Marginal Substitution Rate Estimation And Analysis Of Influencing Factors Of Residents' Leisure Time

The 21st century is an era of informationization.The mechanization and intelligence of production not only greatly increase production efficiency,but also allow people to have more leisure time.Therefore,it is of great significance to study the leisure time preferences and demand changes of Chinese residents.However,the distribution of leisure time varies from person to person and the boundaries are ambiguous,making it difficult to conduct a comprehensive and reasonable classification of time.In addition,we often use the wage rate as a measure of leisure time value,which hardly reflects the true value changes.Firstly,based on Vogel's method of measuring leisure time,the paper calculates the leisure time of Chinese residents from 1989 to 2011,and analyzes the changing trend of urban and rural residents'time allocation.Among them,with the change of time,working hours have gradually decreased and leisure time has increased significantly.Then,using the Cobb-Douglas utility function,which introduced the time variable,it is deduced that the marginal utility of the actual leisure time is equal to the sum of the marg:inal utility of the working income and the marginal utility of the labor time.On this basis,the marginal replacement rate of working time and leisure time of urban and rural residents was calculated.It was found that the time preference was closely related to China's macroeconomic policies and income levels at that time,and the trend of change was roughly the same,that is,with the increase of wage rate,working time brings greater utility to people.Then the paper uses data from the 2011 China Health and Nutrition Survey official website to analyze from two perspectives:First,from the perspective of leisure activities structure,using the data of sit-in and dynamic activity in the questionnaire,using descriptive statistical analysis method to analyze urban and rural residents5 quality of leisure activities and concludes that:1.From the perspective of different subjects,the quality of leisure activities of urban residents is higher than that of rural residents and they are willing to spend longer periods of time.2.From the nature of leisure activities,the sit-in activity time is much higher than the dynamic leisure activity time,which shows that the overall leisure quality level of our residents is not high.Second,the influencing factors of leisure time,using linear regression model for analysis.The results show that men have more free time than women;leisure time decreases with age and then rises;the higher the level of education,the more leisure time people have;the higher the occupational level and the more difficult to replace the nature of work,enjoy more leisure time;the relationship between income and leisure time is inversely proportional to the increase in leisure time at the expense of income,indicating that China has not fully entered the"rich and leisurely"stage of development.Finally,based on the empirical results of the dissertation,efforts are made to promote economic growth and improve people's living standards in terms of education,income,urban-rural gap,and leisure life quality.