According to Frey and Benz 2003 or Blanchflower 2004, a significant proportion of the working population would prefer self-employment to dependent employment. Most people agree on the reason. Self-employed people are their own boss and therefore free and independent in their decisions. This flexibility is noticeable in many dimensions of social life, but especially in the possible division of working hours and thus in the allocation of time. The term time allocation stands for the allocation of time to various work and non-work activities, taking into account the income necessary for reproduction. Since self-employed persons can freely divide their daily routine, the question arises whether their time pattern for various activities shows significant peculiarities compared to the dependent employee in the life cycle. The theoretical and empirical analysis of time allocation in the life cycle has so far focused on the evaluation of cross-sectional data due to the limited data available in science. With panel data such as the Socio-Economic Panel, information on a wide range of different work and non-work activities can be evaluated in a longitudinal section. This allows the analysis of individual dynamic time allocation. The evaluation of the socio-economic panel makes it possible to determine whether a change in employment to self-employment changes the time allocation permanently or whether it again approaches the time allocation of dependent employees. The research questions in this project are summarized as follows: - How can a dynamic intertemporal model be applied to explain the allocation of goods and time and how can its determinants be determined empirically? - Is the change into independence an explanation for anomalies in the intertemporal time allocation path?