A simultaneous valuation model on positive and negative tourism benefits under suppressed consumption

Tadahiro Okuyama

Tourism Economics, 2023, vol. 29, issue 5, 1391-1404

Abstract: This study aims to develop a benefit valuation model with household production under consumption suppressed by self-restraint, as observed during the coronavirus disease 2019 pandemic. This study proposes a model to measure the benefits of the value of time (VOT), value of environmental quality (VOQ), and value of self-restrained consumption (VOS). Numerical simulations show that 1) the benefits can be measured in a single modeling system, 2) the absolute VOS might be larger than the other benefits, 3) the VOS decreases exponentially with an increase in self-restrained consumption, and 4) the VOT may be sensitive to the degrees of the parameter values.

Keywords: tourism demand; self-restraint; benefit valuation; household production function (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:29:y:2023:i:5:p:1391-1404

DOI: 10.1177/13548166221098321

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