ECN 340 Chapter Notes -Behavioral Economics, Reduced Cost, Daniel Kahneman
26 Oct 2013
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Department of economics fall 2013: the new home economics: marriage and divorce. Many couples want to marry for the mutual benefits it can bring. This is because marriage is fraught with potential costs. The discussion will focus in on how constraints on couples to stay together have greatly diminished, leading to a rise in the divorce rate. Certainly, higher incomes for women have greatly reduced one of the main constraints for a particular woman to stay in a relationship in which costs are greater than the perceived benefits. The availability of market services, such as restaurants and daycare services for children affects the cost-benefit of each of the partner: the production of children. How do couples arrive at the number of children they wish to have. In this section we investigate the variables each couple considers in arriving at the number of children each desires to have. Reading: mckenzie and tullock, chapter 6; hartford, chapter 2.
