the goods also enters into the utility function. The model is used to analyze customers' decision to buy pick-your-own versus preharvested strawberries at North Carolina pick-your-own fruit operations. The analysis distinguishes the effect of time as a resource constraint and time that provides utility. Demand for strawberries sold at the operations is price elastic, and demand for pick-your-own strawberries is less price elastic than demand for preharvested strawberries. Copyright 2008, Oxford University Press.

Suggested Citation

  • Carlos E. Carpio & Michael K. Wohlgenant & Charles D. Safley, 2008. "A Structural Econometric Model of Joint Consumption of Goods and Recreational Time: An Application to Pick-Your-Own Fruit," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 90(3), pages 644-657.
    • Handle: RePEc:oup:ajagec:v:90:y:2008:i:3:p:644-657
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    File URL: http://hdl.handle.net/10.1111/j.1467-8276.2007.01132.x
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    Citations

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    Cited by:

    1. Vickner, Steven S., 2012. "Measuring the Value of Convenience: A Hedonic Pricing Model Approach in the Market for Breakfast Sausages," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124902, Agricultural and Applied Economics Association.
    2. Koji Miyawaki & Yasuhiro Omori & Akira Hibiki, 2018. "A discrete/continuous choice model on a nonconvex budget set," Econometric Reviews, Taylor & Francis Journals, vol. 37(2), pages 89-113, February.
    3. Castro, Marisol & Bhat, Chandra R. & Pendyala, Ram M. & Jara-Díaz, Sergio R., 2012. "Accommodating multiple constraints in the multiple discrete–continuous extreme value (MDCEV) choice model," Transportation Research Part B: Methodological, Elsevier, vol. 46(6), pages 729-743.
    4. Koji Miyawaki & Yasuhiro Omori & Akira Hibiki, 2010. "Discrete/Continuous Choice Model of the Residential Gas Demand on the Nonconvex Budget Set," CIRJE F-Series CIRJE-F-770, CIRJE, Faculty of Economics, University of Tokyo.
    5. Jara-Díaz, Sergio & Rosales-Salas, Jorge, 2017. "Beyond transport time: A review of time use modeling," Transportation Research Part A: Policy and Practice, Elsevier, vol. 97(C), pages 209-230.
    6. Jiaxing Cui & Ruihao Li & Lingyu Zhang & Ying Jing, 2021. "Spatially Illustrating Leisure Agriculture: Empirical Evidence from Picking Orchards in China," Land, MDPI, vol. 10(6), pages 1-20, June.
    7. Steven S. Vickner, 2015. "Estimating the Implicit Price of Convenience: A Hedonic Analysis of the US Breakfast Sausage Market," Agribusiness, John Wiley & Sons, Ltd., vol. 31(2), pages 281-292, April.
    8. Carpio, Carlos E. & Isengildina-Massa, Olga, 2009. "Measuring the Potential Economic Impact of a Regional Agricultural Promotion Campaign: The Case of South Carolina," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46729, Southern Agricultural Economics Association.
    9. Mondal, Aupal & Bhat, Chandra R., 2021. "A new closed form multiple discrete-continuous extreme value (MDCEV) choice model with multiple linear constraints," Transportation Research Part B: Methodological, Elsevier, vol. 147(C), pages 42-66.

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