EconPapers    
Economics at your fingertips  
 

Alternative Approaches to Incorporating the Opportunity Cost of Time in Recreation Demand Models

Christopher Azevedo () and John Crooker ()

Working Papers from University of Central Missouri, Department of Economics & Finance

Abstract: The importance of accounting for a respondent’s travel time in recreation demand models is well established. In practice, most analysts use a fixed fraction of the respondent’s wage rate to value travel time. However, other approaches have been suggested in the literature. In this paper revealed and stated preference data on Iowa wetland usage is used to explore various specifications of travel time. It is shown that the choice of a particular specification has a direct impact on welfare estimates as well as the consistency between revealed and stated preference data.

Pages: 29 pages
Date: 2008-05, Revised 2008-05
New Economics Papers: this item is included in nep-lab and nep-tur
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://faculty.ucmo.edu/econfinpapers/wpaper/wp0803.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://faculty.ucmo.edu/econfinpapers/wpaper/wp0803.pdf [302 Found : Moved Temporarily]--> https://faculty.ucmo.edu/econfinpapers/wpaper/wp0803.pdf)

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:umn:wpaper:0803

Access Statistics for this paper

More papers in Working Papers from University of Central Missouri, Department of Economics & Finance Contact information at EDIRC.
Bibliographic data for series maintained by Paul Chambers ().

 
Page updated 2022-08-07
Handle: RePEc:umn:wpaper:0803