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Food and Nutrition EconomicsFundamentals for Health Sciences$
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George C. Davis and Elena L. Serrano

Print publication date: 2016

Print ISBN-13: 9780199379118

Published to Oxford Scholarship Online: November 2017

DOI: 10.1093/oso/9780199379118.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 30 July 2021

Convenience and Time

Convenience and Time

Chapter:
(p.87) 6 Convenience and Time
Source:
Food and Nutrition Economics
Author(s):

George C. Davis

Elena L. Serrano

Publisher:
Oxford University Press
DOI:10.1093/oso/9780199379118.003.0006

Chapter 6 incorporates a time constraint into the analysis presented in Chapter 5. It demonstrates how some individuals may be “time poor but money rich” but others may be “time rich but money poor”. The chapter shows how the money price and time price of a good can be brought together to create what economists call the “full price” of a good. The chapter explains how this extension affects the demand curve and demand function from Chapter 5. To make the discussion policy relevant, the possible change in food consumption induced by a change in money price or time price is evaluated relative to a nutrient or food recommendation level. The chapter closes with some of the main empirical findings relating time to food choices and nutrition.

Keywords:   convenience, time constraint, money price, time price, full price

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