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The demand for site-specific recreational activities : a characterics approach

University of British Columbia

A model of constrained utility maximizing behaviour is developed to explain how a representative individual allocates his ski days amongst alternative sites. The physical characteristics of the ski areas and the individual's skiing ability are explicit arguments in the utility function; the budget allocation is given along with the parametric costs to ski (including travel costs, entrance fees, equipment costs and the opportunity cost of his time). Shares (a site's share being the proportion of ski days that the individual spends at that site) are derived and assumed multinomially distributed, a stochastic specification which maintains the inherent properties of the shares. Maximum likelihood estimation confirms the basic hypothesis that costs, ability and characteristics all are important determinants of the sites' shares.

Text

2010-03-01

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http://hdl.handle.net/2429/21248

Economics

University of British Columbia

Graduate