Household Production Theory and Models
AbstractThe chapter focuses on household production theory and models for non-agricultural households, largely in developed countries. The objectives of the paper are: (1) to present several types of microeconomic models of household decision making and highlight their implications for empirical food demand studies and (2) to presents an empirical application of insights gained from household production theory for a household input demand system fitted to unique data on the US household sector over the post-World War II period, 1948-1996. Regarding future research, suggestions are presented as to how food demand studies might build a stronger bridge to new models of household behavior, including a household production function and allocation of the household’s time and full-income constraints.
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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 31634.
Date of creation: 22 Jun 2010
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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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production; Households; models of behavior; input demand system; time allocation;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-07-03 (All new papers)
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