J**Y
发帖数: 34 | 1 A central issue here is whether time should be viewed as a resource or as a
commodity. Since there is a budget constraint on total time, it seems
reasonable to treat the rate of usage of time as price-equivalent. Somebody
also argues that the time (or the time spent in a particular acticity)
can be viewed as a commodity in its own right.
Becker (1965) proposed an approach to this problem. He defined the utility
as the function of "activities", each of which has certain requiremnets
in terms of c | q**i
发帖数: 174 | 2
the key difference between time and other commodity is that a) you cannot
stop consuming time, and b) you cannot trade time.
I like this approach better, if you include a) "non-activity" in the commodity
vector (so that one cannot stop consuming time), and b) a constraint that
all time consumed sums to a fixed number (1?).
【在 J**Y 的大作中提到】
: A central issue here is whether time should be viewed as a resource or as a
: commodity. Since there is a budget constraint on total time, it seems
: reasonable to treat the rate of usage of time as price-equivalent. Somebody
: also argues that the time (or the time spent in a particular acticity)
: can be viewed as a commodity in its own right.
: Becker (1965) proposed an approach to this problem. He defined the utility
: as the function of "activities", each of which has certain requiremnets
: in terms of c
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