Convenience and Time
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Chapter 6 incorporates a time constraint into the analysis presented in Chapter 5. It demonstrates how some individuals may be “time poor but money rich” but others may be “time rich but money poor”. The chapter shows how the money price and time price of a good can be brought together to create what economists call the “full price” of a good. The chapter explains how this extension affects the demand curve and demand function from Chapter 5. To make the discussion policy relevant, the possible change in food consumption induced by a change in money price or time price is evaluated relative to a nutrient or food recommendation level. The chapter closes with some of the main empirical findings relating time to food choices and nutrition.
2017 ◽
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2011 ◽
Vol 50
(3)
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pp. 263-280
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2014 ◽
Vol 116
(10)
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pp. 1618-1635
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