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Peers, Buccaneers and Downton Abbey: An economic analysis of 19th century British aristocratic marriages

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  • Taylor, Mark P.

Abstract

The decline in late 19th century agricultural prices, by reducing the incomes of aristocratic landed estates and of non-aristocratic landed families, led to richly dowried American heiress brides being substituted for brides from landed families in British aristocratic marriages. This reflected a wider 19th century phenomenon of aristocratic substitution of foreign brides for landed brides and the substitution of daughters of British businessmen for daughters of landed families when agricultural prices declined. The results are consistent with positive assortative matching with lump-sum transfers (dowries), where landowning family dowries are cash constrained in periods of agricultural downturn.

Suggested Citation

  • Taylor, Mark P., 2021. "Peers, Buccaneers and Downton Abbey: An economic analysis of 19th century British aristocratic marriages," Economics Letters, Elsevier, vol. 205(C).
    • Handle: RePEc:eee:ecolet:v:205:y:2021:i:c:s016517652100207x
    DOI: 10.1016/j.econlet.2021.109930
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    References listed on IDEAS

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    1. Becker, Gary S, 1973. "A Theory of Marriage: Part I," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 813-846, July-Aug..
    2. Peter M. Solar & Jan Tore Klovland, 2011. "New series for agricultural prices in London, 1770–1914," Economic History Review, Economic History Society, vol. 64(1), pages 72-87, February.
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    More about this item

    Keywords

    Aristocracy; Agricultural depression; Wheat prices; Marriage; Assortative matching;
    All these keywords.

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General
    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
    • N00 - Economic History - - General - - - General
    • N53 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Europe: Pre-1913

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