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Joint Recreation Choices and Implied Values of Time

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  • Douglas M. Larson

Abstract

A model of joint recreation quantity choices is developed. Individuals choose both total time spent at distant sites and the number of trips taken, implicitly choosing average on-site time. The model permits nonzero marginal utility of travel, makes on-site time endogenous, and is linear in the constraints. The scarcity value of time is analyzed without assuming the marginal utility of work time is zero. A partially testable assumption about relative marginal values of travel and on-site time yields nonparametric calculations of the scarcity value of time and marginal values of trips and days on-site from people's observed optimal quantity choices.

Suggested Citation

  • Douglas M. Larson, 1993. "Joint Recreation Choices and Implied Values of Time," Land Economics, University of Wisconsin Press, vol. 69(3), pages 270-286.
    • Handle: RePEc:uwp:landec:v:69:y:1993:i:3:p:270-286
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