Searching for the Opportunity Cost of an Individual's Time

W. Douglass Shaw

144 citations0/0 files storedLand Economics

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Economic and Environmental Valuation Labor market dynamics and wage inequality Gender, Labor, and Family Dynamics

Abstract

Abstract. A traditional assumption made in the literature is that the value of an individual's time spent in any activity is equal to his or her wage rate. This result stems from the derivation of the value of leisure time in the context of the standard labor supply model. This paper presents some reasons why the relationship between the wage rate and the value of time does not hold. Suggestions for what to do when the relationship breaks down and the investigator needs some value to impute to the individual are given in the final section of the paper.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 144 citations exist upstream.

References

1965A Theory of the Allocation of Time 1989Using surveys to value public goods: the contingent valuation method 1966Theory of the Firm 1987Time, Goods, and Well-Being.1983Estimating a Household Production Function: Heterogeneity, the Demand for Health Inputs, and Their Effects on Birth Weight 1971A Theory of the Economics of Time 1975The Relevance of the Household Production Function and Its Implications for the Allocation of Time 1976Value of Time in Recreation Benefit Studies

Cited by

2011MEASURING THE ECONOMIC VALUE OF VOLUNTEER WORK GLOBALLY: CONCEPTS, ESTIMATES, AND A ROADMAP TO THE FUTURE 2004Travel Cost Analysis of a Cultural Heritage Site: The Case of Historic St. Mary's City of Maryland 1996Economic Valuation of the Chinook Salmon Sport Fishery of the Gulkana River, Alaska, under Current and Alternate Management Plans 2004Destination Choice Models for Rock Climbing in the Northeast Alps: A Latent-Class Approach Based on Intensity of Participation 1995Valuing Time in Travel Cost Demand Analysis: An Empirical Investigation

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.