The Organization Of Family Interactions: Minimizing Transaction Costs And Strategic Behavior
The optimal organization of the family requires that relations are structured so that non-cooperative game playing is minimized and transaction costs are reduced. I show that therapeutic advice for behavior within the family is to create a functioning property rights system. Punishment is shown to be inferior to setting limits because the first encourages strategic game playing. I show why there is conflict between parent and their child even when the parent maximizes the childâ€™s expected discounted utility. In addition, I provide a model of the intergenerational transfer of behavior.
|Date of creation:||01 Feb 2005|
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