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The Value of Leisure Time: A Contingent Rating Approach

  • Begona Alvarez-Farizo
  • Nick Hanley
  • Ramon Barberan

In this paper, we apply the contingent rating method to the problem of estimating a value for leisure time. This is an important component of recreation demand models. A tradition in this literature has been to use some fixed percentage of the wage rate as the value of time. However, time values are likely to vary across individuals to a greater extent than this suggests, whilst for a given individual time is differently valued according to how it is spent. Empirical results show that there is indeed a wide variation in leisure time values.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/09640560120079975
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Article provided by Taylor & Francis Journals in its journal Journal of Environmental Planning and Management.

Volume (Year): 44 (2001)
Issue (Month): 5 ()
Pages: 681-699

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Handle: RePEc:taf:jenpmg:v:44:y:2001:i:5:p:681-699
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