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Household Behavior and the Marriage Market

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  • Daniela Del Boca
  • Christopher J. Flinn

Abstract

There is some controversy in the field of household economics regarding the efficiency of household decisions. We make the point that a flexible specification of spousal preferences and the household production technology precludes the possibility of using revealed preference data on household time allocations to determine the manner in which spouses interact: efficiently or inefficiently. Under strong, but standard, assumptions regarding marriage market equilibria, marital sorting patterns can be used essentially as “out of sample” information that allows us to assess whether household behavior is efficient or not. We develop a new likelihood-based metric to compare marriage market fits under the two alternative behavioral assumptions. We use a sample of households drawn from a recent wave of the Panel Study of Income Dynamics, and find strong evidence supporting the view that household behavior is (constrained) efficient.

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Bibliographic Info

Paper provided by Collegio Carlo Alberto in its series Carlo Alberto Notebooks with number 254.

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Length: 43 pages
Date of creation: 2012
Date of revision:
Handle: RePEc:cca:wpaper:254

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Keywords: Bilateral Matching; Household Time Allocation; Efficient Outcomes; Likelihood Analysis;

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References

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  1. repec:bla:restud:v:74:y:2007:i:3:p:857-895 is not listed on IDEAS
  2. Daniela Del Boca & Christopher Flinn, 2009. "Endogeneous Household Interaction," Working Papers, Becker Friedman Institute for Research In Economics 2009-001, Becker Friedman Institute for Research In Economics.
  3. Chiappori, Pierre-Andre, 1988. "Rational Household Labor Supply," Econometrica, Econometric Society, Econometric Society, vol. 56(1), pages 63-90, January.
  4. Raquel Fernandez & Nezih Guner & John Knowles, 2001. "Love and Money: A Theoretical and Empirical Analysis of Household Sorting and Inequality," NBER Working Papers 8580, National Bureau of Economic Research, Inc.
  5. Chiappori, Pierre-Andre, 1992. "Collective Labor Supply and Welfare," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 100(3), pages 437-67, June.
  6. Fran�ois Bourguignon & Martin Browning & Pierre-André Chiappori, 2009. "Efficient Intra-Household Allocations and Distribution Factors: Implications and Identification," Review of Economic Studies, Oxford University Press, vol. 76(2), pages 503-528.
  7. Jeremy Greenwood & Nezih Guner & John A. Knowles, 2003. "More on Marriage, Fertility, and the Distribution of Income," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(3), pages 827-862, 08.
  8. Martin Browning & Pierre-Andre Chiappori, 1994. "Efficient Intra-Household Allocations: a General Characterization and Empirical Tests," Department of Economics Working Papers 1994-02, McMaster University.
  9. Aiyagari, S.R. & Greenwood, J. & Guner, N., 1999. "On the State of the Union," RCER Working Papers 462, University of Rochester - Center for Economic Research (RCER).
  10. Bound, John, et al, 1994. "Evidence on the Validity of Cross-Sectional and Longitudinal Labor Market Data," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 12(3), pages 345-68, July.
  11. John Dagsvik & Helge Brunborg & Ane Flaatten, 2001. "A behavioral two-sex marriage model," Mathematical Population Studies, Taylor & Francis Journals, vol. 9(2), pages 97-121.
  12. Eugene Choo & Aloysius Siow, 2006. "Who Marries Whom and Why," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 114(1), pages 175-201, February.
  13. Maurizio Mazzocco, 2007. "Household Intertemporal Behaviour: A Collective Characterization and a Test of Commitment," Review of Economic Studies, Oxford University Press, vol. 74(3), pages 857-895.
  14. Zhiqi Chen & Frances Woolley, 1999. "A Cournot-Nash Model of Family Decision Making," Carleton Economic Papers 99-13, Carleton University, Department of Economics, revised Oct 2001.
  15. Randall P. Walsh & Murat F. Iyigun, 2004. "Building the Family Nest: A Collective Household Model with Competing Pre-Marital Investments and Spousal Matching," 2004 Meeting Papers 168, Society for Economic Dynamics.
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Cited by:
  1. Laurens CHERCHYE & Thomas DEMUYNCK & Bram DE ROCK & Frederic VERMEULEN, 2014. "Household consumption when the marriage is stable," Center for Economic Studies - Discussion papers, Katholieke Universiteit Leuven, Centrum voor Economische Studiën ces14.08, Katholieke Universiteit Leuven, Centrum voor Economische Studiën.

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