Measuring the values for time
By: Raymond B. Palmquist, Daniel J. Phaneuf, V. Kerry Smith
Contributors: Phaneuf, Daniel J. (Daniel James); Smith, V. Kerry; National Bureau of Economic Research
Series: NBER working paper series -- working paper 13594; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 13594.
Publisher: National Bureau of Economic Research
Published: 2007
Place of publication: Cambridge, MA
Language: eng
Format: [electronic resource] /
Description: "Most economic models for time allocation ignore constraints on what people can actually do with their time.  Economists recently have emphasized the importance of considering prior consumption commitments that constrain behavior.  This research develops a new model for time valuation that uses time commitments to distinguish consumers' choice margins and the different values of time these imply.  The model is estimated using a new survey that elicits revealed and stated preference data on household time allocation.  The empirical results support the framework and find an increasing marginal opportunity cost of time as longer time blocks are used"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 11/30/2007.

Includes bibliographical references.

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