The Effects of Demographic Variables on Measuring the Cost of Time in Recreation Demand Analysis

The McConnell and Strand Method in evaluating time cost in recreational model requires that the percentage of average income at which individual values recreational time be constant for all sample observations.· We modify the McConnell and Strand model which allows the value of time cost to vary with the individual's demographic characteristics. Economic value estimates of Ohio's Lake Erie private-boat fishing with and without demographic factors are compared. Consumer's surplus is over-estimated when demographic factors are excluded.


Issue Date:
Jul 30 1989
Publication Type:
Conference Paper/ Presentation
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/270498
Language:
English
Total Pages:
13




 Record created 2018-04-03, last modified 2020-10-28

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