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Marriage and the value of waiting

Author

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  • Frank Strobel

Abstract

Using a simple model where singles try to maximize their “pizazz”, we examine the value of the option to give up single life in favor of marriage when singles’ pizazz levels follow correlated geometric Brownian motions. We derive the critical level of relative pizazz levels that triggers the move to marriage and find that for relatively small (large) potential economies of scale in marriage, a single will generally be willing to get married if his/her prospective partner’s pizazz is strictly higher (lower) than his/her own. Copyright Springer-Verlag 2003

Suggested Citation

  • Frank Strobel, 2003. "Marriage and the value of waiting," Journal of Population Economics, Springer;European Society for Population Economics, vol. 16(3), pages 423-430, August.
    • Handle: RePEc:spr:jopoec:v:16:y:2003:i:3:p:423-430
    DOI: 10.1007/s00148-003-0110-0
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    Citations

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    Cited by:

    1. Valerio Filoso, 2009. "Divorce And The Option Value Of Marital Search," Metroeconomica, Wiley Blackwell, vol. 60(1), pages 119-149, February.
    2. Di Corato, Luca, 2012. "Optimal conservation policy under imperfect intergenerational altruism," Journal of Forest Economics, Elsevier, vol. 18(3), pages 194-206.
    3. Ejrnæs, Mette & García-Miralles, Esteban & Gørtz, Mette & Lundborg, Petter, 2023. "When Death Was Postponed: The Effect of HIV Medication on Work, Savings, and Marriage," IZA Discussion Papers 16228, Institute of Labor Economics (IZA).
    4. Mette Ejrnæs & Esteban García-Miralles & Mette Gørtz & Petter Lundborg, 2022. "When Death was Postponed: The Effect of HIV Medication on Work and Marriage," CEBI working paper series 22-08, University of Copenhagen. Department of Economics. The Center for Economic Behavior and Inequality (CEBI).

    More about this item

    Keywords

    Marriage; option; J1;
    All these keywords.

    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics

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