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Time as a Direct Source of Utility: The Case of Price Information Search for Groceries
Author(s) -
KOLODINSKY JANE
Publication year - 1990
Publication title -
journal of consumer affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.582
H-Index - 62
eISSN - 1745-6606
pISSN - 0022-0078
DOI - 10.1111/j.1745-6606.1990.tb00260.x
Subject(s) - production (economics) , economics , variation (astronomy) , dual (grammatical number) , variable (mathematics) , microeconomics , econometrics , advertising , business , mathematics , art , mathematical analysis , physics , literature , astrophysics
A “joint production” model that combines aspects of household production and the economics of information is formulated to explain variation in time spent in price information search for groceries by dual earner households. Enjoyment of search time, a psychological variable, is incorporated into the model. Empirical estimation using grocery expenditure data indicates that enjoyment, income, age, the price of search time, presence of young and teenage children, daily use of a microwave oven, and the percentage of a market basket filled with name brand items are significant factors in explaining variation in time spent in price information search.