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Joint Recreation Choices and Implied Values of Time

Listed author(s):
  • Douglas M. Larson
Registered author(s):

    A model of joint recreation quantity choices is developed. Individuals choose both total time spent at distant sites and the number of trips taken, implicitly choosing average on-site time. The model permits nonzero marginal utility of travel, makes on-site time endogenous, and is linear in the constraints. The scarcity value of time is analyzed without assuming the marginal utility of work time is zero. A partially testable assumption about relative marginal values of travel and on-site time yields nonparametric calculations of the scarcity value of time and marginal values of trips and days on-site from people's observed optimal quantity choices.

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    File URL: http://www.jstor.org/stable/pdfplus/3146593
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    Article provided by University of Wisconsin Press in its journal Land Economics.

    Volume (Year): 69 (1993)
    Issue (Month): 3 ()
    Pages: 270-286

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    Handle: RePEc:uwp:landec:v:69:y:1993:i:3:p:270-286
    Contact details of provider: Web page: http://le.uwpress.org/

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