A Method to infer time preference from the value of time
François Gardes (gardes@univ-paris1.fr)
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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
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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-isf
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Published in 2021
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-03289200
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