It is commonly observed that over time and across societies, women tend to marry older men. The traditional explanation for this phenomenon is that wages increase with age and hence older men are more attractive in the marriage market…
Contents
1Introduction
2 A Search Model of Marriage with Differential Fecundity
2.1 ASimple2-periodModel
2.1.1 Assumptions
2.1.2 Payoffs
2.1.3 TheMan’sOptimizationProblem
2.1.4 TheWoman’sOptimizationProblem
2.1.5 SteadyStateEquilibrium
2.1.6 Example:UniformDistribution
2.2 AGeneralizedModel
2.2.1 TheMan’sOptimizationProblem
2.2.2 TheWoman’sOptimizationProblem
2.2.3 NumericalSolution
2.3 ComparisonwithCensusData
2.3.1 USCensus2000
2.3.2 France
2.3.3 Sweden
2.3.4 USinPreviousDecades
2.3.5 DevelopingCountries
3 A Model of Assortative Mating
3.1 TheMan’sProblem
3.1.1 Expected Utility of Marrying at age t
3.1.2 Probabilities of Marriage for Men
3.1.3 ObjectiveFunctionforMen
3.1.4 Men’sReservationValues
3.2 TheWoman’sProblem
3.2.1 Expected Utility of Marrying at age s
3.2.2 Probabilities of Marriage for Women
3.2.3 ObjectiveFunctionforWomen
3.2.4 ReservationValuesforWomen
3.3 StocksofSingleandMarriedPeople
3.3.1 Men
3.3.2 Women
3.4 NumericalSolution
3.4.1 Different Levels of Within Group Preference (τ )
3.4.2 DifferentSizeofEachGroup
3.5 ComparisonwithU.S.Data
3.5.1 InterracialMarriage
3.5.2 Husband with Lower Level of Education (Women “Marry-ingDown”)
3.5.3 AgeatFirstMarriage
3.5.4 SizeoftheGroupandFractionofEverMarried
3.6 DifferentMortalityRates
3.7 Summary
4 Changes on the Sex Ratio, Timing of Marriage and Spouse Char-acteristics
4.1 Comparative Statics: Effects of an Exogenous Change in the Sex Ratio
4.1.1 ReservationValues
4.1.2 Probability of Marriage
4.2 Data and Descriptive Statistics
4.3 EmpiricalFramework
4.4 Basic Results
4.4.1 Probability of Marriage
4.4.2 Spouse’sCharacteristics
4.5 Summary
5 Conclusion
A Complete Proof of Theorems 1 and 2
A.1 Existence
A.2 UniquenessintheEquilibriumStrategies
A.3 ProofofProposition3
Bibliography
Author: Giolito, Eugenio Pedro
Source: University of Maryland
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