Marriage and Consumption Insurance: What's Love Got to Do with It?
Gregory Hess ()
Journal of Political Economy, 2004, vol. 112, issue 2, pages 290-318
When markets are incomplete, individuals may choose to marry to diversify their labor income risk. Love, however, can complicate the picture. If love is fleeting or the resolution of agents' income uncertainty occurs predominantly later in life, then marriages with good economic matches last longer. In contrast, if love is persistent and the resolution of uncertainty to agents' income occurs early, then marriages with good economic matches are more likely to be caught short with too little love to save a marriage. Consequently, once married, the partners will be more likely to divorce. Evidence is provided to distinguish between these alternative scenarios.
References: Add references at CitEc
Citations View citations in EconPapers (22) Track citations by RSS feed
Downloads: (external link)
http://www.journals.uchicago.edu/cgi-bin/resolve?JPE112204PDF main text (application/pdf)
Access to the online full text or PDF requires a subscription.
Working Paper: Marriage and Consumption Insurance: What's Love Got To Do With It? (2002)
Working Paper: Marriage and Consumption Insurance: What’s Love Got to do With It? (2001)
Working Paper: Marriage and consumption insurance: what's love got to do with it? (2001)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:ucp:jpolec:v:112:y:2004:i:2:p:290-318
Access Statistics for this article
Journal of Political Economy is currently edited by April
More articles in Journal of Political Economy from University of Chicago Press
Series data maintained by Journals Division ().