Can consumption of convenience products reveal the opportunity cost of time?
I examine how people's consumption of time-saving products can be used to estimate the shadow value of time. I use a household production model to motivate an empirical approach that can be implemented using survey data.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Raymond Palmquist & Daniel Phaneuf & V. Smith, 2010.
"Short Run Constraints and the Increasing Marginal Value of Time in Recreation,"
Environmental & Resource Economics,
Springer;European Association of Environmental and Resource Economists, vol. 46(1), pages 19-41, May.
- Raymond B. Palmquist & Daniel J. Phaneuf & V. Kerry Smith, 2009. "Short Run Constraints and the Increasing Marginal Value of Time in Recreation," NBER Working Papers 14986, National Bureau of Economic Research, Inc.
- Donald, Stephen G. & Hamermesh, Daniel S., 2009. "A structural model of the fixed time costs of market work," Economics Letters, Elsevier, vol. 104(3), pages 125-128, September.
- Feather, Peter M & Shaw, W Douglas, 2000. "The Demand for Leisure Time in the Presence of Constrained Work Hours," Economic Inquiry, Western Economic Association International, vol. 38(4), pages 651-661, October.
- Heckman, James J, 1974. "Shadow Prices, Market Wages, and Labor Supply," Econometrica, Econometric Society, vol. 42(4), pages 679-694, July.
When requesting a correction, please mention this item's handle: RePEc:eee:ecolet:v:113:y:2011:i:1:p:92-95. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.