Valuing housework time from willingness to spend time and money for environmental quality improvements

We develop a new approach to assessing the value of home production time based on willingness to spend time and money to obtain environmental improvements. When peoples’ choice is constrained by time as well as money, measures of willingness to pay can be defined with respect to either numeraire. In a model that explicitly allows for multiple shadow values of time, we show that the willingness to pay time and money measures are linked through the value of saving time. With survey information on peoples’ willingness to spend additional time on housework activities, as well as pay money, to obtain environmental quality improvements, joint estimation within a utility-consistent structure produces estimates of both willingness to pay and the value of saving housework time. From the value of saving housework time, the marginal value of housework time can be readily identified. When applied to Korean households’ valuation of water quality improvements in the Man Kyoung River, we find that the value of housework time is 70–80% of the market wage.

Motives of corporate political donations: industry regulation,subjective judgement and the origins of pragmatic and ideological corporations

What motivates corporate political action? Are corporations motivated by their own narrow economic self‐interest; are they committed to pursuing larger class interests; or are corporations instruments for status groups to pursue their own agendas? Sociologists have been divided over this question for much of the last century. This paper introduces a novel case – that of Australia – and an extensive dataset of over 1,500 corporations and 7,500 directors. The paper attempts to understand the motives of corporate political action by examining patterns of corporate political donations. Using statistical modelling, supported by qualitative evidence, the paper argues that, in the Australian case, corporate political action is largely motivated by the narrow economic self‐interest of individual corporations. Firms’ interests are, consistent with regulatory environment theory, defined by the nature of government regulation in their industry: those in highly regulated industries (such as banking) and those dependent on government support (such as defence) tend to adopt a strategy of hedging their political support, and make bipartisan donations (to both major parties). In contrast, firms facing hostile regulation (such as timber or mining), and those without strong dependence on state support (such as small companies) tend to adopt a strategy of conservative partisanship, and make conservative‐only donations. This paper argues that regulatory environment theory needs to be modified to incorporate greater emphasis on the subjective political judgements of corporations facing hostile regulation: a corporation's adoption of conservative partisanship or hedging is not just a product of the objective regulation they face, but also whether corporate leaders judge such regulation as politically inevitable or something that can be resisted. Such a judgement is highly subjective, introducing a dynamic and unpredictable dimension to corporate political action.     

Are ‘journalists’ own problems’ aggravating their hostility toward public relations?—A study of Korean journalists

Journalists’ own job problems have been found to be detrimental to media recognition of public relations: journalists vent frustration from their worsening job conditions at public relations practitioners. This outlook of occupational psyche casts a shadow over the bright prospect for media recognition of the profession. Journalists’ problems operate outside media relations, thus beyond direct attempts of public relations practitioners at media recognition via enhancing professionalism in their practices. There have been, however, only a few qualitative studies on this significant issue, all pointing to journalists’ occupational psyche running against media recognition. The purpose of this study is to determine quantitatively whether journalists’ own job satisfaction and their envy of public relations practitioners lead to their negative attitude. A survey of 128 Korean off-line journalists was conducted, and its results suggested that occupational psyche has little influence on media attitude—contrary to the findings of previous qualitative studies. For future study, this paper issues a call for cross-country, comparative research on the subject of journalists’ occupational psyche.     

Imagined interactions,family money management patterns and coalitions,and attitudes toward money and credit

This study explores the imagined interactions college students have with their parents about money and credit, their attitudes toward credit and money, the ways they say their parents deal with financial decisions, and the communication coalitions regarding finances they perceive existing within their family. Students’ imagined interaction pleasantness is greatest when parents jointly form a plan for paying off credit card debt and lowest when parents argue. When family coalitions exist, students report more frequent imagined interactions. Imagined interaction frequency and pleasantness are related to credit and money attitudes.

The effects of sexual orientation and marital status on how couples hold their money

Previous research has shown that intrahousehold bargaining power in different-sex couples affects household expenditures and how families hold their money. This article examines the portfolio of bank accounts held by same-sex and different-sex couples and its relationship to bargaining power and individual and relationship characteristics. Data from the U.S. Survey of Consumer Finances suggest that married couples are much more likely to hold money jointly than are same-sex or unmarried different-sex couples, even after accounting for the effects of other characteristics. However, many couples of all types hold money in joint accounts and do so more often in longer term relationships and when rearing children. Proxies for bargaining power help predict whether money will be held in individual accounts for unmarried different-sex and same-sex couples, but not for married couples. These patterns could reflect greater matching of married couples on preferences or the effects of legal and social institutions that differ by marital status and sexual orientation.

