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Hedonic Onsight Cost Model of Recreation Demand

  • Craig E. Landry
  • Kenneth E. McConnell

For many recreational activities onsite pecuniary costs can be a significant portion of the cost of a recreational trip. Onsite expenditures, however, often depend upon endogenous quality choices made by the household. We formulate a recreation demand model that formally accounts for household selection of quality of onsite time. Household behavior is constrained by income, prices, and the onsite hedonic price schedule. Assuming complete optimization, a reduced form Marshallian demand curve for recreation trips still results and a specialized version of Roy’s Identity provides a basis for welfare analysis. Instrumenting for endogenous quality choices does not improve demand estimation.

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File URL: http://le.uwpress.org/cgi/reprint/83/2/253
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Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 83 (2007)
Issue (Month): 2 ()
Pages: 253-267

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Handle: RePEc:uwp:landec:v:83:y:2007:i:2:p:253-267
Contact details of provider: Web page: http://le.uwpress.org/

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