TY - JOUR
T1 - A structural econometric model of joint consumption of goods and recreational time
T2 - An application to pick-your-own fruit
AU - Carpio, Carlos E.
AU - Wohlgenant, Michael K.
AU - Safley, Charles D.
N1 - Funding Information:
Data collection for this research was funded by the North Carolina Department of Agriculture and Consumer Services. The authors thank Daniel Phaneuf, Atsushi Inoue, David Dickey, Nick Piggot, Roger von Haefen, and two anonymous referees for their comments. All remaining errors are ours.
PY - 2008/8
Y1 - 2008/8
N2 - This article develops a structural econometric consumer demand model for goods, which have time and monetary costs, and where time spent obtaining the goods also enters into the utility function. The model is used to analyze customers' decision to buy pick-your-own versus preharvested strawberries at North Carolina pick-your-own fruit operations. The analysis distinguishes the effect of time as a resource constraint and time that provides utility. Demand for strawberries sold at the operations is price elastic, and demand for pick-your-own strawberries is less price elastic than demand for preharvested strawberries.
AB - This article develops a structural econometric consumer demand model for goods, which have time and monetary costs, and where time spent obtaining the goods also enters into the utility function. The model is used to analyze customers' decision to buy pick-your-own versus preharvested strawberries at North Carolina pick-your-own fruit operations. The analysis distinguishes the effect of time as a resource constraint and time that provides utility. Demand for strawberries sold at the operations is price elastic, and demand for pick-your-own strawberries is less price elastic than demand for preharvested strawberries.
KW - Demand analysis
KW - Pick-your-own fruit
KW - Structural econometric model
UR - http://www.scopus.com/inward/record.url?scp=45449110990&partnerID=8YFLogxK
U2 - 10.1111/j.1467-8276.2007.01132.x
DO - 10.1111/j.1467-8276.2007.01132.x
M3 - Article
AN - SCOPUS:45449110990
SN - 0002-9092
VL - 90
SP - 644
EP - 657
JO - American Journal of Agricultural Economics
JF - American Journal of Agricultural Economics
IS - 3
ER -