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Frequency and time in recreational demand

Author

Listed:
  • Arnar Buason
  • Kristin Eiriksdottir
  • Dadi Kristofersson
  • Kyrre Rickertsen

Abstract

In the standard single-site travel cost model, it is assumed that time spent on-site is exogenous. This assumption results in a willingness to pay (WTP) for time on-site of zero, which may be less realistic for many urban parks that are frequently visited by local residents. We develop a single-site travel cost model where a visitor simultaneously chooses the number of visits and how much time to spend on-site. In this model, the WTP estimate includes the price of the trip and the price of time spent on-site. Next, we develop a two-part hurdle model with non-zero correlation between the number of trips and time spent on-site. We use data gathered in an urban park in Iceland to estimate the model. The estimated WTP values are more than twice as high as the estimates of the standard single-site model.

Suggested Citation

  • Arnar Buason & Kristin Eiriksdottir & Dadi Kristofersson & Kyrre Rickertsen, 2021. "Frequency and time in recreational demand," Journal of Environmental Economics and Policy, Taylor & Francis Journals, vol. 10(1), pages 1-13, January.
    • Handle: RePEc:taf:teepxx:v:10:y:2021:i:1:p:1-13
    DOI: 10.1080/21606544.2020.1738963
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