Possibilities for Including the Opportunity Cost of Time in Recreation Demand Systems
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Recreation demand modelers have attempted to identify and incorporate the opportunity cost of an individual's time in travel and on-site in the model. Larson (1993b) focused on the value of leisure time in a model where individuals face a fixed work week. In this paper we examine the connection between labor supply and recreation demands, and focus on conditional demand systems. We illustrate that corner solution models are not needed to explain several interesting time-related recreation issues. (JEL Q26).
