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The Value of Leisure Time: A Contingent Rating Approach

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  • Begona Alvarez-Farizo
  • Nick Hanley
  • Ramon Barberan

Abstract

In this paper, we apply the contingent rating method to the problem of estimating a value for leisure time. This is an important component of recreation demand models. A tradition in this literature has been to use some fixed percentage of the wage rate as the value of time. However, time values are likely to vary across individuals to a greater extent than this suggests, whilst for a given individual time is differently valued according to how it is spent. Empirical results show that there is indeed a wide variation in leisure time values.

Suggested Citation

  • Begona Alvarez-Farizo & Nick Hanley & Ramon Barberan, 2001. "The Value of Leisure Time: A Contingent Rating Approach," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 44(5), pages 681-699.
    • Handle: RePEc:taf:jenpmg:v:44:y:2001:i:5:p:681-699
    DOI: 10.1080/09640560120079975
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    Cited by:

    1. Bowker, James Michael & Starbuck, C. Meghan & English, Donald B.K. & Bergstrom, John C. & Rosenberger, Randall S. & McCollum, Daniel W., 2009. "Estimating the Net Economic Value of National Forest Recreation: An Application of the National Visitor Use Monitoring Database," Faculty Series 59603, University of Georgia, Department of Agricultural and Applied Economics.
    2. Tiziana Cuccia & Roberto Cellini, 2007. "Is cultural heritage really important for tourists? A contingent rating study," Applied Economics, Taylor & Francis Journals, vol. 39(2), pages 261-271.
    3. Jara-Díaz, Sergio R. & Munizaga, Marcela A. & Greeven, Paulina & Guerra, Reinaldo & Axhausen, Kay, 2008. "Estimating the value of leisure from a time allocation model," Transportation Research Part B: Methodological, Elsevier, vol. 42(10), pages 946-957, December.
    4. Willmarth, Blake & Turner, Robert, 2010. "Respondent Consistency in a Tournament-Style Contingent Choice Survey," Working Papers 2010-05, Department of Economics, Colgate University.
    5. Jara-Diaz, Sergio, 2020. "Transport and time use: The values of leisure, work and travel," Transport Policy, Elsevier, vol. 86(C), pages 7-13.
    6. 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.
    7. Guy Hutton, Laurence Haller and Jamie Bartram, 2006. "Economic and Health Effects of Increasing Coverage of Low Cost Water and Sanitation Interventions," Human Development Occasional Papers (1992-2007) HDOCPA-2006-33, Human Development Report Office (HDRO), United Nations Development Programme (UNDP).
    8. O'Garra, Tanya & Mourato, Susana & Pearson, Peter, 2008. "Investigating attitudes to hydrogen refuelling facilities and the social cost to local residents," Energy Policy, Elsevier, vol. 36(6), pages 2074-2085, June.

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