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Multidimensional Premarital Investments with Imperfect Commitment

Author

Listed:
  • V. Bhaskar
  • Wenchao Li
  • Junjian Yi

Abstract

We analyze premarital investments in human capital and housing when individuals are unable to make binding commitments to share their labor income with a prospective spouse. Investments are distorted if there are gender differences in bargaining power over own labor income or marriage market imbalances. Distortions are magnified when ex ante bargaining power favors one sex (e.g., women in China) and ex post bargaining power favors the other (e.g., men in China), since parents of boys will increase housing investments in order to credibly commit to share more resources with the boy’s potential wife, possibly crowding out human capital investments.

Suggested Citation

  • V. Bhaskar & Wenchao Li & Junjian Yi, 2023. "Multidimensional Premarital Investments with Imperfect Commitment," Journal of Political Economy, University of Chicago Press, vol. 131(10), pages 2893-2919.
    • Handle: RePEc:ucp:jpolec:doi:10.1086/724574
    DOI: 10.1086/724574
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    JEL classification:

    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • D10 - Microeconomics - - Household Behavior - - - General
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers

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