The value of time and expenditures of rural households in Burkina Faso: a domestic production framework
We use a unique survey of rural households in Burkina Faso which contains both disaggregated household's expenditures and time uses for nine domestic activities. This allows us to estimate the opportunity cost of time using a Beckerian model of domestic production based on a direct utility depending on activities which are home produced with market goods and time. Proxies for full prices of domestic activities allow to recover full income and full price elasticities as well as elasticities with respect to the monetary prices and time use costs. Finally, inequality is found to be smaller when measured by full income compared to inequality of household's monetary incomes
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