The Value of Leisure Time: A Contingent Rating Approach
In this paper, we apply the contingent rating method to the problem of estimating a value for leisure time. This is an important component of recreation demand models. A tradition in this literature has been to use some fixed percentage of the wage rate as the value of time. However, time values are likely to vary across individuals to a greater extent than this suggests, whilst for a given individual time is differently valued according to how it is spent. Empirical results show that there is indeed a wide variation in leisure time values.
Year of publication: |
2001
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Authors: | Alvarez-Farizo, Begona ; Hanley, Nick ; Barberan, Ramon |
Published in: |
Journal of Environmental Planning and Management. - Taylor & Francis Journals, ISSN 0964-0568. - Vol. 44.2001, 5, p. 681-699
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Publisher: |
Taylor & Francis Journals |
Saved in:
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