Accession Number : AD0708348

Title :   TIME IN THE BUDGET OF THE CONSUMER: THE THEORY OF CONSUMER DEMAND AND LABOR SUPPLY UNDER A TIME CONSTRAINT.

Descriptive Note : Doctoral thesis,

Corporate Author : CALIFORNIA UNIV BERKELEY

Personal Author(s) : De Vany,Arthur

Report Date : 15 JUN 1970

Pagination or Media Count : 144

Abstract : The purpose of the study is to develop and test a modification of the standard theory of consumer demand that yields implications concerning the consumer's allocation of time to consumption and income producing activities. Unlike the demand for leisure model, the theory does not treat leisure as a good or work as a bad. The consumer's time does not enter his utility function, only the quantities of goods consumed do. The consumer's time enters his budget constraint only. At a sufficiently high level of income, time may also become an additional constraint independent of the budget constraint. The principal hypothesis of the theory is that each good has a money price and a foregone earnings cost. (Author)

Descriptors :   (*INDUSTRIAL PRODUCTION, *COMMERCE), (*LABOR, *TIME), (*SALARIES, TIME), MANPOWER, OPERATIONS RESEARCH, THEORY, THESES

Subject Categories : Economics and Cost Analysis

Distribution Statement : APPROVED FOR PUBLIC RELEASE