A Simultaneous Choice Model of Monetary and Time Expenditures, Location, and Frequencies of Discretionary Activities

Abstract

In this study, a simultaneous choice model system of monetary and time expenditures, location, and frequencies of discretionary activities is developed under the hypothesis that an individual attempts to maximize the total utility of engaging in activities, by adjusting the monetary and time expenditures, and frequencies of the activities. Mixing distribution models were combined with Tobit models to estimate the unknown parameters. The model components in the system were estimated sequentially. Estimation results using a data set from Kyoto city revealed the effects on the discretionary activities of the attributes of the individual, the travel circumstances as well as the attributes of the destination locations.