The value of time: A theoretical review
The value of time: A theoretical review
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DOI：
10.1080/01441649708716984
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发表时间：
1997-07-01
影响因子：
9.8
通讯作者：
Gonzalez, RM
中科院分区：
文献类型：
--
作者：
Gonzalez, RM
We review the main models postulated to study the subjective value of nonworking time emphasizing the most important aspects behind the microeconomic formulation of time allocation models: among others we consider the behavioural assumptions, the role of constraints in the maximization process implicit in this task, and the relevant variables in the utility function. We analyse first the pioneering models of Becker (1965), De Serpa (1971, 1973) and Evans (1972), who develop a general theoretical framework which may be applied to modal choice models. We then go on to consider Train and McFadden's model (1978) where the formulation incorporates the theory of random utility in order to analyse the choice of individual transport services. This analysis is further developed in Bates and Roberts (1986), Jara-Diaz and Farah (1987), and Jara-Diaz et al. (1988), who extend and perfect the analysis to establish what may be considered as the actual position of research on the subject, and to which the most recent contributions of Jara-Diaz (1994) are to be added.
