Competing Premarital Investment

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Competing Premarital Investment

Author Info

Michael Peters
Aloysius Siow

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Abstract

This paper studies pre-marital parental investments in their chil- dren's wealth where spousal wealth is a public good in marriage. By investing in their children's wealth, parents increase the wealth of their children and the quality of the spouses that their children can marry. In large marriage markets, the hedonic return to investment internal- izes all the external benefits of pre-marital investment in wealth so that the competitive equilibrium is efficient. Marriage market compe- tition also increases investments in small marriage markets relative to no competition, but equilibrium investments are not efficient.

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Paper provided by University of Toronto, Department of Economics in its series Working Papers with number peters-01-02.

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Length: 21 pages
Date of creation: 21 Mar 2001
Date of revision:
Handle: RePEc:tor:tecipa:peters-01-02

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Article
- Michael Peters & Aloysius Siow, 2002. "Competing Premarital Investments," Journal of Political Economy, University of Chicago Press, vol. 110(3), pages 592-608, June. [Downloadable!] (restricted)
Paper
- Michael Peters & Aloysius Siow, 2000. "Competing Pre-marital Investments," Working Papers peters-00-01, University of Toronto, Department of Economics. [Downloadable!]

This paper has been announced in the following NEP Reports:

NEP-ALL-2004-09-05 (All new papers)

References listed on IDEAS
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.:

Lones Smith, 2006. "The Marriage Model with Search Frictions," Journal of Political Economy, University of Chicago Press, vol. 114(6), pages 1124-1146, December. [Downloadable!] (restricted)
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Other versions:
- Michael Peters, 1998. "Limits of Exact Equilibria for Capacity Constrained Sellers with costlySearch," Working Papers peters-98-01, University of Toronto, Department of Economics. [Downloadable!]
Philip J. Reny, 1999. "On the Existence of Pure and Mixed Strategy Nash Equilibria in Discontinuous Games," Econometrica, Econometric Society, vol. 67(5), pages 1029-1056, September.
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Other versions:
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- Leonardo Felli & Kevin Roberts, . "Does Competition Solve the Hold-up Problem?," CARESS Working Papres 00-04, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences. [Downloadable!]
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Aloysius Siow & Xiaodong Zhu, 1998. "Differential Fecundity and Gender Biased Parental Investment," Working Papers siow-99-03, University of Toronto, Department of Economics. [Downloadable!]
Acemoglu, Daron, 1997. "Training and Innovation in an Imperfect Labour Market," Review of Economic Studies, Blackwell Publishing, vol. 64(3), pages 445-64, July. [Downloadable!] (restricted)
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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.. [Downloadable!] (restricted)
Other versions:
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Konrad, K.A. & Lommerud, K.E., 2000. "The Bargaining Family Revisited," Norway; Department of Economics, University of Bergen 212, Department of Economics, University of Bergen.
Other versions:
- Konrad, Kai A & Lommerud, Kjell Erik, 1996. "The Bargaining Family Revisited," CEPR Discussion Papers 1312, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
- Kai A. Konrad & Kjell Erik Lommerud, 2000. "The bargaining family revisited," Canadian Journal of Economics, Canadian Economics Association, vol. 33(2), pages 471-487, May. [Downloadable!] (restricted)
Maristella Botticini & Aloysius Siow, 1999. "Why Dowries?," Boston University - Institute for Economic Development 95, Boston University, Institute for Economic Development.
Other versions:
- Maristella Botticini & Aloysius Siow, 2000. "Why Dowries?," Econometric Society World Congress 2000 Contributed Papers 0200, Econometric Society. [Downloadable!]
- Maristella Botticini & Aloysius Siow, 2003. "Why Dowries?," American Economic Review, American Economic Association, vol. 93(4), pages 1385-1398, September. [Downloadable!]
Harold L. Cole & George J. Mailath & Andrew Postlewaite, 1998. "Efficient non-contractible investments," Staff Report 253, Federal Reserve Bank of Minneapolis. [Downloadable!]
Other versions:
- Harold L. Cole & George J. Mailath & Andrew Postlewaite, . "Efficient Non-Contractible Investments," Penn CARESS Working Papers 08d6793d32cab8f6e1f46dac0, Penn Economics Department. [Downloadable!]
- Harold L. Cole & George J. Mailath & Andrew Postlewaite, . ""Efficient Non-Contractible Investments''," CARESS Working Papres 98-13, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
Allen, Beth & Hellwig, Martin, 1986. "Bertrand-Edgeworth Oligopoly in Large Markets," Review of Economic Studies, Blackwell Publishing, vol. 53(2), pages 175-204, April. [Downloadable!] (restricted)
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Other versions:
- Ted Bergstrom & Larry Blume & Hal Varian, 1986. "On the Private Provision of Public Goods," University of California at Santa Barbara, Economics Working Paper Series 1986B, Department of Economics, UC Santa Barbara. [Downloadable!]

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