Exploring the Value of Time and the Preference for Environmental Attributes for Theme Park Tourists by Using A Random Utility Choice Model: An Application of Mixed Logit Model

On purpose of exploring the temporal replacement coping behavior adopting by individual tourist, this study, based on the household production function proposed by Becker(1965) and according with the modified two-constraints approach including of money cost and time budget proposed by Larson & Shaikh (2001) and Lew & Larson (2005), intends to formulate a Mixed Logit Model of participation time choice for tourists of the Janfushan Theme Park that accounts for the stochastic shadow value of leisure time.

And with the specification of the wage function, the shadow value of leisure time function, and the indirect utility function, a joint estimation procedure would be adopted to explore the difference of the value of leisure time for various status of employment and to what extend it will influence on the individual choice of participation time through the empirical analysis so as to formulate some effective strategies for relaxing the crowding conditions on holidays .