This book provides a comprehensive, modern, and self-contained account of the research in the growing area of family economics. It is intended for graduate students in economics and for researchers in other fields interested in the economic approach to the family.

What sort of contract is marriage? What does it offer the parties? What are the difficulties of enforcement, and the result of failed effective enforcement? This book takes an economic approach to marriage and divorce, considering the key role of incentives in family law: it highlights the possible adverse consequences emanating from faulty legal design, while demonstrating that good family law should provide incentives for consistent and honest behavior. Economists, specialists in the economic analysis of law, and academic lawyers discuss recent advances in specialist work on marriage, cohabitation, and divorce. Chapters are grouped around four topics: the contractual perspectives on marriage commitment; the regulatory framework surrounding divorce; bargaining and commitment issues relating to marriage and near-marriage arrangements; and finally empirical work, which focuses on the impact of more liberal divorce laws. This important new study will be of considerable interest to lawyers, policy-makers and economists concerned with family law.

Over the past few decades, matching models, which use mathematical frameworks to analyze allocation mechanisms for heterogeneous products and individuals, have attracted renewed attention in both theoretical and applied economics. These models have been used in many contexts, from labor markets to organ donations, but recent work has tended to focus on "nontransferable" cases rather than matching models with transfers. In this important book, Pierre-André Chiappori fills a gap in the literature by presenting a clear and elegant overview of matching with transfers and provides a set of tools that enable the analysis of matching patterns in equilibrium, as well as a series of extensions. He then applies these tools to the field of family economics and shows how analysis of matching patterns and of the incentives thus generated can contribute to our understanding of long-term economic trends, including inequality and the demand for higher education.

Marriage is an institution that plays a central role in most societies. As it affects decisions regarding labor supply, consumption, reproduction, and other important decisions, marriage receives considerable attention in academic circles. Much research has been done about marriage, principally by sociologists, psychologists, and anthropologists.

There was a time when the phrase "American family" conjured up a single, specific image: a breadwinner dad, a homemaker mom, and their 2.5 kids living comfortable lives in a middle-class suburb. Today, that image has been shattered, due in part to skyrocketing divorce rates, single parenthood, and increased out-of-wedlock births. But whether it is conservatives bewailing the wages of moral decline and women's liberation, or progressives celebrating the result of women's greater freedom and changing sexual mores, most Americans fail to identify the root factor driving the changes: economic inequality that is remaking the American family along class lines. In Marriage Markets, June Carbone and Naomi Cahn examine how macroeconomic forces are transforming our most intimate and important spheres, and how working class and lower income families have paid the highest price. Just like health, education, and seemingly every other advantage in life, a stable two-parent home has become a luxury that only the well-off can afford. The best educated and most prosperous have the most stable families, while working class families have seen the greatest increase in relationship instability. Why is this so? The book provides the answer: greater economic inequality has profoundly changed marriage markets, the way men and women match up when they search for a life partner. It has produced a larger group of high-income men than women; written off the men at the bottom because of chronic unemployment, incarceration, and substance abuse; and left a larger group of women with a smaller group of comparable men in the middle. The failure to see marriage as a market affected by supply and demand has obscured any meaningful analysis of the way that societal changes influence culture. Only policies that redress the balance between men and women through greater access to education, stable employment, and opportunities for social mobility can produce a culture that encourages commitment and investment in family life. A rigorous and enlightening account of why American families have changed so much in recent decades, Marriage Markets cuts through the ideological and moralistic rhetoric that drives our current debate. It offers critically needed solutions for a problem that will haunt America for generations to come.

In an era when half of marriages end in divorce, cohabitation has become more commonplace and those who do get married are doing so at an older age. So why do people marry when they do? And why do some couples choose to cohabit? A team of expert family sociologists examines these timely questions in Marriage and Cohabitation, the result of their research over the last decade on the issue of union formation. Situating their argument in the context of the Western world’s 500-year history of marriage, the authors reveal what factors encourage marriage and cohabitation in a contemporary society where the end of adolescence is no longer signaled by entry into the marital home. While some people still choose to marry young, others elect to cohabit with varying degrees of commitment or intentions of eventual marriage. The authors’ controversial findings suggest that family history, religious affiliation, values, projected education, lifetime earnings, and career aspirations all tip the scales in favor of either cohabitation or marriage. This book lends new insight into young adult relationship patterns and will be of interest to sociologists, historians, and demographers alike.

Over half of all births to young adults in the United States now occur outside of marriage, and many are unplanned. The result is increased poverty and inequality for children. The left argues for more social support for unmarried parents; the right argues for a return to traditional marriage. In Generation Unbound, Isabel V. Sawhill offers a third approach: change "drifters" into "planners." In a well-written and accessible survey of the impact of family structure on child well-being, Sawhill contrasts "planners," who are delaying parenthood until after they marry, with "drifters," who are having unplanned children early and outside of marriage. These two distinct patterns are contributing to an emerging class divide and threatening social mobility in the United States. Sawhill draws on insights from the new field of behavioral economics, showing that it is possible, by changing the default, to move from a culture that accepts a high number of unplanned pregnancies to a culture in which adults only have children when they are ready to be a parent.

Conquering the dating market—from an economist’s point of view After more than twenty years, economist Paul Oyer found himself back on the dating scene—but what a difference a few years made. Dating was now dominated by sites like Match.com, eHarmony, and OkCupid. But Oyer had a secret weapon: economics. It turns out that dating sites are no different than the markets Oyer had spent a lifetime studying. Monster.com, eBay, and other sites where individuals come together to find a match gave Oyer startling insight into the modern dating scene. The arcane language of economics—search, signaling, adverse selection, cheap talk, statistical discrimination, thick markets, and network externalities—provides a useful guide to finding a mate. Using the ideas that are central to how markets and economics and dating work, Oyer shows how you can apply these ideas to take advantage of the economics in everyday life, all around you, all the time. For all online daters—and for anyone else swimming in the vast sea of the information economy—this book uses Oyer’s own experiences, and those of millions of others, to help you navigate the key economic concepts that drive the modern age.

An analysis of the enormous changes in women's economic lives around the world, from the family to the labour market. Hoffman and Averett examine topics such as the effect of rising women's wages and improved labour market opportunities on marriage, the ways in which more reliable contraception has shaped women's adult lives and careers, and the forces behind the phenomenal rise in women's labour force activity. This fourth edition includes brand new chapters on gender in economics and race and gender in the USA. It incorporates the latest research findings throughout, many of which are featured in helpful call-out boxes, and illustrated with new graphs and figures. This is invaluable reading for undergraduate and postgraduate students of economics, development and women's studies. The level of economic analysis is suitable for students with basic economics knowledge. New to this Edition: - New chapters on gender in economics and race and gender in economics - Fully updated with new data, policy examples and a new companion website with lecturer resources - Increased pedagogy, with over 30 new boxes