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

Name File Type Size Last Modified
  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:  View help for Summary 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:  View help for JEL Classification
      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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V1 [2019-10-12]

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