摘要：In this paper, we propose a method of determining the opportunity cost of leisuretime with an empirical recreation demand application. Typically, the opportunity cost ofleisure time is assumed to be some fraction of the wage rate. This practice haslimitations. First , it assumes that individuals can trade time for money at their wage.Second, it offers no guidance as to how to value the time of an individual who is not inthe labor force. This paper proposes a method of determining this cost that doesn'tsuffer from these drawbacks. An empirical example is provided which demonstrates theproposed approach and contrasts it with commonly applied approaches.
