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  • Intertemporal substitution in travel cost models with seasonal time constraints.

    Author(s) : Lloyd-Smith, P.Abbott, J. K.Adamowicz, W.Willard, D.

    Author Affiliation : Department of Agricultural and Resource Economics and Global Institute for Water Security, University of Saskatchewan, Saskatoon, Saskatchewan, Canada.

    Author Email : patrick.lloydsmith@usask.cajoshua.k.abbott@asu.eduvic.adamowicz@ualberta.cadwillard@edf.org

    Journal article : Land Economics 2020 Vol.96 No.3 pp.399-417

    Abstract : Travel cost modelsmodelsSubject Category: Techniques, Methodologies and Equipment
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    using the wage rate to value timetimeSubject Category: Miscellaneous
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    make the implicit assumption that the value of time is equalized throughout the year. We develop a seasonal travel cost model that allows the value of time to vary by season. We estimate the model using data from a survey of recreational anglers in the Gulf of Mexicogulf of mexicoSubject Category: Geographic Entities
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    . We find that people's value of time is 55% larger on average in the summer compared to other times of year and find substantial differences in derived welfare estimates if a time-constant value of time measure is used instead.

    ISSN : 0023-7639

    DOI : 10.3368/le.96.3.399

    Record Number : 20203326409

    Publisher : University of Wisconsin Press

    Location of publication : Madison

    Country of publication : USA

    Language of text : English

    Indexing terms for this abstract:

    Descriptor(s) : timetimeSubject Category: Miscellaneous
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    , valuationvaluationSubject Category: Techniques, Methodologies and Equipment
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    , anglinganglingSubject Category: Activities
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    , seasonal variationseasonal variationSubject Category: Properties
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    , modelsmodelsSubject Category: Techniques, Methodologies and Equipment
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    Identifier(s) : sport fishing, seasonal changes, seasonal fluctuations

    Geographical Location(s) : Gulf of Mexicogulf of mexicoSubject Category: Geographic Entities
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    Broader term(s) : Western Central Atlanticwestern central atlanticSubject Category: Geographic Entities
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    , Atlantic Oceanatlantic oceanSubject Category: Geographic Entities
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