ECON 103 Lecture Notes - Lecture 18: Bride Price, Capital Good, Macroeconomics
13 Dec 2017
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With this in mind, let"s assume the following: men and women make their own choices of spouse, all men and women rank each other the same, monogamy only, no cheating in marriage, a price of spouse exits. This could be the form of dowry or bride price, but may just be the value of net wealth brought to the marriage. Under these terms we can draw demand and supply curves for spouses. That is, the demand for husbands is also the supply of wives, and vice versa. Once again, there are 4 million marriages, and a zero net price. If huspands paid for a wife, then 6m husbands would be demanded . The point of a model like this is to see if it can explain anything: what would be the effect of polygamy? (more than one wife) This raises the demand for wives, increasing the price of wives.
