Replication data for: Life-Cycle Prices and Production
Principal Investigator(s): View help for Principal Investigator(s) Mark Aguiar; Erik Hurst
Version: View help for Version V1
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atus_2003_data | 10/12/2019 07:58:AM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/12/2019 03:58:AM |
collapsed_dataset.do | text/plain | 6.9 KB | 10/12/2019 03:58:AM |
denver.dta | application/octet-stream | 133.3 MB | 10/12/2019 03:58:AM |
home_production_data.do | text/plain | 8.9 KB | 10/12/2019 03:58:AM |
readme.html | text/html | 5.2 KB | 10/12/2019 03:58:AM |
readme.pdf | application/pdf | 10 KB | 10/12/2019 03:58:AM |
tables_and_figures.do | text/plain | 10.3 KB | 10/12/2019 03:58:AM |
where_shop.do | text/plain | 2.5 KB | 10/12/2019 03:58:AM |
Project Citation:
Aguiar, Mark, and Hurst, Erik. Replication data for: Life-Cycle Prices and Production. Nashville, TN: American Economic Association [publisher], 2007. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113218V1
Project Description
Summary:
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We use scanner data and time diaries to document how households substitute time
for money through shopping and home production. We document substantial heterogeneity
in prices paid for identical goods for the same area and time, with older
households shopping the most and paying the lowest prices. Doubling shopping frequency
lowers a good's price by 7 to 10 percent. We estimate the shopper's price of
time and use this series to estimate an elasticity of substitution between time and goods
in home production of roughly 1.8. The observed life-cycle time allocation implies a
consumption series that differs markedly from expenditures. (JEL D12, D91)
Scope of Project
JEL Classification:
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D12 Consumer Economics: Empirical Analysis
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
D12 Consumer Economics: Empirical Analysis
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
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