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Lady and the Trump: Status and Wealth in the Marriage Market

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Author Info
Almenberg, Johan () (Dept. of Economics, Stockholm School of Economics)
Dreber, Anna () (Dept. of Economics, Stockholm School of Economics)

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Abstract

We examine a hitherto unexplored aspect of intergenerational transmission of economic standing, namely culturally determined status markers and their valuation in the marriage market. We take nobility to be such a status marker. We propose a two-trait extension of the optimal sorting model in Becker (1973). Using data on Swedish marriages we test the hypothesis that nobility have a greater probability of marrying "up" in terms of wealth. Our main finding is a sizeable and statistically significant positive effect for nobility. We use unique data on the evolution of nobility to make some predictions about the longevity of this institution.

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Publisher Info
Paper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 690.

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Length: 28 pages
Date of creation: 12 Jan 2008
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Handle: RePEc:hhs:hastef:0690

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Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden
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Related research
Keywords: Marriage Status Intergenerational Transmission Nobility

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Find related papers by JEL classification:
J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends and Forecasts
J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure

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  1. Raquel Fernández & Nezih Guner & John Knowles, 2005. "Love and Money: A Theoretical and Empirical Analysis of Household Sorting and Inequality," The Quarterly Journal of Economics, MIT Press, vol. 120(1), pages 273-344, January.
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  2. Samuel Bowles & Herbert Gintis, 2002. "The Inheritance of Inequality," Journal of Economic Perspectives, American Economic Association, vol. 16(3), pages 3-30, Summer. [Downloadable!] (restricted)
  3. Scott Drewianka, 2003. "Estimating Social Effects in Matching Markets: Externalities in Spousal Search," The Review of Economics and Statistics, MIT Press, vol. 85(2), pages 409-423, 02. [Downloadable!] (restricted)
  4. Kremer, Michael, 1997. "How Much Does Sorting Increase Inequality?," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 115-39, February.
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  5. Becker, Gary S, 1973. "A Theory of Marriage: Part I," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 813-46, July-Aug.. [Downloadable!] (restricted)
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  6. Alberto Bisin & Thierry Verdier, 2000. ""Beyond The Melting Pot": Cultural Transmission, Marriage, And The Evolution Of Ethnic And Religious Traits," The Quarterly Journal of Economics, MIT Press, vol. 115(3), pages 955-988, August. [Downloadable!] (restricted)
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  7. Raquel Fernández & Richard Rogerson, 2001. "Sorting And Long-Run Inequality," The Quarterly Journal of Economics, MIT Press, vol. 116(4), pages 1305-1341, November. [Downloadable!] (restricted)
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  8. Benny Moldovanu & Aner Sela & Xianwen Shi, 2007. "Contests for Status," Journal of Political Economy, University of Chicago Press, vol. 115, pages 338-363. [Downloadable!] (restricted)
    Other versions:
    • Benny Moldovanu & Aner Sela & Xianwen Shi, 2005. "Contests for Status," Discussion Papers 139, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
  9. Gary S. Becker, Kevin M. Murphy, and Ivan Werning, 2005. "The Equilibrium Distribution of Income and the Market for Status," Journal of Political Economy, University of Chicago Press, vol. 113(2), pages 282-310, April.
  10. Sheryl Ball & Catherine Eckel & Philip J. Grossman & William Zame, 2001. "Status In Markets," The Quarterly Journal of Economics, MIT Press, vol. 116(1), pages 161-188, February. [Downloadable!] (restricted)
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