EconPapers    
Economics at your fingertips  
 

Short Run Constraints and the Increasing Marginal Value of Time in Recreation

Raymond B. Palmquist, Daniel Phaneuf and V. Kerry Smith

No 14986, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Leisure activities such as local recreation trips usually take place in discrete blocks of time that are surrounded by time devoted to other commitments. It can be costly to transfer time between blocks to allow for longer outings. These observations affect the value of time within those blocks and suggest that traditional methods for valuing time using labor markets miss important considerations. This paper presents a new model for time valuation that uses non-employment time commitments to infer the shadow value of time spent in recreation. A unique survey that elicited revealed and stated preference data on household time allocation is used to implement the model. The results support the conclusion that there is an increasing marginal value of time for recreation as the trip length increases.

JEL-codes: D13 J22 Q26 (search for similar items in EconPapers)
Date: 2009-05
New Economics Papers: this item is included in nep-lab
Note: EEE
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published as Raymond Palmquist & Daniel Phaneuf & V. Smith, 2010. "Short Run Constraints and the Increasing Marginal Value of Time in Recreation," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 46(1), pages 19-41, May.

Downloads: (external link)
http://www.nber.org/papers/w14986.pdf (application/pdf)

Related works:
Journal Article: Short Run Constraints and the Increasing Marginal Value of Time in Recreation (2010) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:14986

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w14986

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().

 
Page updated 2025-03-24
Handle: RePEc:nbr:nberwo:14986