Is America’s National Pastime too time consuming?
World Series telecasts are now an inferior good. Income and the time cost of consumption interact so that a ten percent income increase reduces viewership by 1.8 million households. Increased availability of substitutes reduces ratings but increased drama improves them.
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- Raymond B. Palmquist & Daniel J. Phaneuf & V. Kerry Smith, 2007. "Measuring the Values for Time," NBER Working Papers 13594, National Bureau of Economic Research, Inc.
- DeSerpa, A C, 1971. "A Theory of the Economics of Time," Economic Journal, Royal Economic Society, vol. 81(324), pages 828-846, December.
- 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.
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