Time Use in Economics

Shadow prices, which reflect the value of one's time, are at least as important as money prices, according to Nobel Laureate Gary Becker. Time Use in Economics contains original research on new aspects of time use, compiled by Daniel S. Hamermesh and Solomon W. Polachek. Topics include how time is used by type of household, job, growth area, job loss, individual wellbeing, and the blurred boundaries of time use between leisure and work.

Format: Hardback
Length: 412 pages
Publication date: 14 December 2023
Publisher: Emerald Publishing Limited

Nobel Laureate Gary Becker, in 1965, recognized the significance of shadow prices, which represent the value of one's time, surpassing the importance of money prices. It was only later, when governments began collecting extensive data on individuals' time utilization, that the implications of his theory of time allocation could be thoroughly tested.

Time Use in Economics presents groundbreaking original research on novel aspects of time use, curated by Daniel S. Hamermesh, a renowned labor economist renowned for his pioneering analysis of time use data, and Solomon W. Polachek, a pioneer in gender-related labor market research. The book explores various topics related to time usage, including:

• The distribution of time across different types of households.
• The allocation of time within specific jobs.
• The differences in time usage between high-growth and low-growth geographic areas.
• The impact of time usage after job loss.
• The relationship between time use and individual well-being.
• The challenges of defining the boundaries between leisure and work, particularly in the context of increasing remote work, particularly among mothers.

Through comprehensive analysis and insightful insights, Time Use in Economics sheds light on the intricate dynamics of time allocation and its profound implications for individuals, households, and society as a whole. This book is a valuable resource for researchers, policymakers, and anyone interested in understanding the role of time in shaping economic outcomes and human behavior.

Weight: 566g
Dimension: 229 x 152 x 17 (mm)
ISBN-13: 9781837536054