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Consumption time in household production: Implications for the goods-time elasticity of substitution

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Author Info

  • Baral, Ranju
  • Davis, George C.
  • You, Wen

Abstract

Under some reasonable assumptions, we show analytically that the goods-time elasticity of substitution will be greater if consumption time is not included as an input. An empirical example with food production is consistent with this result.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 112 (2011)
Issue (Month): 2 (August)
Pages: 138-140

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Handle: RePEc:eee:ecolet:v:112:y:2011:i:2:p:138-140

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Web page: http://www.elsevier.com/locate/ecolet

Related research

Keywords: Household production Elasticity of substitution American Time Use Survey Food purchases;

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References

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  1. Daniel S. Hamermesh, 2006. "Time to Eat: Household Production Under Increasing Income Inequality," NBER Working Papers 12002, National Bureau of Economic Research, Inc.
  2. Charles Blackorby & Daniel Primont & R. Russell, 2007. "The Morishima gross elasticity of substitution," Journal of Productivity Analysis, Springer, vol. 28(3), pages 203-208, December.
  3. Hamermesh, Daniel S., 2008. "Direct estimates of household production," Economics Letters, Elsevier, vol. 98(1), pages 31-34, January.
  4. Pollak, Robert A & Wachter, Michael L, 1975. "The Relevance of the Household Production Function and Its Implications for the Allocation of Time," Journal of Political Economy, University of Chicago Press, vol. 83(2), pages 255-77, April.
  5. George C. Davis & C. Richard Shumway, 1996. "To Tell the Truth about Interpreting the Morishima Elasticity of Substitution," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 44(2), pages 173-182, 07.
  6. Hamermesh, Daniel S., 2007. "AJAE Appendix: Time to Eat: Household Production Under Increasing Income Inequality," American Journal of Agricultural Economics Appendices, Agricultural and Applied Economics Association, vol. 89(4), November.
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Cited by:
  1. Davis, George C. & You, Wen, 2013. "Estimates of returns to scale, elasticity of substitution, and the thrifty food plan meal poverty rate from a direct household meal production function," Food Policy, Elsevier, vol. 43(C), pages 204-212.

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