The Rational Consumer's Choice Between Market, Non-market and Leisure Activities

Abstract: A 14 page paper discussing how changes in work and society affect consumers' choices in how they will spend their time. The superficial view is that greater labor-saving devices and other factors work to create greater availability of leisure time, but one author notes, "Greater exertion at work results in a higher wage, but less energy to devote to consumption and leisure activities." This is in conflict with the theory that greater material success results in greater leisure time. In the "real" world, busy people must make choices in how they will spend their time. Those choices include market, non-market and leisure activities. The purpose here is to describe how rational consumers allocate their time between the three. The annotated bibliography lists 14 sources and accounts for half of the paper's length.

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Catagory:

Subcatagory: Economics And Economic Theory

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