Valuing Time in Travel Cost Demand Analysis: An Empirical Investigation

John R. McKean, Donn M. Johnson and Richard G. Walsh

Land Economics, 1995, vol. 71, issue 1, 96-105

Abstract: The opportunity cost of time is usually a significant part of the price variable in the travel cost demand model. Thus, its accurate measurement is important to the estimation of demand and benefit valuation for nonmarket resources. This paper empirically tests models which assume that income is the basis for opportunity time cost with an alternative "pooled" model based on a disequilibrium labor market for some recreationists. Acceptance of the hypothesis that disequilibrium models may be necessary for some individuals implies increased survey information requirements so that the appropriate model can be applied to each individual.

Date: 1995
References: Add references at CitEc
Citations: View citations in EconPapers (39)

Downloads: (external link)
http://www.jstor.org/stable/pdfplus/3146761
A subscription is required to access pdf files. Pay per article is available.

Related works:
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:uwp:landec:v:71:y:1995:i:1:p:96-105

Access Statistics for this article

More articles in Land Economics from University of Wisconsin Press
Bibliographic data for series maintained by ().