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A Search Model of Marriage and Divorce

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  • Tracy J. Cornelius

    (University of Wales, Swansea)

Abstract

This paper analyses long term partnership formation in a marriage market in which individuals continue to search for partners while matched. Individuals prefer relationships which offer more instantaneous utility but they also prefer more stable relationships. A relationship is more stable for one partner if there is less chance that the other partner will leave. An individual is more inclined to leave a relationship which offers less instantaneous utility and less stability. Since both partners are making these evaluations, the stability of the relationship for one companion depends on the stability of the relationship for the other and as such, separation rates are endogenous. It is shown that these feedback effects in search strategies generate a new type of multiple equilibria in which particular matches can be either stable or unstable depending on individuals beliefs. (Copyright: Elsevier)

Suggested Citation

  • Tracy J. Cornelius, 2003. "A Search Model of Marriage and Divorce," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(1), pages 135-155, January.
  • Handle: RePEc:red:issued:v:6:y:2003:i:1:p:135-155
    DOI: 10.1016/S1094-2025(02)00012-1
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    References listed on IDEAS

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    1. Robert Shimer & Lones Smith, 2000. "Assortative Matching and Search," Econometrica, Econometric Society, vol. 68(2), pages 343-370, March.
    2. Eeckhout, Jan, 1999. "Bilateral Search and Vertical Heterogeneity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(4), pages 869-887, November.
    3. Wright, Randall, 1986. "Job Search and Cyclical Unemployment," Journal of Political Economy, University of Chicago Press, vol. 94(1), pages 38-55, February.
    4. Diamond, Peter A, 1982. "Aggregate Demand Management in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 881-894, October.
    5. Lones Smith, 2006. "The Marriage Model with Search Frictions," Journal of Political Economy, University of Chicago Press, vol. 114(6), pages 1124-1146, December.
    6. Burdett, Kenneth & Coles, Melvyn G, 1999. "Long-Term Partnership Formation: Marriage and Employment," Economic Journal, Royal Economic Society, vol. 109(456), pages 307-334, June.
    7. Burdett Kenneth & Imai Ryoichi & Wright Randall, 2004. "Unstable Relationships," The B.E. Journal of Macroeconomics, De Gruyter, vol. 1(1), pages 1-44, January.
    8. Jovanovic, Boyan, 1979. "Job Matching and the Theory of Turnover," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 972-990, October.
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    Cited by:

    1. Mario Vozar, 2010. "The Effect of Time in a Multi-Dimensional Marriage Market Model," CERGE-EI Working Papers wp417, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    2. Nobuhiro Kiyotaki & Ricardo Lagos, 2007. "A Model of Job and Worker Flows," Journal of Political Economy, University of Chicago Press, vol. 115(5), pages 770-819, October.
    3. Giolito Eugenio, 2010. "On Population Structure and Marriage Dynamics," The B.E. Journal of Macroeconomics, De Gruyter, vol. 10(1), pages 1-54, November.
    4. Batabyal, Amitrajeet & Yoo, Seung Jick, 2016. "Effort Application in an Arranged Marriage: A Game-Theoretic Analysis," MPRA Paper 74745, University Library of Munich, Germany.
    5. Eugenio Giolito, 2004. "A Search Model of Marriage with Differential Fecundity," Labor and Demography 0402007, EconWPA.
    6. Batabyal, Amitrajeet, 2016. "Making an arranged marriage work: A game-theoretic analysis," MPRA Paper 71199, University Library of Munich, Germany, revised 06 May 2016.
    7. Pieter A. Gautier & Michael Svarer & Coen N. Teulings, 2007. "Sin City?," CAM Working Papers 2007-01, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics.
    8. Gil S. Epstein & Renana Lindner Pomerantz, 2013. "Assimilation through Marriage," Review of International Economics, Wiley Blackwell, vol. 21(2), pages 191-203, May.
    9. Ueda, Kenichi, 2013. "Banks as coordinators of economic growth and stability: Microfoundation for macroeconomy with externality," Journal of Economic Theory, Elsevier, vol. 148(1), pages 322-352.
    10. Coles, Melvyn & Francesconi, Marco, 2007. "On the Emergence of Toyboys: Equilibrium Matching with Ageing and Uncertain Careers," IZA Discussion Papers 2612, Institute for the Study of Labor (IZA).
    11. Amanda Gosling & Maria D. C. Garcia-Alonso, 2015. "Endogenous divorce and human capital production," Studies in Economics 1521, School of Economics, University of Kent.

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