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ESTIMATING THE OPPORTUNITY COST OF RECREATION TIME IN AN INTEGRABLE 2-CONSTRAINT COUNT DEMAND MODEL

By Douglas M. Larson, Daniel K. Lew and Sabina L. Shaikh

Abstract

How researchers treat the opportunity cost of time substantially influences recreation demand parameter and welfare estimates. This paper presents a utility-theoretic and implementable approach, estimating the shadow value of time jointly with recreation demands for coastal activities, using a generalization of the semilog demand system in a two-constraint model.Consumer/Household Economics, Demand and Price Analysis,

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