Pareto Optimality in a Becker Model of Time Allocation

A. G. Holtmann, Todd L. Idson and Qian Ding

The American Economist, 1993, vol. 37, issue 2, 37-39

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.

Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:sae:amerec:v:37:y:1993:i:2:p:37-39

DOI: 10.1177/056943459303700206

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