Estimating the value of leisure from a time allocation model
Estimating the value of leisure from a time allocation model
- New search for: Jara-Díaz, Sergio R.
- New search for: Munizaga, Marcela A.
- New search for: Greeven, Paulina
- New search for: Guerra, Reinaldo
- New search for: Axhausen, Kay
- New search for: Jara-Díaz, Sergio R.
- New search for: Munizaga, Marcela A.
- New search for: Greeven, Paulina
- New search for: Guerra, Reinaldo
- New search for: Axhausen, Kay
AbstractA new approach to calculate the value of leisure is developed and applied. This is derived from a consumer behaviour model that includes goods and activities. A system of time assignment equations is explicitly obtained from which the values of both leisure and work can be analytically calculated using econometrically estimated parameters. This framework is applied using detailed data from three samples in diverse settings: Santiago (Chile), Karlsruhe (Germany), and Thurgau (Switzerland). The empirically estimated values of leisure differ from the wage rate and a theoretical justification is provided.
Document information
Estimating the value of leisure from a time allocation model
Transportation Research Part B: Methodological ; 42 , 10 ; 946-957
2008-03-04
12 pages
Article (Journal)
Electronic Resource
English
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