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The Organization Of Family Interactions: Minimizing Transaction Costs And Strategic Behavior

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  • Wittman, Donald
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    Abstract

    The optimal organization of the family requires that relations are structured so that non-cooperative game playing is minimized and transaction costs are reduced. I show that therapeutic advice for behavior within the family is to create a functioning property rights system. Punishment is shown to be inferior to setting limits because the first encourages strategic game playing. I show why there is conflict between parent and their child even when the parent maximizes the child’s expected discounted utility. In addition, I provide a model of the intergenerational transfer of behavior.

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    File URL: http://www.escholarship.org/uc/item/9xg179zp.pdf;origin=repeccitec
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    Bibliographic Info

    Paper provided by Department of Economics, UC Santa Cruz in its series Santa Cruz Department of Economics, Working Paper Series with number qt9xg179zp.

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    Date of creation: 01 Feb 2005
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    Handle: RePEc:cdl:ucscec:qt9xg179zp

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    Keywords: internal organization of the family; transaction cost; psychology;

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