A Method to infer time preference from the value of time

François Gardes ()
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François Gardes: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: Using a generalization of Becker's time allocation model in order to estimate the shadow price of time, we explore the relationship between the inter-temporal substitution rate and the opportunity cost of time, allowing the endogenization of the time preference from the estimation of the value of time.

Keywords: Time Allocation; Inter-temporal substitution rate; psychological rate of interest; Opportunity cost of time (search for similar items in EconPapers)
Date: 2021-03-09
New Economics Papers: this item is included in nep-cwa and nep-tre
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03289200
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Published in 2021

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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:halshs-03289200

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