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 disease" whereby productivity in manufacturing and even sen-ice activities outstrips 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 Beckerian notion that such increases also raise the opportunity cost of time, potentially 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 economic significance suggested for the aggregate demand for symphony concerts.