Rich Kids, Poor Kids:Measuring the Opportunity Cost of Time Using Sleep Patterns For Teenagers

39 Pages Posted: 20 Jan 2023

See all articles by James Cardon

James Cardon

Princeton University - Department of Economics

Eric Eide

Brigham Young University

Kerk Phillips

affiliation not provided to SSRN

Mark H. Showalter

Brigham Young University

Abstract

This paper explores time use as a possible contributor to income inequality. Productive time is modeled as the complement to a model of sleep that incorporates the biological necessity of sleep within a dynamic choice framework. Our empirical application uses the quasi-exogenous variation in time constraints for high school students due to school being in session. We find that there are large differences in time use patterns across the income distribution. The results imply that time allocation for adolescents influenced by parents can be an important aspect of human capital acquisition and contribute to the intergenerational correlation in human capital.

Keywords: sleep, opportunity cost, dynamic models, high school students

Suggested Citation

Cardon, James H. and Eide, Eric and Phillips, Kerk and Showalter, Mark H., Rich Kids, Poor Kids:Measuring the Opportunity Cost of Time Using Sleep Patterns For Teenagers. Available at SSRN: https://ssrn.com/abstract=4331969 or http://dx.doi.org/10.2139/ssrn.4331969

James H. Cardon

Princeton University - Department of Economics ( email )

Princeton, NJ 08544-1021
United States

Eric Eide

Brigham Young University ( email )

Provo, UT 84602
United States

Kerk Phillips

affiliation not provided to SSRN

Mark H. Showalter (Contact Author)

Brigham Young University ( email )

Provo, UT 84602
United States

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