Abstract
Time and distance are of course highly correlated. But they are entered separately because of their different roles in the individual's constraint set and maximization problem. Distance affects out-of-pocket monetary travel cost while the time cost of travel to the site is an opportunity cost whose monetary value may not be directly observable. Time spent on the site also has an opportunity cost. The separate roles of time and monetary cost, and their importance in the estimation of recreation demand and benefits will be discussed.
