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Consumption time in household production: Implications for the goods-time elasticity of substitution

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

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.

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File URL: http://www.sciencedirect.com/science/article/pii/S016517651100098X
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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 112 (2011)
Issue (Month): 2 (August)
Pages: 138-140

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Handle: RePEc:eee:ecolet:v:112:y:2011:i:2:p:138-140
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Hamermesh, Daniel S., 2008. "Direct estimates of household production," Economics Letters, Elsevier, vol. 98(1), pages 31-34, January.
  2. 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.
  3. 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.
  4. 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.
  5. Hamermesh, Daniel S., 2006. "Time to Eat: Household Production under Increasing Income Inequality," IZA Discussion Papers 1965, Institute for the Study of Labor (IZA).
  6. Blackorby, Charles & Primont, Daniel & Russell, R. Robert, 2007. "The Morishima Gross Elasticity of Substitution," The Warwick Economics Research Paper Series (TWERPS) 787, University of Warwick, Department of Economics.
  7. 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.
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