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CESifo Working Paper No. 829
Center for Economic Studies and ifo Institute (CESifo), Munich
In OECD countries watching television is by far the most time-consuming form of leisure. Surprisingly, television viewing is positively correlated with work hours across countries. A simple model based on the notion of aggregate strategic complementarities in social leisure is developed which explains such a pattern as resulting from multiple equilibria. Workers and capitalists are shown to exhibit opposite preference orderings over equilibria. The relative ability of those two groups in capturing a country's government may explain which equilibrium is selected.
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