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!
Blockchain Set to Transform the Financial Services Market
28.09.2016 | HHL Leipzig Graduate School of Management
Paper or plastic?
08.07.2016 | University of Toronto
Researchers from the Institute for Quantum Computing (IQC) at the University of Waterloo led the development of a new extensible wiring technique capable of controlling superconducting quantum bits, representing a significant step towards to the realization of a scalable quantum computer.
"The quantum socket is a wiring method that uses three-dimensional wires based on spring-loaded pins to address individual qubits," said Jeremy Béjanin, a PhD...
In a paper in Scientific Reports, a research team at Worcester Polytechnic Institute describes a novel light-activated phenomenon that could become the basis for applications as diverse as microscopic robotic grippers and more efficient solar cells.
A research team at Worcester Polytechnic Institute (WPI) has developed a revolutionary, light-activated semiconductor nanocomposite material that can be used...
By forcefully embedding two silicon atoms in a diamond matrix, Sandia researchers have demonstrated for the first time on a single chip all the components needed to create a quantum bridge to link quantum computers together.
"People have already built small quantum computers," says Sandia researcher Ryan Camacho. "Maybe the first useful one won't be a single giant quantum computer...
COMPAMED has become the leading international marketplace for suppliers of medical manufacturing. The trade fair, which takes place every November and is co-located to MEDICA in Dusseldorf, has been steadily growing over the past years and shows that medical technology remains a rapidly growing market.
In 2016, the joint pavilion by the IVAM Microtechnology Network, the Product Market “High-tech for Medical Devices”, will be located in Hall 8a again and will...
'Ferroelectric' materials can switch between different states of electrical polarization in response to an external electric field. This flexibility means they show promise for many applications, for example in electronic devices and computer memory. Current ferroelectric materials are highly valued for their thermal and chemical stability and rapid electro-mechanical responses, but creating a material that is scalable down to the tiny sizes needed for technologies like silicon-based semiconductors (Si-based CMOS) has proven challenging.
Now, Hiroshi Funakubo and co-workers at the Tokyo Institute of Technology, in collaboration with researchers across Japan, have conducted experiments to...
14.10.2016 | Event News
14.10.2016 | Event News
12.10.2016 | Event News
21.10.2016 | Health and Medicine
21.10.2016 | Information Technology
21.10.2016 | Materials Sciences