An exploration of the Beckerian theory of time costs: Symphony concert demand

The passage of time has long been known to have economic effects, The most important effect in the arts has heretofore been the so-called "cost diseas e" whereby productivity in manufacturing and even sen-ice activities outstr ips those in cultural pursuits, notably the performance arts. Naturally, a positive income effect on demand would tend to mitigate this supply effect. This paper posits yet another side ro wage and income increases - the Beck erian notion that such increases also raise the opportunity cost of time, p otentially adding to the effect of the "cost disease." The implications of this effect are discussed in this paper and a preliminary statistical test for significance is developed and conducted. The results support the econom ic significance suggested for the aggregate demand for symphony concerts.