Transplants and Implants: The Economics of Self-Improvement

Kenneth Burdett and Melvyn Coles

International Economic Review, 2001, vol. 42, issue 3, 597-616

Abstract: This article examines equilibrium self-improvement and marriage proposal strategies in a two-sided search model with nontransferable utility. Singles are vertically differentiated--some make better marriage partners than others. A complete characterization of equilibrium is provided. It is shown there are two externalities to self-improvement decisions. Further, these externalities may support multiple Pareto rankable equilibria. By encouraging everybody to self-improve, society can create a situation where everybody is forced to improve to remain "acceptable." But a preferred equilibrium may exist where there is less (costly) self-improvement.

Date: 2001
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