Abstract
The opportunity cost of time is usu- ally a significant part of the price variable in the travel cost demand model. Thus, its accurate mea- surement is important to the estimation of demand and benefit valuation for nonmarket resources. This paper empirically tests models which assume that income is the basis for opportunity time cost with an alternative pooled model based on a disequi- librium labor market for some recreationists. Ac- ceptance of the hypothesis that disequilibrium mod- els may be necessary for some individuals implies increased survey information requirements so that the appropriate model can be applied to each indi- vidual. (JEL Q21)
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