Phaneuf, Daniel J.; Smith, V. Kerry - In: Handbook of environmental economics : volume 2, Valuing …, (pp. 671-761). 2005
Travel cost recreation demand models stem from a simple, but penetrating, insight. Consumption of an outdoor recreation … costs reflect both people's distances from recreation sites visited and their specific opportunity costs of time. Today …, economic analyses of recreation choices are among the most advanced examples of microeconometric modeling of consumer behavior …
