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The pre-marital investment game

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  • Peters, Michael

Abstract

Two sides of a finite marriage market engage in costly investment and are then matched assortatively. The purpose of the investment is solely to improve the quality of the match that trader can attain in the second stage. The paper studies the limits of equilibrium of these finite matching games as the number of traders gets large. It is shown that mixed Nash equilibria in the finite games converge to degenerate pure strategy equilibria in the limit in which both sides of the market invest too much.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 137 (2007)
Issue (Month): 1 (November)
Pages: 186-213

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Handle: RePEc:eee:jetheo:v:137:y:2007:i:1:p:186-213

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Web page: http://www.elsevier.com/locate/inca/622869

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References

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  1. Michael Peters & Aloysius Siow, 2001. "Competing Premarital Investment," Working Papers peters-01-02, University of Toronto, Department of Economics.
  2. Ed Hopkins, 2006. "Job Market Signalling of Relative Position, or Becker Married to Spence," Levine's Bibliography 321307000000000553, UCLA Department of Economics.
  3. Nosaka, Hiromi, 2007. "Specialization and competition in marriage models," Journal of Economic Behavior & Organization, Elsevier, vol. 63(1), pages 104-119, May.
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Cited by:
  1. Ed Hopkins, 2006. "Job Market Signalling of Relative Position, or Becker Married to Spence," Levine's Bibliography 321307000000000553, UCLA Department of Economics.
  2. Bilancini, Ennio & Boncinelli, Leonardo, 2014. "Instrumental cardinal concerns for social status in two-sided matching with non-transferable utility," European Economic Review, Elsevier, vol. 67(C), pages 174-189.
  3. James W. Boudreau, 2008. "Sequential Pre-Marital Investment Games: Implications for Unemployment," Working papers 2008-45, University of Connecticut, Department of Economics.
  4. Boudreau, James W., 2010. "Stratification and growth in agent-based matching markets," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 168-179, August.
  5. Bjerk, David, 2009. "Beauty vs. earnings: Gender differences in earnings and priorities over spousal characteristics in a matching model," Journal of Economic Behavior & Organization, Elsevier, vol. 69(3), pages 248-259, March.
  6. Raphaela Hyee, 2011. "Education in a Marriage Market Model without Commitment," Working Papers 683, Queen Mary, University of London, School of Economics and Finance.
  7. Bhaskar, Venkataraman & Hopkins, Ed, 2011. "Marriage as a Rat Race: Noisy Pre-Marital Investments with Assortative Matching," CEPR Discussion Papers 8529, C.E.P.R. Discussion Papers.
  8. Georg Noldeke & Larry Samuelson, 2014. "Investment and Competitive Matching," Cowles Foundation Discussion Papers 1946, Cowles Foundation for Research in Economics, Yale University.

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