Work and Leisure How Do We Spend Our

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Work and Leisure How Do We Spend Our Time? Culture vs. Economics Lifetime Choices:

Work and Leisure How Do We Spend Our Time? Culture vs. Economics Lifetime Choices: Daily Choices; Retirement Choices

http: //www. npr. org/blogs/money/2012/08/29/1 60244277/what-americans-actually-do-all-daylong-in-2 graphics? utm_source=NPR&utm_medium=faceb ook&utm_campaign=20120829 Source: What Americans Actually Do All

http: //www. npr. org/blogs/money/2012/08/29/1 60244277/what-americans-actually-do-all-daylong-in-2 graphics? utm_source=NPR&utm_medium=faceb ook&utm_campaign=20120829 Source: What Americans Actually Do All Day Long Credit: Lam Thuy Vo Underlying source: Bureau of Labor Statistics

http: //www. bls. gov/tus/charts/home. htm

http: //www. bls. gov/tus/charts/home. htm

Where Americans Work 1972 2012 http: //www. npr. org/blogs/money/2012/03/20/149015363/what-america-does-for-work

Where Americans Work 1972 2012 http: //www. npr. org/blogs/money/2012/03/20/149015363/what-america-does-for-work

Monthly Labor Review, June 2008, Visual Essay: Time Use of Working Parents, Mary Dorinda

Monthly Labor Review, June 2008, Visual Essay: Time Use of Working Parents, Mary Dorinda Allard and Marianne Janes http: //www. bls. gov/opub/mlr/2008/06/art 1 full. pdf

Monthly Labor Review, June 2008, Visual Essay: Time Use of Working Parents, Mary Dorinda

Monthly Labor Review, June 2008, Visual Essay: Time Use of Working Parents, Mary Dorinda Allard and Marianne Janes http: //www. bls. gov/opub/mlr/2008/06/art 1 full. pdf

Monthly Labor Review, June 2008, Visual Essay: Time Use of Working Parents, Mary Dorinda

Monthly Labor Review, June 2008, Visual Essay: Time Use of Working Parents, Mary Dorinda Allard and Marianne Janes http: //www. bls. gov/opub/mlr/2008/06/art 1 full. pdf

http: //www. npr. org/blogs/money/2012/08/29/1 60244277/what-americans-actually-do-all-daylong-in-2 graphics? utm_source=NPR&utm_medium=faceb ook&utm_campaign=20120829 Source: What Americans Actually Do All

http: //www. npr. org/blogs/money/2012/08/29/1 60244277/what-americans-actually-do-all-daylong-in-2 graphics? utm_source=NPR&utm_medium=faceb ook&utm_campaign=20120829 Source: What Americans Actually Do All Day Long Credit: Lam Thuy Vo Underlying source: Bureau of Labor Statistics

http: //www. bls. gov/tus/chart 14. pdf

http: //www. bls. gov/tus/chart 14. pdf

http: //www. bls. gov/tus/chart 15. pdf

http: //www. bls. gov/tus/chart 15. pdf

http: //www. bls. gov/tus/chart 2. pdf

http: //www. bls. gov/tus/chart 2. pdf

Variations in time use at stages of the life cycle http: //www. bls. gov/opub/mlr/2005/09/ressum.

Variations in time use at stages of the life cycle http: //www. bls. gov/opub/mlr/2005/09/ressum. pdf

Variations in time use at stages of the life cycle http: //www. bls. gov/opub/mlr/2005/09/ressum.

Variations in time use at stages of the life cycle http: //www. bls. gov/opub/mlr/2005/09/ressum. pdf

Figure 7. 1 Household Time and Income Are Substitutes in the Production of Commodities

Figure 7. 1 Household Time and Income Are Substitutes in the Production of Commodities Sally Consumes

Figure 7. 3 Life-Cycle Allocation of Time

Figure 7. 3 Life-Cycle Allocation of Time

Retirement decision: Present Value • A key new concept is the "present value" or

Retirement decision: Present Value • A key new concept is the "present value" or "discounted value" of a future stream of income from (say) a pension, social security or the continuing of work.

Retirement Decision: Balance PV of future market and pension incomes • Basically at any

Retirement Decision: Balance PV of future market and pension incomes • Basically at any age (say 62) the individual looks at 1) the present value of future pension income should he retire now or later, 2) the present value of future market income should he retire now or later.