Larson, Douglas M.; Shaikh, Sabina L.; Layton, DavidF. - In: American Journal of Agricultural Economics 86 (2004) 2, pp. 307-320
When consumer choice is constrained by time as well as money, willingness to pay can be defined with respect to either numeraire. The two measures can be related formally within a utility-consistent model of choice subject to two constraints. Furthermore, when information is collected on both,...