A simple identification strategy for Gary Becker’s time allocation model

The implementation of Gary Becker’s (1965) time allocation model is hampered by the fact that values of the different time uses are usually not observed. In practice, one often assumes that the value of time is uniform across time uses by using market wages. This approach implies a fundamental identification problem. We demonstrate that the identification problem can be solved if production shifters are available.publisher: Elsevier articletitle: A simple identification strategy for Gary Becker’s time allocation model journaltitle: Economics Letters articlelink: http://dx.doi.org/10.1016/j.econlet.2015.11.006 content_type: article copyright: Copyright © 2015 Elsevier B.V. All rights reserved.status: publishe