Three approaches to time valuation in recreation demand: A study of the Snake River recreation area in eastern Washington

摘要

Three travel cost models are used to estimate non-fishing recreation demand at the Snake River reservoirs recreation area in eastern Washington. The opportunity cost of time is specified in the "traditional" and McConnell-Strand models as a fraction of the exogenous market wage rate and in the two-step decision model as a function of socioeconomic attributes of the recreationists. Benefits per person per trip were $90, $35, and $46 respectively, for the three models. Boaters visit the site more than three times as often as non-boaters resulting in higher annual benefits for boaters.