The relationship between objective and subjective wealth is moderated by financial control and mediated by money anxiety

Prior research has showed that the subjective perception of objective wealth might be affected by various individual difference variables, such as one’s love of money, level of aspirations, and materialistic inclinations. This paper examines a model of subjective wealth that controls attitudes toward money and objective wealth. Subjective wealth has been operationalized as a combination of the assessment of financial situation, the ability to make ends meet and perceived adequacy of income to fulfill needs and wants. Objective wealth has been captured by personal net income as well as household income. Results show that two dimensions of money attitudes affect the subjective perception of objective wealth. Individuals’ perceived financial control (the ability to budget, monitor, and control their money) serves as a moderator for the relationship between objective and subjective wealth: The relationship between the two is stronger for individuals high in financial control and planning than for those low. Furthermore, money anxiety (worry and indecisiveness regarding moneyrelated issues) is negatively related to objective measures of wealth and its subjective evaluation, and partially mediates the objective–subjective wealth relationship.     

Time and time again: Implications of time perception theory

This article explores the integration of time perception theory from various root disciplines related to family resource management. It includes anthropological models of time perception and sociological and psychological concepts related to time measure and usage. Examples of issues appropriate to the exploration of time use in the home and instrumentation that may assist in its understanding and measurement are included.This research was supported in part by Lincoln University Cooperative Research.Alma J. Owen is Associate Professor and Small Farm Family Program Leader for Lincoln University Cooperative Extension, 900 Moreau Drive, Jefferson City, MO 65101. Her research interests include measuring household production, at-home income generation, and rural families. She received her Ph.D. in Family and Consumer Economics from the University of Missouri-Columbia.     

Intimate relationships and changing patterns of money management at the beginning of the twenty-first century

Drawing on British data from two annual sweeps of the ISSP eight years apart in 1994 and 2002, for modules focusing on 'Family and Changing Gender Roles', this paper examines the extent to which changes in women's labour market participation, changing ideologies/discourses of gender and changing forms of intimate relationships are affecting the ways in which couples organize household money, and the implications of such changes for recent theories of intimate relationships. The analysis indicates that by 2002, the type of relationship respondents had established, together with their social class position, were both independently related to the ways in which they managed money, after controlling for socio-economic and cultural or discursive factors. Our findings also provide a degree of support for the thesis of a partial decline in the male breadwinner model of gender, as indicated by small declines in the use of the relatively inegalitarian female whole wage and housekeeping allowance systems which were most likely to be used by married couples and cohabiting fathers, expressing relatively traditional ideologies/discourses of breadwinning - and a slight increase in the use of the partial pool, which was most likely to be used by childless cohabiting couples in which male partners expressed less traditional ideologies of breadwinning and women were in middle-class jobs with incomes high enough to facilitate partially separate finances. We also suggest, however, that in so far as cohabiting couples earning different amounts define equality as contributing equally to household expenditure, it is possible that rather than being associated with shifts to greater equality in access to money for personal spending and saving, the partial pool may be associated with marked inequalities, because it may enable gender inequalities generated in the labour market to be more directly transposed into inequalities within households, despite the decline of traditional discourses of male breadwinning and the increasing importance of egalitarian ideologies of co-provisioning.     

Dispositional optimism and stock investments

This paper analyzes the relationship between dispositional optimism and stock investments, controlling for cognitive skills and personality traits such as trust, social interactions and risk aversion. We use data from the Survey of Health, Ageing and Retirement in Europe (SHARE) on investors aged 50+ in twelve European countries. Our results show that dispositional optimism and personality matter for financial decisions. Optimism is positively and significantly related to both the ownership of stocks and the share of gross financial wealth invested in these assets and its role is especially relevant for risk tolerant investors and investors with little trust in others.     

Assessing the causal relationship among communication,money management practices,satisfaction with financial status,and satisfaction with quality of life

