This study discusses the nature of adjustment costs, which underpin the dynamic theory of input demand. We examine the implications of the conventional assumption that they are quadratic-symmetric. A recent rapidly-growing literature based on microeconomic data shows that this assumption is...

We develop a theory of the market for individual reputation, an indicator of regard by one’s peers and others. The central questions are: 1) Does the quantity of exposures raise reputation independent of their quality? and 2) Assuming that overall quality matters for reputation, does the...

Time-diary data from four countries suggest that differences in market time between the unemployed and employed represent additional leisure and personal maintenance rather than increased household production. U.S. data for 2003-2006 show that almost none of the reduction in market work in areas...

cover -- Contents -- Acknowledgments -- Competing interests -- About IZA -- Editorial board -- INTRODUCTION -- SECTION I: Program evaluation -- SECTION II: Behavioral and personnel economics -- SECTION III: Migration -- SECTION IV: Institutions -- SECTION V: Transition and emerging economies --...

We expand the analysis of cyclical changes in labor demand by decomposing changes along the intensive margin into those in days/week and in hours/day. Using large cross sections of U.S. data, 1985-2018, we observe around 1/4 of the adjustment in weekly hours occurring through changing days/week....

We expand the analysis of cyclical changes in labor demand by decomposing changes along the intensive margin into those in days/week and in hours/day. Using large cross sections of U.S. data, 1985-2018, we observe around ¼ of the adjustment in weekly hours occurring through changing days/week....

We investigate the relationship between physical attractiveness and the time people devote to video/computer gaming. Average American teenagers spend 2.6% of their waking hours gaming, while for adults this figure is 2.7%. Using the American Add Health Study, we show that adults who are...

We investigate the relationship between physical attractiveness and the time people devote to video/computer gaming. Average American teenagers spend 2.6% of their waking hours gaming, while for adults this figure is 2.7%. Using the American Add Health Study, we show that adults who are...

Beginning in 1965 Nobel Laureate Gary Becker realized that shadow prices, which reflect the value of one's time, may be at least as important as money prices. Implications of his resulting theory of time allocation were not tested until much later when governments began to collect extensive data...