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Satisfactory time use elasticities of demand and measuring well-being inequality through superposed utilities

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Abstract

In this article, the satisfactory consumption and labor supply elasticities of demand are measured through a model of time allocation that includes eight time assignment equations by using the full time use (the temporal values of the monetary expenditure plus time spent) concept obtained by matching the Classic Family Budget survey with the Time Use survey for Turkey. The cross-sectional data covers the period of 2003-2006 in Turkey. The elasticity results show a clear picture of the relationship between satisfactory consumption and working with commodity demands for Turkey. As a contribution to the literature, we explore the reasons behind the demand for satisfactory consumption through working decisions by measuring well-being inequality for each consumption group. In order to increase the robustness of our result, overall well-being inequality is measured by introducing the axiom of superposed utility of preferences. As expected, overall well-being inequality declines to 0.26, which is 119 percentage points lower than the average rate of well-being inequality (0.57) in Turkey

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  • Okay Gunes & Armagan Tuna Aktuna-Gunes, 2015. "Satisfactory time use elasticities of demand and measuring well-being inequality through superposed utilities," Documents de travail du Centre d'Economie de la Sorbonne 15019, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    • Handle: RePEc:mse:cesdoc:15019
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    References listed on IDEAS

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    1. van Praag, Bernard M. S. & Ferrer-i-Carbonell, Ada, 2007. "Happiness Quantified: A Satisfaction Calculus Approach," OUP Catalogue, Oxford University Press, number 9780199226146.
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    6. François Gardes, 2014. "Full price elasticities and the value of time: A tribute to the Beckerian model of the allocation of time," Documents de travail du Centre d'Economie de la Sorbonne 14014, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    7. François Gardes, 2014. "Full price elasticities and the value of time: A Tribute to the Beckerian model of the allocation of time," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00973418, HAL.
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    More about this item

    Keywords

    Time use; life satisfaction; well-being inequality; superposed utilities;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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