The value of time in recreation benefit studies

This paper examines the role of time costs—both on-site and travel—in models describing recreation behavior, and draws implications for the travel-cost approach to recreation site benefit estimation. The analysis shows that both recreation and travel time are costly. The latter can be valued in terms of its scarcity value, but the former may be most appropriately valued in terms of the “alue of travel time saved.” Although there are cases in which on-site time costs need not be explicitly considered in recreation benefit models, it is not clear such cases are the rule rather than the exception. Suggestions are made for measuring on-site and travel time costs.