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| Author: | Lew, D. K. Larson, D. M. |
| Title: | Accounting for stochastic shadow values of time in discrete-choice recreation demand models |
| Journal: | Journal of Environmental Economics and Management
2005 : SEP, VOL. 50:2, p. 341-361 |
| Index terms: | recreation labour supply |
| Language: | eng |
| Abstract: | This article proposes a discrete-choice recreation demand model that explicitly accounts for a stochastic shadow value of time function. Using data from a survey of San Diego beach users, the stochastic shadow value of time, labour supply and beach choice are jointly estimated, and results are compared with the two-step approach that estimates labour supply first and uses predicted values of time in the recretional site choice model. |
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