Valuing a Beach Day with a Repeated Nested Logit Model of Participation, Site Choice, and Stochastic Time Value

Abstract

Beach recreation values are often needed by policy-makers and resource managers to efficiently manage coastal resources, especially in popular coastal areas like Southern California. This article presents welfare values derived from random utility maximization-based recreation demand models that explain an individual’s decisions about whether or not to visit a beach and which beach to visit. The models utilize labor market decisions to reveal each individual’s opportunity cost of recreation time. The value of having access to the beach in San Diego County is estimated to be between $21 and$23 per day.Recreation demand, repeated nested logit, labor supply, opportunity cost of leisure, time, beach recreation., Demand and Price Analysis, Environmental Economics and Policy, Institutional and Behavioral Economics, Q26, J22, Q51.,