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    <titleInfo>
        <title>Intertemporal Substitution in Travel Cost Models with Seasonal Time Constraints</title>
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    <name type="personal">
        <namePart type="given">Patrick</namePart>
        <namePart type="family">Lloyd‐Smith</namePart>
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    <name type="personal">
        <namePart type="given">Joshua</namePart>
        <namePart type="given">K</namePart>
        <namePart type="family">Abbott</namePart>
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            <roleTerm authority="marcrelator" type="text">author</roleTerm>
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    <name type="personal">
        <namePart type="given">Wiktor</namePart>
        <namePart type="given">L</namePart>
        <namePart type="family">Adamowicz</namePart>
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            <roleTerm authority="marcrelator" type="text">author</roleTerm>
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    <name type="personal">
        <namePart type="given">Daniel</namePart>
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            <title>Land Economics, Volume 96, Issue 3</title>
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            <issuance>continuing</issuance>
            <publisher>University of Wisconsin Press</publisher>
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    <abstract>Travel cost models using the wage rate to value time make the implicit assumption that the value of time is equalized throughout the year. We develop a seasonal travel cost model that allows the value of time to vary by season. We estimate the model using data from a survey of recreational anglers in the Gulf of Mexico. We find that people’s value of time is 55% larger on average in the summer compared to other times of year and find substantial differences in derived welfare estimates if a time-constant value of time measure is used instead.</abstract>
    <identifier type="citekey">Lloyd-Smith-2020-Intertemporal</identifier>
    <identifier type="doi">10.3368/le.96.3.399</identifier>
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        <url>https://gwf-uwaterloo.github.io/gwf-publications/G20-100001</url>
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    <part>
        <date>2020</date>
        <detail type="volume"><number>96</number></detail>
        <detail type="issue"><number>3</number></detail>
        <extent unit="page">
            <start>399</start>
            <end>417</end>
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%0 Journal Article
%T Intertemporal Substitution in Travel Cost Models with Seasonal Time Constraints
%A Lloyd‐Smith, Patrick
%A Abbott, Joshua K.
%A Adamowicz, Wiktor L.
%A Willard, Daniel
%J Land Economics, Volume 96, Issue 3
%D 2020
%V 96
%N 3
%I University of Wisconsin Press
%F Lloyd-Smith-2020-Intertemporal
%X Travel cost models using the wage rate to value time make the implicit assumption that the value of time is equalized throughout the year. We develop a seasonal travel cost model that allows the value of time to vary by season. We estimate the model using data from a survey of recreational anglers in the Gulf of Mexico. We find that people’s value of time is 55% larger on average in the summer compared to other times of year and find substantial differences in derived welfare estimates if a time-constant value of time measure is used instead.
%R 10.3368/le.96.3.399
%U https://gwf-uwaterloo.github.io/gwf-publications/G20-100001
%U https://doi.org/10.3368/le.96.3.399
%P 399-417

Markdown (Informal)

[Intertemporal Substitution in Travel Cost Models with Seasonal Time Constraints](https://gwf-uwaterloo.github.io/gwf-publications/G20-100001) (Lloyd‐Smith et al., GWF 2020)

• Intertemporal Substitution in Travel Cost Models with Seasonal Time Constraints (Lloyd‐Smith et al., GWF 2020)

ACL

• Patrick Lloyd‐Smith, Joshua K. Abbott, Wiktor L. Adamowicz, and Daniel Willard. 2020. Intertemporal Substitution in Travel Cost Models with Seasonal Time Constraints. Land Economics, Volume 96, Issue 3, 96(3):399–417.