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Recreation Demand Choices and Revealed Values of Leisure Time

Author

Listed:
  • Douglas M. Larson
  • Sabina L. Shaikh

Abstract

An approach to jointly estimating an endogenous marginal value of time function and a recreation budget share equation is developed. The specification requirements for the marginal value of time function, to ensure consistency with the maintained hypothesis of two binding constraints on choice, are articulated. The estimating model consistent with these requirements that nests several conventional treatments of the marginal value of time is highly significant. The general endogenous marginal value of time model outperforms other approaches and shows a more complex relationship between the marginal value of time and the individual's wage than has been used in previous work. (JEL J22, Q26) Copyright 2004, Oxford University Press.

Suggested Citation

  • Douglas M. Larson & Sabina L. Shaikh, 2004. "Recreation Demand Choices and Revealed Values of Leisure Time," Economic Inquiry, Western Economic Association International, vol. 42(2), pages 264-278, April.
    • Handle: RePEc:oup:ecinqu:v:42:y:2004:i:2:p:264-278
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    Citations

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    Cited by:

    1. Hisa MORISUGI, 2014. "Measurements of Value of Time and Transportation Benefits by using Observable Demand," ERSA conference papers ersa14p395, European Regional Science Association.
    2. Shigeru Matsumoto, 2014. "Spouses’ time allocation to pro-environmental activities: who is saving the environment at home?," Review of Economics of the Household, Springer, vol. 12(1), pages 159-176, March.
    3. Crooker, John R., 2007. "Nonparametric Bounds on Welfare with Measurement Error in Prices: Techniques for Non-Market Resource Valuation," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 36(2), pages 1-14, October.
    4. Jara-Díaz, Sergio & Rosales-Salas, Jorge, 2017. "Beyond transport time: A review of time use modeling," Transportation Research Part A: Policy and Practice, Elsevier, vol. 97(C), pages 209-230.
    5. 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).
    6. Tadahiro Okuyama, 2023. "A simultaneous valuation model on positive and negative tourism benefits under suppressed consumption," Tourism Economics, , vol. 29(5), pages 1391-1404, August.
    7. 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.
    8. 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.
    9. Larson, Douglas M. & Piennar, Elizabeth, 2004. "Time, Weak Complementarity, and Nonuse Value," 2004 Annual meeting, August 1-4, Denver, CO 271500, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    10. Guang-Zhen Sun & Yew-Kwang Ng, 2009. "The age-dependent value of time: a life cycle analysis," Journal of Economics, Springer, vol. 97(3), pages 233-250, July.
    11. 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.
    12. 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.
    13. Andronis, Lazaros & Maredza, Mandy & Petrou, Stavros, 2019. "Measuring, valuing and including forgone childhood education and leisure time costs in economic evaluation: Methods, challenges and the way forward," Social Science & Medicine, Elsevier, vol. 237(C), pages 1-1.
    14. Kuriyama, Koichi & Shoji, Yasushi & Tsuge, Takahiro, 2020. "The value of leisure time of weekends and long holidays: The multiple discrete–continuous extreme value (MDCEV) choice model with triple constraints," Journal of choice modelling, Elsevier, vol. 37(C).
    15. Okafor, Luke & Yan, Eric, 2022. "Covid-19 vaccines, rules, deaths, and tourism recovery," Annals of Tourism Research, Elsevier, vol. 95(C).
    16. John R. McKean & Donn Johnson & R.G. Taylor, 2014. "Estimating Tournament Effects on Sportfishing Demand," Tourism Economics, , vol. 20(5), pages 1067-1086, October.
    17. Daniel K. Lew & Douglas M. Larson, 2011. "A Repeated Mixed Logit Approach to Valuing a Local Sport Fishery: The Case of Southeast Alaska Salmon," Land Economics, University of Wisconsin Press, vol. 87(4), pages 712-729.
    18. Roberto Martinez-Espineira & Joe Amoako-Tuffour, 2008. "Multi-destination and multi-purpose trip effects in the analysis of the demand for trips to a remote recreational site," EERI Research Paper Series EERI_RP_2008_19, Economics and Econometrics Research Institute (EERI), Brussels.
    19. Edwin Muchapondwa & Eyoual Demeke & Samson Mukanjari, 2018. "Recreation Demand and Optimal Pricing for International Visitors to Kruger National Park," Working Papers 743, Economic Research Southern Africa.
    20. Isabel Mendes & Isabel Proença, 2009. "Measuring the Social Recreation Per-Day Net Benefit of Wildlife Amenities of a National Park: A Count-Data Travel Cost Approach," Working Papers Department of Economics 2009/35, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.

    More about this item

    JEL classification:

    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources

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