Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
9550917 | European Economic Review | 2005 | 24 Pages |
Abstract
Using detailed time use data for Germany a positive correlation is found between the level of schooling and time investments in informal education. Two hypotheses explain this observation: (1) highly educated people have higher opportunity costs of their leisure time and thus prefer leisure activities which add to their market productivity (wage effect) and (2) highly educated people have a preference for 'high quality' leisure (taste effect). The demand for informal education is derived in a household production model accounting for both explanations. An empirical investigation finds evidence for both effects with the taste effect being more important.
Related Topics
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Economics and Econometrics
Authors
René Fahr,