"For richer, for poorer": savings preferences and choice of spouse
Do couples share the same values? The social sciences have mainly concentrated on comparing the socioeconomic characteristics of spouses, but rarely their preferences to risk and time. In this paper, we use conventional measurements and an original method. We find that spouses are very similar in their savings preferences, even when we control for the individual characteristics. These conclusions are decisive in explaining wealth inequalities between households, since homogamy causes a divide in the population. However, if the correlation between preferences and wealth is clear when measured at the household level, spouses with opposite attitudes tend to be richer for some parameters.
|Date of creation:||Sep 2013|
|Date of revision:|
|Note:||View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00786245|
|Contact details of provider:|| Web page: http://hal.archives-ouvertes.fr/|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Raaum, Oddbjørn & Bratsberg, Bernt & Røed, Knut & Österbacka, Eva & Eriksson, Tor & Jäntti, Markus & Naylor, Robin, 2007.
"Marital Sorting, Household Labor Supply, and Intergenerational Earnings Mobility across Countries,"
IZA Discussion Papers
3037, Institute for the Study of Labor (IZA).
- Raaum Oddbjørn & Bratsberg Bernt & Røed Knut & Österbacka Eva & Eriksson Tor & Jäntti Markus & Naylor Robin A, 2008. "Marital Sorting, Household Labor Supply, and Intergenerational Earnings Mobility across Countries," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 7(2), pages 1-49, January.
- Raaum, Oddbjørn & Bratsberg, Bernt & Røed, Knut & Österbacka , Eva & Eriksson, Tor & Jäntti, Markus & Naylor, Robin, 2007. "Marital Sorting, Household Labor Supply, and Intergenerational Earnings Mobility across Countries," Memorandum 17/2007, Oslo University, Department of Economics.
- Luc Arrondel, 2013. "Are “daddy’s boys” just as rich as daddy? The transmission of values between generations," Journal of Economic Inequality, Springer, vol. 11(4), pages 439-471, December.
- Lucie Schmidt, 2008.
"Risk preferences and the timing of marriage and childbearing,"
Springer, vol. 45(2), pages 439-460, May.
- Lucie Schmidt, 2007. "Risk Preferences and the Timing of Marriage and Childbearing," Department of Economics Working Papers 2007-03, Department of Economics, Williams College.
- David Lam, 1988. "Marriage Markets and Assortative Mating with Household Public Goods: Theoretical Results and Empirical Implications," Journal of Human Resources, University of Wisconsin Press, vol. 23(4), pages 462-487.
- Kerwin Kofi Charles & Erik Hurst, 2002.
"The Correlation of Welath Across Generations,"
NBER Working Papers
9314, National Bureau of Economic Research, Inc.
- Laibson, David I., 1997.
"Golden Eggs and Hyperbolic Discounting,"
4481499, Harvard University Department of Economics.
- Becker, Gary S, 1973. "A Theory of Marriage: Part I," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 813-46, July-Aug..
- Jellal, Mohamed & Wolff, Francois-Charles, 2002. "Cultural evolutionary altruism: theory and evidence," European Journal of Political Economy, Elsevier, vol. 18(2), pages 241-262, June.
- Miles S. Kimball & Claudia R. Sahm & Matthew D. Shapiro, 2009.
"Risk Preferences in the PSID: Individual Imputations and Family Covariation,"
American Economic Review,
American Economic Association, vol. 99(2), pages 363-68, May.
- Miles S. Kimball & Claudia R. Sahm & Matthew D. Shapiro, 2009. "Risk Preferences in the PSID: Individual Imputations and Family Covariation," NBER Working Papers 14754, National Bureau of Economic Research, Inc.
- Junsen Zhang & Pak-Wai Liu, 2003. "Testing Becker’s Prediction on Assortative Mating on Spouses’Wages," Journal of Human Resources, University of Wisconsin Press, vol. 38(1).
- Michael Kremer, 1996.
"How Much Does Sorting Increase Inequality?,"
NBER Working Papers
5566, National Bureau of Economic Research, Inc.
- James P. Smith & John J. McArdle & Robert Willis, 2010.
"Financial Decision Making and Cognition in a Family Context,"
785, RAND Corporation Publications Department.
- James P. Smith & John J. McArdle & Robert Willis, 2010. "Financial Decision Making and Cognition in a Family Context," Economic Journal, Royal Economic Society, vol. 120(548), pages F363-F380, November.
- Robert A. Nakosteen & Olle Westerlund & Michael A. Zimmer, 2004. "Marital Matching and Earnings: Evidence from the Unmarried Population in Sweden," Journal of Human Resources, University of Wisconsin Press, vol. 39(4).
- Solon, Gary, 1992. "Intergenerational Income Mobility in the United States," American Economic Review, American Economic Association, vol. 82(3), pages 393-408, June.
- Pierre-André Chiappori & Olivier Donni, 2004.
"Les modèles non-unitaires de comportement du ménage: un survol de la littérature,"
Cahiers de recherche
- Chiappori, Pierre-André & Donni, Olivier, 2006. "Les modèles non unitaires de comportement du ménage : un survol de la littérature," L'Actualité Economique, Société Canadienne de Science Economique, vol. 82(1), pages 9-52, mars-juin.
- Becker, Gary S & Mulligan, Casey B, 1997. "The Endogenous Determination of Time Preference," The Quarterly Journal of Economics, MIT Press, vol. 112(3), pages 729-58, August.
- Michael Zimmer, 1996. "Assortative mating and ethnicity in the low wage population: an examination of spouses' earnings," Applied Economics Letters, Taylor & Francis Journals, vol. 3(5), pages 311-315.
When requesting a correction, please mention this item's handle: RePEc:hal:psewpa:halshs-00786245. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)
If references are entirely missing, you can add them using this form.