주부의 노동시간가치를 고려한 시판김치 지출함수 추정

Impact of House Keeper’s Time Value on Household Expenditures on Kimchi

Kimchi expenditure equations derived from household production theory stress the importance of the time constraint implicit in household decision making whether or not house keepers purchase Kimchi. The measure of time value was based on the opportunity cost approach when estimating potential wages form non-labor-force house keepers. The Kimchi expenditure equations were estimated using Heckman’s two step procedure. The estimation results showed that higher wage of house keepers had positive impacts on purchasing Kimchi because of their higher opportunity cost of time. The results also indicate that educational attainment of the household head, age of household head significantly influenced purchasing Kimchi.