Year-end Sale % OFF 
Abstract
We appreciate the comments of Johnson and Ward on our note measuring the value of time. We would like to emphasize that the purpose of our note was to offer an empirical approach to measuring value of time which permitted the value to vary across individuals but which inferred this variation from individuals in the sample. We realize that empirical approaches to measuring the value of time are currently evolving. The comments by Johnson and Ward help elucidate some basic issues in valuing time. We respond first to Johnson and then to Ward.
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