Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Study: the price of recreation goods affects how much time American men spend at work

28.06.2007
When we enjoy recreation, our time is combined with goods and services such as sporting equipment or admission fees. Thus, variations in the price of products used for leisure might change their consumption levels and alter the amount of time devoted to enjoying recreation. Given the importance of recreation in our time budgets, the amount of time allocated to other activities – such as work – could also be affected.

In a study appearing in the July 2007 issue of the Journal of Labor Economics, Jorge Gonzales-Chapela (Universidad de Alicante, Spain) combines individual-level data in the United States with metropolitan price indices to better understand how changes in the price of recreation goods can influence the labor/leisure balance.

Gonzales-Chapela finds that for every 1 percent increase in the price of recreation goods men between the ages of 25 and 54 who work full-time will work an extra 3.2 hours a year. Men in this age range devote an average of 3.7 hours per day to “socializing, relaxing, and leisure” – their third most time-consuming daily activity – meaning that even a 1 percent rise in the price of recreation translates into the loss of one day’s worth of leisure per year.

“Since the relative price of recreation goods dropped, for instance, in the United States by about 15 percent between 1976 and 1981, if this price change could be considered as anticipated, a prime-age man would have lowered – on average—his market time by some 48 annual hours between 1976 and 1981 solely because of incentives created by variations in the price of recreation goods,” explains Gonzales-Chapela.

These findings suggest a new explanation for the different patterns of work and leisure observed in the U.S. and Europe since the 1970s. Should the behavioral response found in this study using U.S. data be similar in European countries, the price of recreation goods would contribute towards explaining the increase in the market hours gap between the U.S. and Europe.

Suzanne Wu | EurekAlert!
Further information:
http://www.uchicago.edu

More articles from Business and Finance:

nachricht Microtechnology industry is hiring – positive developments of past years continue
09.04.2018 | IVAM Fachverband für Mikrotechnik

nachricht RWI/ISL-Container Throughput Index with minor decline on a high overall level
20.03.2018 | RWI – Leibniz-Institut für Wirtschaftsforschung

All articles from Business and Finance >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Powerful IT security for the car of the future – research alliance develops new approaches

The more electronics steer, accelerate and brake cars, the more important it is to protect them against cyber-attacks. That is why 15 partners from industry and academia will work together over the next three years on new approaches to IT security in self-driving cars. The joint project goes by the name Security For Connected, Autonomous Cars (SecForCARs) and has funding of €7.2 million from the German Federal Ministry of Education and Research. Infineon is leading the project.

Vehicles already offer diverse communication interfaces and more and more automated functions, such as distance and lane-keeping assist systems. At the same...

Im Focus: Molecular switch will facilitate the development of pioneering electro-optical devices

A research team led by physicists at the Technical University of Munich (TUM) has developed molecular nanoswitches that can be toggled between two structurally different states using an applied voltage. They can serve as the basis for a pioneering class of devices that could replace silicon-based components with organic molecules.

The development of new electronic technologies drives the incessant reduction of functional component sizes. In the context of an international collaborative...

Im Focus: LZH showcases laser material processing of tomorrow at the LASYS 2018

At the LASYS 2018, from June 5th to 7th, the Laser Zentrum Hannover e.V. (LZH) will be showcasing processes for the laser material processing of tomorrow in hall 4 at stand 4E75. With blown bomb shells the LZH will present first results of a research project on civil security.

At this year's LASYS, the LZH will exhibit light-based processes such as cutting, welding, ablation and structuring as well as additive manufacturing for...

Im Focus: Self-illuminating pixels for a new display generation

There are videos on the internet that can make one marvel at technology. For example, a smartphone is casually bent around the arm or a thin-film display is rolled in all directions and with almost every diameter. From the user's point of view, this looks fantastic. From a professional point of view, however, the question arises: Is that already possible?

At Display Week 2018, scientists from the Fraunhofer Institute for Applied Polymer Research IAP will be demonstrating today’s technological possibilities and...

Im Focus: Explanation for puzzling quantum oscillations has been found

So-called quantum many-body scars allow quantum systems to stay out of equilibrium much longer, explaining experiment | Study published in Nature Physics

Recently, researchers from Harvard and MIT succeeded in trapping a record 53 atoms and individually controlling their quantum state, realizing what is called a...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

VideoLinks
Industry & Economy
Event News

In focus: Climate adapted plants

25.05.2018 | Event News

Save the date: Forum European Neuroscience – 07-11 July 2018 in Berlin, Germany

02.05.2018 | Event News

Invitation to the upcoming "Current Topics in Bioinformatics: Big Data in Genomics and Medicine"

13.04.2018 | Event News

 
Latest News

In focus: Climate adapted plants

25.05.2018 | Event News

Flow probes from the 3D printer

25.05.2018 | Machine Engineering

Less is more? Gene switch for healthy aging found

25.05.2018 | Life Sciences

VideoLinks
Science & Research
Overview of more VideoLinks >>>