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Courtship as a Waiting Game

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  • Mark Bagnoli
  • Ted Bergstrom

    ()
    (University of Michigan, Economic)

Abstract

In most times and places, women on average marry men who are older than themselves. We propose a partial explanation for this difference and for why it is diminishing. In a society where the economic roles of males are more varied and specialized than the roles of females, it may be that the relative desirability of females as marriage partners becomes evident at an earlier age for females than it does for males. We study an equilibrium model in which the males who regard their prospects as unusually good choose to wait until their economic success is revealed before choosing a bride. In equilibrium, the most desirable young females choose successful older males. Young males who do not believe that time will not treat them kindly will offer to marry at a young age. Although they are aware that young males available for marriage are no bargain, the less desirable young females will be offered no better option than the lottery presented by marrying a young male. We show the existence of equilibrium for models of this type and explore the properties of equilibrium.

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Paper provided by University of Michigan, Department of Economics in its series Papers with number _030.

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Handle: RePEc:wop:michec:_030

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  1. Mark Bagnoli & Ted Bergstrom, 2005. "Log-concave probability and its applications," Economic Theory, Springer, vol. 26(2), pages 445-469, 08.
  2. Bergstrom, T & Schoeni, R-F, 1996. "Income Prospects and Age-at-Marriage," Papers 96-18, RAND - Reprint Series.
  3. Keeley, Michael C, 1977. "The Economics of Family Formation," Economic Inquiry, Western Economic Association International, vol. 15(2), pages 238-50, April.
  4. Gary S. Becker, 1974. "A Theory of Marriage: Part II," NBER Chapters, in: Marriage, Family, Human Capital, and Fertility, pages 11-26 National Bureau of Economic Research, Inc.
  5. Egbert Dierker, 1989. "Competition for Customers," Discussion Paper Serie A 244, University of Bonn, Germany.
  6. Christopher J. Flinn & James J. Heckman, 1982. "Are Unemployment and Out of the Labor Force Behaviorally Distinct Labor Force States?," NBER Working Papers 0979, National Bureau of Economic Research, Inc.
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