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The optimal reservation utility in models of decision making in arranged marriages

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  • Amitrajeet Batabyal

Abstract

The notion of a reservation quality or utility is a key feature of Batabyal's (2003a) recent analysis of decision making in arranged marriages. In this model, the magnitude of the reservation utility has a nontrivial impact on the decision to accept or decline a marriage proposal. Even so, Batabyal (2003a) treats the marrying agent's reservation utility as an exogenous variable. Consequently, the purpose of this article is to endogenize the reservation utility variable in the context of a dynamic and stochastic model of decision making in arranged marriages. Our analysis leads to two results. First, we demonstrate that the optimal reservation utility is the solution to a particular maximization problem. Second, we show that theoretical circumstances exist in which the optimal reservation utility is unique.

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  • Amitrajeet Batabyal, 2009. "The optimal reservation utility in models of decision making in arranged marriages," Applied Economics Letters, Taylor & Francis Journals, vol. 16(17), pages 1695-1698.
    • Handle: RePEc:taf:apeclt:v:16:y:2009:i:17:p:1695-1698
    DOI: 10.1080/13504850701625800
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    1. Amitrajeet Batabyal, 1999. "A dynamic and stochastic analysis of decision making in arranged marriages," Applied Economics Letters, Taylor & Francis Journals, vol. 6(7), pages 439-442.
    2. Batabyal, Amitrajeet A., 2001. "On the likelihood of finding the right partner in an arranged marriage," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 30(3), pages 273-280, May.
    3. Groot, W. & Oosterbeek, H., 1995. "Stochastic reservation and offer wages," Labour Economics, Elsevier, vol. 2(1), pages 107-107, March.
    4. Montgomery, Mark R. & Sulak, Donna B., 1989. "Female first marriage in East and Southeast Asia : A Kiefer-Neumann model," Journal of Development Economics, Elsevier, vol. 30(2), pages 225-240, April.
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