2. Valuing housework
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We develop a new approach to assessing the value of home production time based on willingness to spend time and money to obtain environmental improvements. When peoples’ choice is constrained by time as well as money, measures of willingness to pay can be defined with respect to either numeraire. In a model that explicitly allows for multiple shadow values of time, we show that the willingness to pay time and money measures are linked through the value of saving time.
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thnx for free points... but... the and is already given by parkjimin25...^^^
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