The purpose of the study reported here is to assess the causal relationship among communication, money management practices, satisfaction with financial status, and quality of life. The data used were collected in 1986 through personal interviews. The sample size is 123 interviewees, and the unit of analysis is the household's money manager. Results show that the money managers who are more knowledgeable about financial matters, and those who are highly indebted, communicate more about money matters and report more money management activities. Satisfaction with financial status is caused mainly by economic factors (net worth and savings). The demographic factors that influence satisfaction with quality of life are marital status and household size. Satisfaction with quality of life is also predicted by income and satisfaction with financial status.This research was supported by the Iowa Agriculture and Home Economics Experiment Station Project No. 2773 (Journal paper No. 13123).Dr. Olive Mugenda is a senior lecturer Lecturer at Kenyatta University, P. O. Box 62337, Nairobi, Kenya, East Africa. Dr. Tahira K. Hira is a Professor, Department of Family Environment, Iowa State University. Dr. Alyce M. Fanslow is a Distinguished Professor, Department of Family and Consumer Sciences Education, Iowa State University, Ames, IA 50011.Drs. Mugenda and Fanslow received their Ph.D. degrees from Iowa State University, Dr. Hira received her Ph.D. degree from the University of Missouri, Columbia.Dr. Mugenda's research is in family financial management areas. Dr. Hira's research focuses on factors influencing satisfaction with households' financial status and consumer bankruptcy. Dr. Fanslow's research interest includes financial management education.     

Complementarity and substitutability in family members' time allocated to household production activities

This study reviews the concepts of complementarity and substitutability and the theoretical representations of these concepts used in demand analysis. It highlights difficulties encountered in empirical estimation of these relationships in the absence of adequate price data. A procedure for investigating these relationships in demand analysis under the assumption of constant relative prices is proposed. A model is formulated to test these relationships in family members' time allocated to household production activities. The data used in this analysis were collected in the Interstate Regional Research Project (NE-113), U.S.D.A. A simultaneous regression procedure is used. Results indicate that time of homemakers and their spouses are weakly complementary in several household maintenance activities, unpaid work, eating, shopping, recreation, organizational participation, physical and non-physical care of family members, and physical care of self. Homemaker's time in food preparation and spouse's time in physical care of self are found to be weakly substitutable. Relationships of substitutability are identified for each family member individually in his/her own discretionary activities. Discussion centers on implications of the model assumptions and use of residual analysis in applications other than demand analysis.Rosemary Key is an Assistant Professor, Department of Consumer Economics & Housing, 103 Martha Van Rensselaer Hall, Cornell University, Ithaca, NY 14853. In addition to time management, her research interests include the psychological foundations of managerial activity, and how time use impacts consumer behavior. She received her Ph.D. from The Ohio State University.     

Use of time and preferences for time allocation among urban,employed, married women

This study examines the relationship between employed wives' preferences for household production time, employment time, leisure, and their actual time use. A random sample of 235 employed, married women estimate their time use on an average weekday and weekend day in 13 activities and indicate their preferences for time in those activities. Hierarchical multiple regression procedures are used to examine the relationships between actual and preferred time use. Weekday employment time is not related to preferences for more or less time in household production but wives allocating more time to employment want to spend less time at that employment and more time in leisure. Weekend employment time is related to preferences for more time in leisure, child care, and other household work. Time spent performing household work is not related to preferences for more or less time in any activity except the desire for more leisure time on weekends.Ann Renigar Hiatt is Assistant Professor in the Department of Human Services, College of Education and Allied Professions at the University of North Carolina at Charlotte, Charlotte, NC 28223. Her research interests include employed women's time allocation, time pressures, and use of time management strategies. She received her Ph.D. from the University of North Carolina at Greensboro.Deborah D. Godwin is Associate Professor in the Department of Housing and Consumer Economics at the University of Georgia, Athens, GA 30602. Her research has focused on husbands' and wives' time allocation to household production, the effects of women's employment on family economic functioning, and family financial management. She received her Ph.D. from the University of North Carolina at Greensbore.     

Household consumption: Influences of aspiration level, social comparison, and money management

The present research posits and tests a model of household consumption of less necessary or luxury goods and services. It is hypothesized that a household's economic situation has a direct effect on this consumption as well as indirect effects mediated by aspiration level, social comparison and money management. Structural equation modeling of questionnaire data from a sample of households in a metropolitan area of Sweden (n=411) was used to test the model. The results reveal that as expected the household's economic situation has a significant direct effect on consumption and indirect effects through aspiration level and social comparison. The results also show that satisfaction with consumption increases with increased consumption and decreases with higher aspiration levels.     

