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A Simple Repackaging Model of Recreational Choices
Author(s) -
Wilman Elizabeth A.
Publication year - 1987
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1241695
Subject(s) - simple (philosophy) , constant (computer programming) , variable (mathematics) , trips architecture , recreation , marginal utility , marginal cost , demand curve , value (mathematics) , econometrics , computer science , economics , mathematical economics , statistics , operations research , mathematics , microeconomics , mathematical analysis , philosophy , epistemology , parallel computing , political science , law , programming language
The traditional travel cost model uses trips (or visits) as its measure of quantity and travel cost per trip (or visit) as its price. However, because many estimated demand curves do not hold visit length constant, they cannot be used to value increments of use. The simple repackaging model of Muellbauer, and Fisher and Shell is used to derive demand curves exhibiting constant visit length from demand curves exhibiting variable visit length. The former allow the marginal quantity valuations that are necessary for management decisions involving capacity or use.