ON THE THEORY OF THE VALUATION AND ALLOCATION OF TIME: SOME COMMENTS
ON THE THEORY OF THE VALUATION AND ALLOCATION OF TIME: SOME COMMENTS
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关于时间的估价和分配理论:一些评论
DOI:
10.1111/j.1467-9485.1973.tb00871.x
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发表时间:
1973
影响因子:
1.1
通讯作者:
J. Flemming
中科院分区:
文献类型:
--
作者:
J. Flemming
J. S. FLEMMING1 have four comments on Evans (1972): the first (i) points out a mathematical error in which Evans follows Johnson (1966) and Oort (1969): it is shown that their objection to the conventional analysis of the work/leisure choice is not one of substance but of interpretation. The second point (ii) is purely one of interpretation and relates to Evans’ claim (p. 8) that ‘in equilibrium the ratio of the prices (of activities) is not equal to the marginal rate of substitution’. The third point (iii) relates to Evans’ interpretations of his optimality conditions as implying indifference in the marginal allocation of time-this is simply wrong. In my fourth comment (iv) I argue that the basic ‘activity’model of Evans’ section I11 is singularly ill-presented for the examination of the value of time savings. An alternative formulation of a virtually identical model is presented in which the time requirements of individual activities appear in the constraint set. It is shown that in this case it is indeed true that time savings are valued independently of where they occur but they are positively valued which Evans denies of his own model. Finally, in a fifth section (v), a model is presented in which the result Evans is looking for can be identified without the complications of his sections IV and V.(i) Evans’ section I constitutes a discussion of alternative analysis of the work/leisure choice. Evans expresses a strong preference for the following formulation: