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Habit Formation And Variety Seeking In A Discrete Choice Model Of Recreation Demand

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  • Adamowicz, Wiktor L.

Abstract

The recreational site choice decision modeled in most economic analyses seldom contains previous experience with the site as a characteristic or attribute. A rational dynamic model is used to incorporate previous experience with the site in a model of the choice of recreation sites. Based on the comparison of dynamic and static models, it is apparent that dynamic elements influence choice. The use of previous consumption as an attribute (either in a naïve or rational form) is an improvement over static models of choice. In welfare analysis, this effect may be a significant factor. For example, a change in prices or quality attributes may have a much larger impact on those individuals who have developed habits.

Suggested Citation

  • Adamowicz, Wiktor L., 1994. "Habit Formation And Variety Seeking In A Discrete Choice Model Of Recreation Demand," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 19(1), pages 1-13, July.
    • Handle: RePEc:ags:jlaare:31237
    DOI: 10.22004/ag.econ.31237
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    References listed on IDEAS

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    1. John P. Rust, 1989. "A Dynamic Programming Model of Retirement Behavior," NBER Chapters, in: The Economics of Aging, pages 359-404, National Bureau of Economic Research, Inc.
    2. Adamowicz, Wiktor L. & Jennings, Sarah & Coyne, Alison, 1990. "A Sequential Choice Model Of Recreation Behavior," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(1), pages 1-9, July.
    3. Vincent G. Munley & V. Kerry Smith, 1976. "Learning-by-Doing and Experience: The Case of Whitewater Recreation," Land Economics, University of Wisconsin Press, vol. 52(4), pages 545-553.
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