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Problems in Estimating the Value of Household Services

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  • R. D. Peterson

Abstract

Current estimates of the value of household services (VHS) as a percent of Gross National Product(GNP) are overestimations, it is contended. They are based on a zero (or low) supply price whereas if such services by family members usually commanded a price, the quantity demanded might be substantially less. Also the total output of goods and services (real GNP) against which VHS is measured is GNP sans VHS; if measurement is justified, it should be GNP plus VHS, yielding a smaller percentage.

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  • R. D. Peterson, 1978. "Problems in Estimating the Value of Household Services," American Journal of Economics and Sociology, Wiley Blackwell, vol. 37(2), pages 145-148, April.
    • Handle: RePEc:bla:ajecsc:v:37:y:1978:i:2:p:145-148
    DOI: 10.1111/j.1536-7150.1978.tb02808.x
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    Cited by:

    1. Harvey S. James Jr., 1996. "The Valuation of Household Production: How Different are the Opportunity Cost and Market Price Valuation Methods?," Microeconomics 9612001, University Library of Munich, Germany.

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