A Structural Econometric Model of Joint Consumption of Goods and Recreational Time: An Application to Pick‐Your‐Own Fruit
构建了一个结构性计量经济学模型，分析消费者在自采和预采草莓之间的选择，区分时间作为资源约束和提供效用的双重作用，发现自采草莓需求价格弹性低于预采草莓。
Abstract 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.