Joint Recreation Choices and Implied Values of Time

Douglas M. Larson

Land Economics, 1993, vol. 69, issue 3, 270-286

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.

Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:landec:v:69:y:1993:i:3:p:270-286

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