Abstract
In areas like household production and travel choice, time assigned to the different activities plays a key role in addition to consumption as the main variables in utility within the consumer behaviour framework. However, a comprehensive conceptual structure to understand the technological relations between goods consumption and the assignment of time to activities is still lacking. In this paper the problem is reviewed and all possible relations between goods and time are re-formulated. Two general functions are defined and proposed to account for all these relations, forming a new taxonomy for the technical constraints. The resulting consumer behaviour model is used to obtain general expressions for both the value of saving time in constrained activities like travel, and the value of leisure.
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Jara-Díaz, S.R. On the goods-activities technical relations in the time allocation theory. Transportation 30, 245–260 (2003). https://doi.org/10.1023/A:1023936911351
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DOI: https://doi.org/10.1023/A:1023936911351