Estimating the value of leisure from a time allocation model
AbstractA new approach to calculate the value of leisure is developed and applied. This is derived from a consumer behaviour model that includes goods and activities. A system of time assignment equations is explicitly obtained from which the values of both leisure and work can be analytically calculated using econometrically estimated parameters. This framework is applied using detailed data from three samples in diverse settings: Santiago (Chile), Karlsruhe (Germany), and Thurgau (Switzerland). The empirically estimated values of leisure differ from the wage rate and a theoretical justification is provided.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Transportation Research Part B: Methodological.
Volume (Year): 42 (2008)
Issue (Month): 10 (December)
Contact details of provider:
Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/548/description#description
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Winston, Gordon C., 1987. "Activity choice : A new approach to economic behavior," Journal of Economic Behavior & Organization, Elsevier, vol. 8(4), pages 567-585, December.
- Begona Alvarez-Farizo & Nick Hanley & Ramon Barberan, 2001. "The Value of Leisure Time: A Contingent Rating Approach," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 44(5), pages 681-699.
- Kay Axhausen & Andrea Zimmermann & Stefan Schönfelder & Guido Rindsfüser & Thomas Haupt, 2002. "Observing the rhythms of daily life: A six-week travel diary," Transportation, Springer, vol. 29(2), pages 95-124, May.
- Hélène Couprie, 2007.
"Time allocation within the Family: Welfare implications of life in a couple,"
Royal Economic Society, vol. 117(516), pages 287-305, 01.
- Helene Couprie, 2003. "Time allocation within the family: welfare implications of life in a couple," Labor and Demography 0312003, EconWPA.
- Evans, Alan W, 1972. "On the Theory of the Valuation and Allocation of Time," Scottish Journal of Political Economy, Scottish Economic Society, vol. 19(1), pages 1-17, February.
- Kwangsuck Lee & In-Moo Kim, 2005. "Estimating the value of leisure time in Korea," Applied Economics Letters, Taylor & Francis Journals, vol. 12(10), pages 639-641.
- Juster, F. Thomas, 1990. "Rethinking utility theory," Journal of Behavioral Economics, Elsevier, vol. 19(2), pages 155-179.
- W. Douglass Shaw, 1992. "Searching for the Opportunity Cost of an Individual's Time," Land Economics, University of Wisconsin Press, vol. 68(1), pages 107-115.
- Marcela Munizaga & Sergio Jara-Díaz & Javiera Olguín & Jorge Rivera, 2011. "Generating twins to build weekly time use data from multiple single day OD surveys," Transportation, Springer, vol. 38(3), pages 511-524, May.
- Ahlheim, Michael & Frör, Oliver & Heinke, Antonia & Duc, Nguyen Minh & Dinh, Pham Van, 2010. "Labour as a utility measure in contingent valuation studies: how good is it really?," FZID Discussion Papers 13-2010, University of Hohenheim, Center for Research on Innovation and Services (FZID).
- Benjamin KickhÃ¶fer & Dominik Grether & Kai Nagel, 2011. "Public acceptance and economic evaluation of transport policies (refereed paper)," ERSA conference papers ersa10p1022, European Regional Science Association.
- Tscharaktschiew, Stefan & Hirte, Georg, 2009.
"An urban general equilibrium model with multiple household structures and travel mode choice,"
17697, University Library of Munich, Germany.
- Tscharaktschiew, Stefan & Hirte, Georg, 2009. "An urban general equilibrium model with multiple household structures and travel mode choice," Dresden Discussion Paper Series in Economics 06/09, Dresden University of Technology, Faculty of Business and Economics, Department of Economics.
- Jenelius, Erik & Mattsson, Lars-Göran & Levinson, David, 2011. "Traveler delay costs and value of time with trip chains, flexible activity scheduling and information," Transportation Research Part B: Methodological, Elsevier, vol. 45(5), pages 789-807, June.
- Liping Gao & Hyeongwoo Kim & Yaoqi Zhang, 2013. "On the Effect of the Great Recession on US Household Expenditures for Entertainment," Auburn Economics Working Paper Series auwp2013-09, Department of Economics, Auburn University.
- Ian W.H. Parry & Jon Strand, 2011. "International Fuel Tax Assessment," IMF Working Papers 11/168, International Monetary Fund.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.