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On-Site Time in the Demand for Recreation
K. E. McConnell
American Journal of Agricultural Economics
Vol. 74, No. 4 (Nov., 1992), pp. 918-925
Stable URL: http://www.jstor.org/stable/1243189
Page Count: 8
You can always find the topics here!Topics: Travel expenses, Prices, Demand, Recreation demand, Utility functions, Cost estimates, Budget constraints, Beaches, Cost estimation models, Cost accounting
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The standard travel cost model has treated on-site time ambiguously over the years. This paper shows how to handle on-site time by exploring the implications of two assumptions in the travel cost model: first, people choose the amount of time that they spend on a site, and second, the time spent on-site is exogenous. This paper uses a duality result to show that when on-site time is chosen, the standard travel cost demand function takes a particularly simple form. With slight modification, standard estimation and welfare calculations continue to hold.
American Journal of Agricultural Economics © 1992 Agricultural & Applied Economics Association