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Working for the Weekend: A Time Allocation Model for Student Workers

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Listed:
  • Joe S. Ballard
  • E. Anthon Eff

Abstract

An important area of consumer choice is time allocation and its role in dictating behavior. For the typical student worker, the time allocation decision involves three primary activities: paid employment, academic pursuits, and leisure pursuits. Exogenous factors such as the wage rate, price of consumption, rate of effective studying, desired academic grade, and total time available influence an individual’s choice of time to spend on work, study, and leisure. The effects of these exogenous factors reveal a bifurcation in the student worker’s time allocation decision: a labor-leisure tradeoff versus academics. The time allocation model developed here derives these effects for the hybrid case of the student worker.

Suggested Citation

  • Joe S. Ballard & E. Anthon Eff, 2014. "Working for the Weekend: A Time Allocation Model for Student Workers," Journal for Economic Educators, Middle Tennessee State University, Business and Economic Research Center, vol. 14(1), pages 108-119, Fall.
    • Handle: RePEc:mts:jrnlee:v:14:y:2014:i:1:p:108-119
    as

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    File URL: http://capone.mtsu.edu/jee/2014/P108toP119-MS114.pdf
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    References listed on IDEAS

    as
    1. Christopher C. Klein, 2007. "The Economics of Time as a Resource," Working Papers 200712, Middle Tennessee State University, Department of Economics and Finance.
    2. Kalenkoski, Charlene Marie & Pabilonia, Sabrina Wulff, 2012. "Time to work or time to play: The effect of student employment on homework, sleep, and screen time," Labour Economics, Elsevier, vol. 19(2), pages 211-221.
    3. Kalenkoski, Charlene Marie & Pabilonia, Sabrina Wulff, 2012. "Time to work or time to play: The effect of student employment on homework, sleep, and screen time," Labour Economics, Elsevier, vol. 19(2), pages 211-221.
    4. Schmidt, Robert M, 1983. "Who Maximizes What? A Study in Student Time Allocation," American Economic Review, American Economic Association, vol. 73(2), pages 23-28, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    time allocation; student workers; employment; leisure; academics; utility maximization;
    All these keywords.

    JEL classification:

    • C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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