A Two-Constraint Almost Ideal Demand Model of Recreation and Donations

• Autores: Sabina L. Shaikh, Douglas M. Larson
• Localización: The Review of economics and statistics, ISSN 0034-6535, Vol. 85, Nº 4, 2003, págs. 953-961
• Idioma: inglés
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• Resumen

  • An incomplete demand system is developed for recreation and donation choices, subject to both money and time constraints. The model results in a three-good system, with an endogenous marginal value of time for estimation. The model is implemented by adapting Deaton and Muellbauer¿s locally flexible almost ideal demand system to a twoconstraint recreation model of trips and donations of California whale watchers. Exact welfare measures are calculated for changes in costs, as well as for whale population changes. Results indicate a use and a nonuse component of overall willingness to pay for increases in environmental quality.