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Revealing Preferences for Leisure Time from Stated Preference Data

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  • Douglas M. Larson
  • Sabina L. Shaikh
  • DavidF. Layton

Abstract

When consumer choice is constrained by time as well as money, willingness to pay can be defined with respect to either numeraire. The two measures can be related formally within a utility-consistent model of choice subject to two constraints. Furthermore, when information is collected on both, the respondent's marginal value of time can be identified. A system of willingness to pay time and money and the marginal value of leisure time is estimated jointly in an application to California whalewatching and whale stock enhancement. The empirical approach can be applied with only minor additions to survey techniques for nonmarket valuation. Copyright 2004, Oxford University Press.

Suggested Citation

  • Douglas M. Larson & Sabina L. Shaikh & DavidF. Layton, 2004. "Revealing Preferences for Leisure Time from Stated Preference Data," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(2), pages 307-320.
    • Handle: RePEc:oup:ajagec:v:86:y:2004:i:2:p:307-320
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    File URL: http://hdl.handle.net/10.1111/j.0092-5853.2004.00580.x
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    Citations

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    Cited by:

    1. Lew, Daniel K. & Larson, Douglas M., 2005. "Accounting for stochastic shadow values of time in discrete-choice recreation demand models," Journal of Environmental Economics and Management, Elsevier, vol. 50(2), pages 341-361, September.
    2. Mikołaj Czajkowski & Marek Giergiczny & Jakub Kronenberg & Jeffrey Englin, 2019. "The Individual Travel Cost Method with Consumer-Specific Values of Travel Time Savings," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(3), pages 961-984, November.
    3. Larson, Douglas M. & Lew, Daniel K., 2005. "Measuring the utility of ancillary travel: revealed preferences in recreation site demand and trips taken," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(2-3), pages 237-255.
    4. Siikamäki, Juha, 2009. "Use of Time for Outdoor Recreation in the United States, 1965-2007," RFF Working Paper Series dp-09-18, Resources for the Future.
    5. Mai-Thi Ta & Léa Tardieu & Harold Levrel, 2022. "Characterizing the Demand Side of Urban Greening to Inform Urban Planning – A Discrete Choice Experiment in the Paris Metropolitan Region," Revue d'économie politique, Dalloz, vol. 132(6), pages 907-949.
    6. Thierry Kalisa, 2013. "Rural Electrification in Rwanda : A Measure of Willingness to Contribute Time and Money," Working Papers halshs-00963525, HAL.
    7. Ando, Amy W. & Cadavid, Catalina Londoño & Netusil, Noelwah R. & Parthum, Bryan, 2020. "Willingness-to-volunteer and stability of preferences between cities: Estimating the benefits of stormwater management," Journal of Environmental Economics and Management, Elsevier, vol. 99(C).
    8. Vondolia, Godwin K. & Navrud, Ståle, 2019. "Are non-monetary payment modes more uncertain for stated preference elicitation in developing countries?," Journal of choice modelling, Elsevier, vol. 30(C), pages 73-87.
    9. Thierry Kalisa, 2014. "Rural Electrification in Rwanda: A Measure of Willingness to Contribute Time and Money," Working Papers 1413, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    10. John C. Whitehead & Subhrendu K. Pattanayak & George L. Van Houtven & Brett R. Gelso, 2008. "Combining Revealed And Stated Preference Data To Estimate The Nonmarket Value Of Ecological Services: An Assessment Of The State Of The Science," Journal of Economic Surveys, Wiley Blackwell, vol. 22(5), pages 872-908, December.
    11. Sutton, William R. & Larson, Douglas M. & Jarvis, Lovell S., 2004. "A New Approach For Assessing The Costs Of Living With Wildlife In Developing Countries," Working Papers 11951, University of California, Davis, Department of Agricultural and Resource Economics.
    12. Chen, Kee-Kuo & Ho, Hui-Ping & Chang, Ching-Ter, 2015. "Estimating attributes importance for container shipping industry by closing the listening gap with maximum convergent validity," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 79(C), pages 145-163.
    13. Kipperberg, Gorm & Larson, Douglas M., 2005. "Paying For A Public Good In Money Or Time: Is There A Fundamental Difference? An Investigation Of Consumers' Preferences For Community-Wide Recycling," 2005 Annual meeting, July 24-27, Providence, RI 19223, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    14. Kevin Berry & Jude Bayham & Spencer R. Meyer & Eli P. Fenichel, 2018. "The Allocation of Time and Risk of Lyme: A Case of Ecosystem Service Income and Substitution Effects," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 70(3), pages 631-650, July.

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