Marriage and Trust: Some Lessons from Economics
AbstractThis paper examines the role of marriage as an institution for providing couples with the confidence to make long-term investments in their relationship. No-fault divorce has undermined the notion of marriage as a contract, thereby reducing the security offered by marriage and promoting opportunism by men. This has weakened the bargaining power of wives, both within marriage and when divorce occurs. Current legal reforms will improve the economic position of all divorced wives, including those who are primarily responsible for the breakdown of their marriage. The latter feature will encourage opportunism by women and make men less prepared to invest in their marriage. The paper argues that the only way to achieve parity between men and women, and deter opportunism by either sex, is to return to fault-based divorce. Both divorce settlements and the custody of children should depend on preceding marital conduct. Copyright 1999 by Oxford University Press.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by Oxford University Press in its journal Cambridge Journal of Economics.
Volume (Year): 23 (1999)
Issue (Month): 5 (September)
Contact details of provider:
Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
Fax: 01865 267 985
Web page: http://www.cje.oupjournals.org/
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Ian Smith, 2003. "The Law and Economics of Marriage Contracts," Journal of Economic Surveys, Wiley Blackwell, vol. 17(2), pages 201-226, 04.
- Justin Wolfers, 2006.
"Did Unilateral Divorce Laws Raise Divorce Rates? A Reconciliation and New Results,"
American Economic Review,
American Economic Association, vol. 96(5), pages 1802-1820, December.
- Wolfers, Justin, 2003. "Did Unilateral Divorce Laws Raise Divorce Rates? A Reconciliation and New Results," Research Papers 1819, Stanford University, Graduate School of Business.
- Justin Wolfers, 2003. "Did Unilateral Divorce Laws Raise Divorce Rates? A Reconciliation and New Results," NBER Working Papers 10014, National Bureau of Economic Research, Inc.
- Steven Horwitz & Peter Lewin, 2008. "Heterogeneous human capital, uncertainty, and the structure of plans: A market process approach to marriage and divorce," The Review of Austrian Economics, Springer, vol. 21(1), pages 1-21, March.
- Homero Cuevas, 2000. "La teoría económica, el afecto y la familia," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 2(2), pages 13-36, January-J.
- Viitanen, Tarja, 2011. "Parental Divorce and Generalized Trust," IZA Discussion Papers 5898, Institute for the Study of Labor (IZA).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.