DRAFT
May 15, 2002
Estimating The Opportunity Cost of Recreation Time in An
Integrable 2-Constraint Count Demand Model
Douglas M. Larson", Daniel K. Lew, and Sabina L. Shaikh*
May 2002
JEL Classification Codes: J22, Q26
Selected Paper for the Annual Meeting of the
American Agricultural Economics Association
Long Beach, CA
July 28-31, 2002
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.
Copyright 2002 by Douglas Larson, Daniel Lew, and Sabina Shaikh.
All rights reserved. Readers may make verbatim copies of this document for non-commercial
purposes by any means, provided that this copyright notice appears on all such copies.
Larson and Lew: Department of Agricultural and Resource Economics, University of California,
Davis, CA 95616. "Corresponding Author: Phone (530) 752-3586, Fax (530) 752-3586;
email [email protected].
Shaikh: Faculty of Agricultural Sciences, University of British Columbia, Vancouver, B.C.
Canada V6T 1Z4 (604) 822-2144, email [email protected].