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A Theory of the Allocation of Time

  • Gary S. Becker
  • The Economic Journal, Vol. 75, No. 299 (Sep., 1965), pp. 493-517

  • Published by: Blackwell Publishing;Royal Economic Society
  • Stable URL: http://www.jstor.org/stable/2228949
  • Subjects: economics, finance, business
  • Keyterms: commodity, earnings, income, forgo, good, consumption, leisure, productivity, hour, substitution, constraint, price, utility, increase, allocation, money, market, household, marginal, work, intensive, spend, maximise, equation
  • CiteRank: 7
  • Times cited by articles in JSTOR: 727

Top Words
Word Count
the834
of603
and343
in320
a257
to239
time209
is186
would149
be133
that127
income120
for115
on85
by84
Top Bigrams
Bigram Count
### ###337
# ###117
of the108
in the90
### the90
### and85
### #70
of time68
# the61
of ###53
# ##51
and ###43
would be43
to the41
cost of40
Top Trigrams
Trigram Count
### ### ###106
### ### #30
the cost of27
the allocation of23
### ### the19
allocation of time19
an increase in18
a rise in17
### and ###16
# ### the16
of the allocation16
# ### ###16
the productivity of16
cost of time15
theory of the15
Top Quadgrams
Quadgram Count
### ### ### ###59
the allocation of time19
of the allocation of16
a theory of the14
theory of the allocation14
allocation of time ##12
### a theory of12
the cost of time12
importance of forgone earnings12
## the economic journal11
the economic journal ###11
# ### a theory9
in the productivity of9
elasticity of demand for9
the importance of forgone9
Top Keyterms
Keyterm Weight
commodity1.0
earnings0.969
income0.866
forgo0.829
good0.688
consumption0.573
leisure0.57
productivity0.425
hour0.402
substitution0.369
constraint0.349
price0.317
utility0.268
increase0.264
allocation0.262

References

T. W. Schultz, " The Formation of Human Capital by Education," Journal of Political Economy (December 1960)

Human Capital (Columbia University Press for the N.B.E.R., 1964), Chapter IV.

ibid., p. 103.

" Market Prices, Opportunity Costs, and Income Effects," in Measurement in Economics: Studies in Mathematical Economics and Econometrics in Memory of Yehuda Grunfeld (Stanford University Press, 1963).

" Labor Force Participation of Married Women," in Aspects of Labor Economics (Princeton University Press, 1962).)

The Supply of Labor and the Demand for Recreation (unpublished Ph.D. dissertation, Columbia University, 1964).

Economic Analysis and African Response to Price (unpublished Ph.D. dissertation, Columbia University, 1963).

A. K. Cairncross, " Economic Schizophrenia," Scottish Journal of Political Economy (February 1958).

J. Tobin, " A Survey of the Theory of Rationing," Econometrica (October, 1952)

Human Capital, op. cit.

" Investment in Human Capital: A Theoretical Analysis," Journal of Political Economy, special supplement (October 1962), Section 2)

Human Capital, op. cit., Chapter II.

G. S. Becker, " Irrational Behavior and Economic Theory," Journal of Political Economy (February 1962)

Microeconomic Theory (McGraw-Hill, 1958), p. 23)

S. de Grazia, in his recent Of Time, Work and Leisure, says, " Leisure is a state of being in which activity is performed for its own sake or as its own end " (New York: The Twentieth Century Fund, 1962, p. 15).

ibid., Chapters III and IV

W. Moore, Man, Time and Society (New York: Wiley, 1963), Chapter II

J. N. Morgan, M. H. David, W. J. Cohen and H. E. Brazer, Income and Welfare in the United States (New York: McGraw-Hill, 1962), p. 322

Owen, op. cit., Chapter II.

Moore, op. cit., p. 18

op. cit., Chapter VIII

W. J. Corbett and D. C. Hague, " Complementarity and the Excess Burden of Taxation," Review of Economic Studies, Vol. XXI (1953-54)

A. C. Harberger, "Taxation, Resource Allocation and Welfare," in the Role of Direct and Indirect Taxes in the Federal Revenue System (Princeton University Press, 1964).

L. Robbins, " On the Elasticity of Demand for Income in Terms of Effort," Economica (June 1930)

Wesley Mitchell's justly famous essay " The Backward Art of Spending Money " spells out some of these reasons (see the first essay in the collection, The Backward Art of Spending Money and Other Essays (New York: McGraw-Hill, 1932)

A. Finnegan does find steeper cross-sectional relations when the average incomes and hours of different occupations are used (see his " A Cross-Sectional Analysis of Hours of Work," Journal of Political Economy (October, 1962)

Mincer has found a very strong substitution effect for women (see his " Labor Force Participation of Married Women," op. cit.

Victor Fuchs, " Productivity Trends in the Goods and Service Sectors, 1929- 61: A Preliminary Survey," N.B.E.R. Occasional Paper, October 1964.

J. Wilburn, " Productivity Trends in Barber and Beauty Shops," mimeographed report, N.B.E.R., September 1964.

Mincer, "Market Prices ... ," op. cit.

J. Tobin, " A Statistical Demand Function for Food in the U.S.A.," Journal of the Royal Statistical Society, Series A (1950)

G. S. Becker, " An Economic Analysis of Fertility," Demographic and Economic Change in Developed Countries (N.B.E.R. Conference Volume, 1960)

R. A. Easterlin, " The American Baby Boom in Historical Perspective," American Economic Review (December 1961)

I. Adelman, " An Econometric Analysis of Population Growth," American Economic Review (June 1963)

R. Weintraub, " The Birth Rate and Economic Development: An Empirical Study," Econometrica (October 1962)

Morris Silver, Birth Rates, Marriages, and Business Cycles (unpublished Ph.D. dissertation, Columbia University, 1964)

D. Freed- man, " The Relation of Economic Status to Fertility," American Economic Review (June 1963)

Duesenberry's comment on Becker, op. cit.

Becker, op. cit.

Ibid., p. 214 fn. 8

ibid., pp. 214-15

Mincer, " Market Prices . . .," op. cit.

H. Mohring, " Land Values and the Measurement of Highway Benefits," Journal of Political Economy (June 1961).

ibid.

L. N. Moses and H. F. Williamson, " Value of Time, Choice of Mode, and the Subsidy Issue in Urban Transportation," Journal of Political Economy June 1963)

R. Muth, " Economic Change and Rural-Urban Conversion," Econometrica (January 1961)

J. F. Kain, Commuting and the Residential Decisions of Chicago and Detroit Central Business District Workers (April 1963).

Muth, op. cit.

Kain, op. cit., pp. 6-12.

L. F. Schnore, " The Socio-Economic Status of Cities and Suburbs," American Sociological Review (February 1963).

Housing and Income (University of Chicago Press, 1962), p. 6 and passim.

Reid, the elasticity of demand for indoor space is less than unity (ibid., Chapter 12)

R. Muth, " Household Production and Consumer Demand Functions," unpublished manu- script

Owen, op. cit., Chapter X.

de Grazia, op. cit., Chapter IV.

Edward T. Hall, The Silent Language (New York: Doubleday, 1959), Chapter 9.

S. J. Prais and H. Houthakker, The Analysis of Family Budgets (Cambridge, 1955)

" An Economic Analysis of Fertility," op. cit.

" Consumer Response to the Relative Price of Store versus Delivered Milk," Journal of Political Economy (April 1963).

D. R. Cox and W. L. Smith, Queues (New York: Wiley 1961)

Selected: 6,428,186

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