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Can consumption of convenience products reveal the opportunity cost of time?

Daniel Phaneuf

Economics Letters, 2011, vol. 113, issue 1, 92-95

Abstract: I examine how people's consumption of time-saving products can be used to estimate the shadow value of time. I use a household production model to motivate an empirical approach that can be implemented using survey data.

Keywords: Shadow; value; of; time; Time; constraints; Household; production; Latent; variable; models (search for similar items in EconPapers)
Date: 2011
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Handle: RePEc:eee:ecolet:v:113:y:2011:i:1:p:92-95