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Estimating The Opportunity Cost Of Recreation Time In An Integrable 2-Constraint Count Demand Model

Author

Listed:
  • Larson, Douglas M.
  • Lew, Daniel K.
  • Shaikh, Sabina L.

Abstract

How researchers treat the opportunity cost of time substantially influences recreation demand parameter and welfare estimates. This paper presents a utility-theoretic and implementable approach, estimating the shadow value of time jointly with recreation demands for coastal activities, using a generalization of the semilog demand system in a two-constraint model.

Suggested Citation

  • Larson, Douglas M. & Lew, Daniel K. & Shaikh, Sabina L., 2002. "Estimating The Opportunity Cost Of Recreation Time In An Integrable 2-Constraint Count Demand Model," 2002 Annual meeting, July 28-31, Long Beach, CA 19600, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea02:19600
    DOI: 10.22004/ag.econ.19600
    as

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    File URL: http://ageconsearch.umn.edu/record/19600/files/sp02la06.pdf
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    References listed on IDEAS

    as
    1. Jeffrey T. LaFrance, 1986. "The Structure of Constant Elasticity Demand Models," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(3), pages 543-552.
    2. Kling, Catherine L., 1988. "Comparing welfare estimates of environmental quality changes from recreation demand models," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 331-340, September.
    3. Douglas M. Larson & Sabina L. Shaikh, 2001. "Empirical Specification Requirements for Two-Constraint Models of Recreation Choice," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(2), pages 428-440.
    4. Heckman, James J, 1974. "Shadow Prices, Market Wages, and Labor Supply," Econometrica, Econometric Society, vol. 42(4), pages 679-694, July.
    5. Jeffrey T. LaFrance, 1990. "Incomplete Demand Systems And Semilogarithmic Demand Models," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 34(2), pages 118-131, August.
    6. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June.
    Full references (including those not matched with items on IDEAS)

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