Production of (Pleasant) Time by Means of (Unpleasant) Time: Some Notes on Consumption Theory and Time Use

Sergio Nisticò

Metroeconomica, 2014, vol. 65, issue 2, 276-297

Abstract: The aim of this paper is to propose 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, the paper reverses Becker's (1965, The Economic Journal, 75 (299), pp. 493–517) proposal to approach the problem of time allocation by transforming the time spent in consumption into foregone earnings. The result of reversing Becker's approach is a model that represents each activity 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.

Date: 2014
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Working Paper: Production of (Pleasant) Time by Means of (Unpleasant) Time: Some Notes on Consumption Theory and Time Use (2010)
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