Propositions for Modelling Household Decision-Making

Abstract

The paper sketched a conceptual model of household decision making that deals with both short range and long range decision processes. It defines individual decision making as occurring within a household context, within which the household makes long range decisions about the acquisition and nature of major resources, and short range decisions concerning the allocation of these resources for use by household members. The conceptual model discusses the role which both time and money budgets play in the decision making process. In particular, it discusses the role of a money budget in long term decision making while the role of a time budget is emphasized in the short term activity decisions.

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