For many years a variety of techniques for measuring the value of home work time have been proposed and criticized. In this paper, these criticisms are discussed at length as a prelude to the introduction of a potentially more appealing measure first suggested by James Heckman (1974). Calculation of this measure, frequently referred to as the reservation wage, is presented in detail. Estimates obtained using the reservation wage technique are contrasted with market alternative estimates derived with the same data set. The empirical findings suggest that the market alternative cost method understates the true value of a woman's home time to the household.
American Association of Family and Consumer Sciences (AAFCS)
Housework; Cost; Value; Housewives
Zick, C. D., & Bryant, W. K. (1983). Alternative strategies for pricing home work time. Home Economics Research Journal, 12(2), 133-44.
(c)American Association of Family and Consumer Sciences (AAFCS)