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Consumption Time in Household Production: Implications for the Goods-Time Elasticity of Substitution

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

Abstract

The relationship between the goods-time elasticity of substitution with consumption time as an input and the goods-time elasticity of substitution without consumption time as an input is derived analytically. Under some reasonable assumptions, the goods-time elasticity of substitution is shown to be greater if consumption time is not included as an input. An empirical example of food production for single headed households is consistent with this result and indicates the goods-time elasticity of substitution is about 60% greater when consumption time is not included as an input than when it is included.

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Bibliographic Info

Paper provided by Agricultural and Applied Economics Association in its series 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado with number 61184.

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Date of creation: 2010
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Handle: RePEc:ags:aaea10:61184

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Keywords: Household Production; Elasticity of Substitution; Time Use; Food Purchases; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety;

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References

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  1. 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.
  2. 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.
  3. Daniel S. Hamermesh, 2006. "Time to Eat: Household Production Under Increasing Income Inequality," NBER Working Papers 12002, National Bureau of Economic Research, Inc.
  4. 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.
  5. 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.
  6. Hamermesh, Daniel S., 2008. "Direct estimates of household production," Economics Letters, Elsevier, vol. 98(1), pages 31-34, January.
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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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