IDEAS home Printed from https://ideas.repec.org/p/hal/journl/halshs-03289200.html
   My bibliography  Save this paper

A Method to infer time preference from the value of time

Author

Listed:
  • François Gardes

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

Using a generalization of Becker's time allocation model in order to estimate the shadow price of time, we explore the relationship between the inter-temporal substitution rate and the opportunity cost of time, allowing the endogenization of the time preference from the estimation of the value of time.

Suggested Citation

  • François Gardes, 2021. "A Method to infer time preference from the value of time," Post-Print halshs-03289200, HAL.
    • Handle: RePEc:hal:journl:halshs-03289200
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03289200
    as

    Download full text from publisher

    File URL: https://shs.hal.science/halshs-03289200/document
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Carla Canelas & François Gardes & Philip Merrigan & Silvia Salazar, 2019. "Are time and money equally substitutable for all commodity groups in the household’s domestic production?," Review of Economics of the Household, Springer, vol. 17(1), pages 267-285, March.
    2. François Gardes, 2019. "The Estimation of Price Elasticities and the Value of Time in a Domestic Production Framework: an Application using French Micro-Data," Annals of Economics and Statistics, GENES, issue 135, pages 89-120.
    3. Mark Aguiar & Erik Hurst, 2007. "Measuring Trends in Leisure: The Allocation of Time Over Five Decades," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 122(3), pages 969-1006.
    4. Reuben Gronau & Daniel S. Hamermesh, 2006. "Time Vs. Goods: The Value Of Measuring Household Production Technologies," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 52(1), pages 1-16, March.
    5. François Gardes, 2018. "On the value of time and human life," Documents de travail du Centre d'Economie de la Sorbonne 18028, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    6. François Gardes, 2019. "The Estimation of Price Elasticities and the Value of Time in a Domestic Production Framework: an Application using French Micro-Data," PSE-Ecole d'économie de Paris (Postprint) hal-03281830, HAL.
    7. François Gardes, 2018. "On the value of time and human life," Post-Print halshs-01903596, HAL.
    8. François Gardes, 2019. "The Estimation of Price Elasticities and the Value of Time in a Domestic Production Framework: an Application using French Micro-Data," Post-Print hal-03281830, HAL.
    9. François Gardes, 2019. "The Estimation of Price Elasticities and the Value of Time in a Domestic Production Framework: an Application using French Micro-Data," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-03281830, HAL.
    10. François Gardes, 2018. "On the value of time and human life," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01903596, HAL.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. François Gardes, 2021. "An Austrian Trade Cycle model with an Endogenous Value of Time," Documents de travail du Centre d'Economie de la Sorbonne 21025, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    2. François Gardes, 2021. "A Method to infer time preference from the value of time," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-03289200, HAL.
    3. François Gardes, 2021. "An Austrian Trade Cycle model with an Endogenous Value of Time," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-03325379, HAL.
    4. François Gardes, 2021. "An Austrian Trade Cycle model with an Endogenous Value of Time," Post-Print halshs-03325379, HAL.
    5. François Gardes, 2021. "On the value of time and human life," Documents de travail du Centre d'Economie de la Sorbonne 21023, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    6. François Gardes, 2021. "On the value of time and human life," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-03325332, HAL.
    7. François Gardes, 2021. "On the value of time and human life," Post-Print halshs-03325332, HAL.
    8. François Gardes, 2021. "Endogenous Prices in a Riemannian Geometry Framework," Documents de travail du Centre d'Economie de la Sorbonne 21026, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    9. François Gardes, 2021. "Biases on variances estimated on large data-sets," Post-Print halshs-03325118, HAL.
    10. François Gardes, 2021. "Biases on variances estimated on large data-sets," Documents de travail du Centre d'Economie de la Sorbonne 21022, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    11. Karanfil, Fatih & Pierru, Axel, 2021. "The opportunity cost of domestic oil consumption for an oil exporter: Illustration for Saudi Arabia," Energy Economics, Elsevier, vol. 96(C).
    12. François Gardes, 2021. "Biases on variances estimated on large data-sets," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-03325118, HAL.
    13. François Gardes, 2019. "The Estimation of Price Elasticities and the Value of Time in a Domestic Production Framework: an Application using French Micro-Data," Post-Print hal-01478052, HAL.
    14. François Gardes, 2019. "The Estimation of Price Elasticities and the Value of Time in a Domestic Production Framework: an Application using French Micro-Data," PSE-Ecole d'économie de Paris (Postprint) hal-01478052, HAL.
    15. François Gardes, 2019. "The Estimation of Price Elasticities and the Value of Time in a Domestic Production Framework: an Application using French Micro-Data," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01478052, HAL.
    16. François Gardes, 2021. "Endogenous Prices in a Riemannian Geometry Framework," Post-Print halshs-03325414, HAL.
    17. Scharadin, Benjamin, 2022. "The efficacy of the dependent care deduction at maintaining diet quality," Food Policy, Elsevier, vol. 107(C).
    18. Benjamin Bridgman, 2016. "Engines of Leisure," BEA Working Papers 0137, Bureau of Economic Analysis.
    19. Kawaguchi, Daiji & Lee, Jungmin & Hamermesh, Daniel S., 2013. "A gift of time," Labour Economics, Elsevier, vol. 24(C), pages 205-216.
    20. Hamermesh, Daniel S. & Biddle, Jeff E., 2018. "Taking Time Use Seriously: Income, Wages and Price Discrimination," IZA Discussion Papers 11997, Institute of Labor Economics (IZA).

    More about this item

    Keywords

    Time Allocation; Inter-temporal substitution rate; psychological rate of interest; Opportunity cost of time;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-03289200. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.