The Demand for Cultural Activities: a Time-Use Approach
The aim of this paper is to cast the problem of the alternative between skilled, time-intensive and unskilled activities within an analytical framework wherein the individuals' choice problem is addressed in terms of alternative time-consuming activities rather than alternative bundles of goods and services. In particular, each activity is interpreted as a sort of productive process allowing pleasant time to be produced by consuming 'direct' unpleasant time plus the 'indirect' amount of unpleasant time equivalent to the market goods used up as inputs. The paper suggests that individuals might refrain from engaging in skilled, time-consuming activities because of the attractiveness of a certain, higher present-period rate of return of unskilled activities as opposed to the uncertainty of a possibly higher future-period rate of return obtainable through engagement in (more roundabout) skilled activities.
|Date of creation:||19 Oct 2013|
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- Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
- Sergio Nistic�, 2005. "Consumption and time in economics: prices and quantities in a temporary equilibrium perspective," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 943-957, November.
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