Plausibly Exogenous [1576] - Value of Time (05/27/2024)

LHS Variable
Willingness to pay

RHS Variable
Time

Source of Exogenous Variation
As a consequence of gasoline price controls in the spring of 1980, motorists were confronted with a choice between waiting in line for low-priced gasoline or purchasing at a higher price without waiting

- Deacon and Sonstelie (1985), “Rationing by waiting and the value of time: Results from a natural experiment”