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Author: Arthur S. De Vany
Publisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 60
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Book Description
The addition of time in the consumer's budget yields new theorems from demand theory while preserving the (logical) validity of the old ones. These new theorems concern additional Slutsky type equations relating quantities of goods demanded, hours worked, and total income to the wage rate, non-wage or time-independent income, and the relative time or price intensity of goods; the Slutsky equations with respect to price are preserved. The new equations place additional behavioral restrictions upon the standard consumer demand functions and permit the consumer's labor supply to be derived from his demand for goods. Since all the theory's variables are observable, it can be tested by estimating these functions. (Author).
Author: Arthur S. De Vany
Publisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 60
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Book Description
The addition of time in the consumer's budget yields new theorems from demand theory while preserving the (logical) validity of the old ones. These new theorems concern additional Slutsky type equations relating quantities of goods demanded, hours worked, and total income to the wage rate, non-wage or time-independent income, and the relative time or price intensity of goods; the Slutsky equations with respect to price are preserved. The new equations place additional behavioral restrictions upon the standard consumer demand functions and permit the consumer's labor supply to be derived from his demand for goods. Since all the theory's variables are observable, it can be tested by estimating these functions. (Author).
Author: Arthur S. De Vany
Publisher:
ISBN:
Category : Consumers
Languages : en
Pages : 288
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Book Description
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).
Author: Patrick M. Emerson
Publisher:
ISBN:
Category : Economics
Languages : en
Pages :
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Book Description
Author:
Publisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 84
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Book Description
Author: Ian Steedman
Publisher: Routledge
ISBN: 1134530846
Category : Business & Economics
Languages : en
Pages : 261
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Book Description
Standard economic theory of consumer behaviour considers consumers' preferences, their incomes and commodity prices to be the determinants of consumption. However, consumption takes time and no consumer has more - or less - than 168 hours per week. This simple fact is almost invisible in standard theory, and takes the centre stage in this book. Whe
Author: United States. Office of Management and Budget
Publisher:
ISBN:
Category : Budget
Languages : en
Pages : 1224
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Book Description
Author: United States. Congress. Joint Economic Committee. Subcommittee on Consumer Economics
Publisher:
ISBN:
Category : Economic assistance, Domestic
Languages : en
Pages : 214
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Book Description
Author: U.S. Consumer Product Safety Commission
Publisher:
ISBN:
Category :
Languages : en
Pages : 158
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Book Description
Author: Wendy E. Pentland
Publisher: Springer Science & Business Media
ISBN: 0306459515
Category : Social Science
Languages : en
Pages : 290
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Book Description
This collection demonstrates the use and variety of applications of time use methodology from multidisciplinary, multinational, and multicultural perspectives. A distinguished roster of contributors from such fields as psychology, occupational therapy, sociology, economics, and architecture examines the complex relationship between human time utilization and health and well-being and evaluates the future of time use analysis as a research tool in the social sciences.
Author: William Roberds
Publisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 18
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Book Description
