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Satisfactory time use elasticities of demand and measuring well-being inequality through superposed utilities

Okay Gunes () and Armagan Tuna Aktuna-Gunes ()
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Okay Gunes: Centre d'Economie de la Sorbonne, https://centredeconomiesorbonne.univ-paris1.fr
Armagan Tuna Aktuna-Gunes: Centre d'Economie de la Sorbonne - Paris School of Economics, https://centredeconomiesorbonne.univ-paris1.fr

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

Abstract: In this article, the satisfactory consumption and labor supply elasticities of demand are measured through a model of time allocation that includes eight time assignment equations by using the full time use (the temporal values of the monetary expenditure plus time spent) concept obtained by matching the Classic Family Budget survey with the Time Use survey for Turkey. The cross-sectional data covers the period of 2003-2006 in Turkey. The elasticity results show a clear picture of the relationship between satisfactory consumption and working with commodity demands for Turkey. As a contribution to the literature, we explore the reasons behind the demand for satisfactory consumption through working decisions by measuring well-being inequality for each consumption group. In order to increase the robustness of our result, overall well-being inequality is measured by introducing the axiom of superposed utility of preferences. As expected, overall well-being inequality declines to 0.26, which is 119 percentage points lower than the average rate of well-being inequality (0.57) in Turkey

Keywords: Time use; life satisfaction; well-being inequality; superposed utilities (search for similar items in EconPapers)
JEL-codes: C51 D03 I31 J22 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2015-02
New Economics Papers: this item is included in nep-ara, nep-cwa, nep-hap and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:15019

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