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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

Under some reasonable assumptions, we show analytically that the goods-time elasticity of substitution will be greater if consumption time is not included as an input. An empirical example with food production is consistent with this result.

Suggested Citation

  • Baral, Ranju & Davis, George C. & You, Wen, 2011. "Consumption time in household production: Implications for the goods-time elasticity of substitution," Economics Letters, Elsevier, vol. 112(2), pages 138-140, August.
  • Handle: RePEc:eee:ecolet:v:112:y:2011:i:2:p:138-140
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    References listed on IDEAS

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    1. 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. 0(Number 4), pages 1-8, November.
    2. Murphy, Kevin M & Topel, Robert H, 2002. "Estimation and Inference in Two-Step Econometric Models," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(1), pages 88-97, January.
    3. 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.
    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, July.
    5. Hamermesh, Daniel S., 2008. "Direct estimates of household production," Economics Letters, Elsevier, vol. 98(1), pages 31-34, January.
    6. 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 255-277, April.
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    Cited by:

    1. Daniel Kuehn, 2016. "Home Production, House Values, and the Great Recession," Journal of Family and Economic Issues, Springer, vol. 37(1), pages 99-114, March.
    2. Carla Canelas & François Gardes & Philip Merrigan, 2014. "Are Time and Money Equally Substitutable for All Commodity Groups in the Household's Domestic Production?," Documents de travail du Centre d'Economie de la Sorbonne 14071, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    3. Tamar Khitarishvili & Fernando Rios Avila & Kijong Kim, 2015. "Direct Estimates of Food and Eating Production Function Parameters for 2004–12 Using an ATUS/CE Synthetic Dataset," Economics Working Paper Archive wp_836, Levy Economics Institute.
    4. 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.
    5. Carla Canelas & François Gardes & Philip Merrigan & Silvia Salazar, 2014. "Are Time and Money Equally Substitutable for All Commodity Groups in the Household's Domestic Production?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01112620, HAL.
    6. George Davis, 2014. "Food at home production and consumption: implications for nutrition quality and policy," Review of Economics of the Household, Springer, vol. 12(3), pages 565-588, September.

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