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Standard economic theory of consumer behavior considers consumers' preferences, their incomes and commodity prices to be the determinants of consumption. However, consumption takes time and no consumer has more--or less--than 168 hours per week. This simple fact is almost invisible in standard theory, and takes the center stage in this book.
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Standard economic theory of consumer behavior considers consumers' preferences, their incomes and commodity prices to be the determinants of consumption. However, consumption takes time and no consumer has more--or less--than 168 hours per week. This simple fact is almost invisible in standard theory, and takes the center stage in this book.