In this paper we estimate the demand for rock climbing and calculate welfare measures for changing access to a number of climbs at a climbing area. In addition to the novel recreation application, we extend the travel cost methodology by combining the double hurdle count data model (DH) with a...

Red-light cameras placed at intersections have the potential to increase safety, but they are often viewed as an invasion of privacy. Preferences for these cameras were explored using a stated choice model that presents key attributes of camera placements. Stated choice models involve careful...

Abstract. A traditional assumption made in the literature is that the value of an individual's time spent in any activity is equal to his or her wage rate. This result stems from the derivation of the value of leisure time in the context of the standard labor supply model. This paper presents...

Recreation demand modelers have attempted to identify and incorporate the opportunity cost of an individual's time in travel and on-site in the model. Larson (1993b) focused on the value of leisure time in a model where individuals face a fixed work week. In this paper we examine the connection...

We consider the meaning of the option price, commonly acknowledged as the preferred ex ante welfare measure, in the rank-dependent expected utility (RDEU) framework. The importance of this pertains to performing benefit-cost analysis when RDEU maximizers are prevalent in society.

We devise a simple model of intergenerational altruism under uncertainty. We present an estimable form of the model that relies on a few, plausible, assumptions. We apply the model to data collected in a survey of Southern Nevadans concerning the proposed Yucca Mountain Nuclear Waste Repository...

We explore the distributional consequences of various fee schemes and other policy programs to reduce overfishing in the gulf of Mexico recreational fishery. The econometric model allows the marginal utility of income to vary across three income groups. We find that flat fees have a strong...