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Pareto Optimality in a Becker Model of Time Allocation

Author

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  • A. G. Holtmann
  • Todd L. Idson
  • Qian Ding

Abstract

This paper addresses the question of the consistency of utility maximization in Becker's time allocation model with Pareto optimality. We find that when the general conditions of Pareto optimality are investigated, as opposed to the parochial specification of equal marginal rates of substitution across all individuals, Becker's model does, in fact, support a Pareto optimal allocation.

Suggested Citation

  • A. G. Holtmann & Todd L. Idson & Qian Ding, 1993. "Pareto Optimality in a Becker Model of Time Allocation," The American Economist, Sage Publications, vol. 37(2), pages 37-39, October.
    • Handle: RePEc:sae:amerec:v:37:y:1993:i:2:p:37-39
    DOI: 10.1177/056943459303700206
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    References listed on IDEAS

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    1. 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.
    2. Azzi, Corry & Ehrenberg, Ronald G, 1975. "Household Allocation of Time and Church Attendance," Journal of Political Economy, University of Chicago Press, vol. 83(1), pages 27-56, February.
    3. Kraus, Marvin, 1979. "On Pareto-Optimal Time Allocation," Economic Inquiry, Western Economic Association International, vol. 17(1), pages 142-145, January.
    4. Ehrlich, Isaac, 1973. "Participation in Illegitimate Activities: A Theoretical and Empirical Investigation," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 521-565, May-June.
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