Time Use in Economics

Beginning in 1965 Nobel Laureate Gary Becker realized that shadow prices, which reflect the value of one’s time, may be at least as important as money prices. Implications of his resulting theory of time allocation were not tested until much later when governments began to collect extensive data on how individuals utilized their time.

Time Use in Economics contains original research on new aspects of time use compiled by Daniel S. Hamermesh, a long—time path—breaking labor economist leader ...