Life-cycle prices and production

被引：262

作者：

Aguiar, Mark ^{[1
]}

Hurst, Erik ^{[2
]}

机构：

[1] Univ Rochester, Dept Econ, Rochester, NY 14627 USA

[2] Univ Chicago, Grad Sch Business, Chicago, IL 60637 USA

来源：

AMERICAN ECONOMIC REVIEW | 2007年 / 97卷 / 05期

关键词：

D O I：

10.1257/aer.97.5.1533

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We use scanner data and time diaries to document how households substitute time for money through shopping and home production. We document substantial heterogeneity in prices paid for identical goods for the same area and time, with older households shopping the most and paying the lowest prices. Doubling shopping frequency lowers a good's price by 7 to 10 percent. We estimate the shopper's price of time and use this series to estimate an elasticity of substitution between time and goods in home production of roughly 1.8. The observed life-cycle time allocation implies a consumption series that differs markedly from expenditures.

引用

页码：1533 / 1559

页数：27

共 30 条

[1] Consumption versus expenditure [J].