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Influence of Over-and Underconfidence on Marriage Market

Author

Listed:
  • Akiko Maruyama

    (Postgraduate, Kwansei Gakuin University)

Abstract

This paper is an examination of the influence of an individual’s self-confidence (over- confidence or underconfidence) on others in the marriage market. We consider a model in which there are three types of men and women according to marital charm, and some men/women overestimate/underestimate their own types. The result obtained is that the self-confidence of some single individuals affects not only themselves but also the marital behavior of other rational singles in the market. Furthermore, self-confidence improves the welfare of the economy if there are enough underconfident men/women or if there are sufficiently few overconfident men/women in the marriage market.

Suggested Citation

  • Akiko Maruyama, 2008. "Influence of Over-and Underconfidence on Marriage Market," Discussion Paper Series 36, School of Economics, Kwansei Gakuin University, revised Feb 2008.
    • Handle: RePEc:kgu:wpaper:36
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    References listed on IDEAS

    as
    1. Burdett, Kenneth & Coles, Melvyn G, 1999. "Long-Term Partnership Formation: Marriage and Employment," Economic Journal, Royal Economic Society, vol. 109(456), pages 307-334, June.
    2. Botond Köszegi, 2006. "Ego Utility, Overconfidence, and Task Choice," Journal of the European Economic Association, MIT Press, vol. 4(4), pages 673-707, June.
    3. Becker, Gary S, 1973. "A Theory of Marriage: Part I," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 813-846, July-Aug..
    4. Colin F. Camerer, 1997. "Progress in Behavioral Game Theory," Journal of Economic Perspectives, American Economic Association, vol. 11(4), pages 167-188, Fall.
    5. Becker, Gary S, 1974. "A Theory of Marriage: Part II," Journal of Political Economy, University of Chicago Press, vol. 82(2), pages 11-26, Part II, .
    6. Gary S. Becker, 1974. "A Theory of Marriage," NBER Chapters, in: Economics of the Family: Marriage, Children, and Human Capital, pages 299-351, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    marriage; search; overconfidence; underconfidence;
    All these keywords.

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure

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