Revisiting “money illusion”: Replication and extension of Shafir,Diamond, and Tversky (1997)

Shafir et al. (1997) described money illusion as people’s inclination to think of money without taking inflation sufficiently into account, i.e., in nominal terms rather than in real terms. We successfully replicated Problems 1 to 4 of Shafir, Diamond, and Tversky’s study (1997) on money illusion (MTurk; N = 604). We found effect sizes in line with the original ones for assessments of income (Problem 1; original: Cramer’s V = 0.26, 95% CI [0.17, 0.37]; replication: V = 0.28 [0.21, 0.36]), transactions (Problem 2; original: 48% [42%, 52%]; replication: 70% [66%, 73%]), sales and consumption (Problem 3; original buy: 38% [33%, 43%]; replication buy: 47% [43%, 51%]; original sell: 43%% [38%, 48%]; replication sell: 43% [39%, 47%]), and contracts (Problem 4; original: V = 0.25 [0.13, 0.42]; replication: V = 0.17 [0.10, 0.25]). With an added extension, we found no support for the notion that knowing about or correctly estimating the inflation rate affected money illusion. We discuss theoretical implications for the study of money illusion and the psychological meaning of inflation, as well as for the understanding of the antecedents of money illusion. All data, code, and materials are available on https://osf.io/rv9mw/.     

Appliances and their impact: the ownership of domestic technology and time spent on household work

Ever since the appearance of Vanek's pioneering article in 1974, there has been a controversy about whether 'labour saving' domestic appliances actually save labour time. Vanek argued that time spent in housework had barely changed since 1926, despite the diffusion of practically every known domestic appliance over this period. Gershuny and Robinson challenge Vanek's 'constancy of housework' thesis, arguing that, between 1965 and 1985, domestic technology has significantly reduced the weekly hours of women's routine housework. Although there is much talking past each other, none of the protagonists in this dispute have any direct data about which households own or do not own domestic appliances. Instead, they all rely on the passage of the years as a proxy for ownership of domestic appliances, since a higher proportion of contemporary households now own domestic appliances. The Australian 1997 Time Use Survey (Australian Bureau of Statistics 1998b) is rare among official surveys, as it simultaneously provides detailed information on time spent in housework and an inventory of household appliances. The analysis of this data show that domestic technology rarely reduces women's unpaid working time and even, paradoxically, produces some increases in domestic labour. The domestic division of labour by gender remains remarkably resistant to technological innovation.     

Differences in allocation of family time spent on household tasks among single-parent,one-earner,and two-earner families

The purpose of this study is to use analysis of covariance to examine variations in time use among single-parent, one-earner, and two-earner families and to assess the effects of two covariates, Age of the Younger Child and Hours of Employment of the Homemaker, on total family time spent on household tasks. Data were collected from 81 single-parent and 210 two-parent California households using a questionnaire, time chart, and personal interviews. The greatest discrepancy between single-parent and two-parent families is that single-parent families spend significantly less time than two-parent families on Maintenance of the home and yard and on Nonphysical Care (social interaction with family members). One-earner families spend almost as much time as two-earner families on Nonphysical Care, but only when Secondary Time is included. Two household activities, Clothing Care and Management, are not affected by either family type or the covariates.This study utilized data from USDA Regional Research Project NE-113, An Urban-Rural Comparison of Families' Time Use.Jeanne M. Hilton is an Assistant Professor of Family Economics and Management, Department of Human Development and Family Studies, University of Nevada, Reno, NV 89557. She received her Ph.D. from Oregon State University. Her current research interests include work and family issues within the context of family structure.     

Trust in surveys and games – A methodological contribution on the influence of money and location

This paper explores methods to study trust. In a variety of settings, answers to survey questions and choices in a trust game are obtained from student sample pools. Some subjects are approached by mail and execute their task at home whereas others participate in classroom experiments. No differences between the results obtained by these methods are observed. Furthermore, one additional group plays the trust game with purely hypothetical payments, and another receives random lottery payments. This changes trust behavior dramatically, whereas trustworthiness is unaffected. Subjects without any financial incentives exhibit less trust and their trust choices are significantly correlated with survey trust answers. There is no such correlation for the corresponding choices with real payments.     

Homeless Affiliation, Location, and Sender Address in Return of Lost Letters

A field study used 1008 lost letters to test the hypotheses that the differences in returned responses would be attributable to the addressee (i.e., ending homelessness-control or preventing it among youth, veterans, and lesbians) and especially to a socially deviant addressee, that cultural differences between distribution locations might influence returned responses of lost letters, and that sender address (i.e., urban, rural, control) would also influence returned responses. Both addressees' affiliations and distribution location were associated with returned responses, with the lowest rates being for the Prevent Lesbian Homelessness Program affiliate overall and for the city of Pensacola, respectively. Antigay prejudice toward a deviant group may still be strong even when a helping act can be performed without intimate contact involving members of deviant group. Neither distribution location nor the sender or return address conditions were associated with different returned responses. Further testing of the lost letter technique, as a measure of public response, may be warranted.