Simultaneous modeling of individuals’ duration and expenditure decisions in out-of-home leisure activities |
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| Institution: | 1. Urban Planning Group, Eindhoven University of Technology, PO Box 513, 5600 MB Eindhoven, The Netherlands;2. Faculty of Geosciences, Utrecht University, PO Box 80115, 3508 TC Utrecht, The Netherlands;1. Environmental Engineering and Management Program, School of Environment, Resources and Development, Asian Institute of Technology, P.O. Box 4, Klong Luang, Pathumthani 12120, Thailand;2. Division of Environmental Engineering and Management, Ton Duc Thang University, No. 19 Nguyen Huu Tho Street, Tan Phong Ward, District 7, Ho Chi Minh City 70000, Viet Nam;3. Faculty of Environment and Natural Resources, Ho Chi Minh City University of Technology, 268 Ly Thuong Kiet Street, District 10, Ho Chi Minh City, Viet Nam;1. Indian Institute of Geomagnetism, Shivaji University Campus, Kolhapur 416004, India;2. National Atmospheric Research Laboratory, Pakala Mandal, Gadanki 517112, Andhra Pradesh, India;3. Indian Institute of Geomagnetism, Navi Mumbai 410218, India;4. Department of Physics, Shivaji University, Kolhapur 416004, India;1. School of Chemical Engineering and Technology, Tianjin University, Tianjin 300072, China;2. State Key Laboratory of Chemical Engineering, Tianjin University, China;1. Departamento de Química, Facultad de Ciencias Exactas, Físico-Químicas y Naturales, Universidad Nacional de Río Cuarto, 5800 Río Cuarto, Córdoba, Argentina;2. Departamento de Tecnología Química, Facultad de Ingeniería, Universidad Nacional de Río Cuarto, 5800 Río Cuarto, Córdoba, Argentina |
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| Abstract: | In this paper, we propose an activity model under time and budget constraints to simultaneously predict the allocation of time and money to out-of-home leisure activities. The proposed framework considers the activity episode level, given that the activity is scheduled. Thus, the model considers the decision of the quantities for duration and expenditure spent during the activity. We use a flexible utility function and show how the simultaneous equations can be estimated by using structural equations model (SEM) estimation techniques to handle the endogeneity problem of time and expenditure. The estimation results are based on a large national leisure diary data set collected in 2008 in the Netherlands, which provides detailed information about time and money spent as well as timing and location attributes of the activities. The analysis reveals that socio-demographics, travel party, timing and location variables influence the duration and expenditure of activity episodes. It shows that various socio-demographic groups display different preferences in terms of the time and money spent on activities. The results also indicate substitution relationships between spending more time and money for various activity categories. Thus it is concluded that the analysis provides useful results for a better understanding of combined time and money allocation decisions for leisure activities. |
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| Keywords: | Activity-based model Money budget Time budget Duration Expenditure Structural equation modeling |
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