A Theory of the Allocation of Time

A Theory of the Allocation of Time explores how individuals decide to divide their limited hours among various activities like work, leisure, and rest. It suggests that people aim to maximize their overall well-being or satisfaction within their constraints of time and resources. The theory considers factors such as wages, preferences, and opportunities, which influence these choices. Ultimately, it helps explain patterns in behavior, such as working more when wages are high or prioritizing leisure when seeking relaxation, providing insight into how people manage their daily schedules for optimal balance.