ENDOGENOUS ON-SITE TIME IN THE RECREATION DEMAND MODEL
Matthew D. Berman and
Hong Jin Kim
No 21616, 1999 Annual meeting, August 8-11, Nashville, TN from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
Careful modeling of on-site time may substantially improve estimates of the benefits of recreational visits using the travel cost method, especially when on-site time is endogenous. This paper reviews the theory of endogenous on-site time, and shows how the theory may apply to the Random Utility Model (RUM). An empirical example of sport fishing in Southcentral Alaska under varying specifications of on-site time is presented.
Keywords: Research Methods/ Statistical Methods; Resource /Energy Economics and Policy (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea99:21616
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