Marriage, Commitment and Divorce in a Matching Model with Differential Aging
This paper analyses a matching model of the marriage market with directed, on-the-job search. Everyone is born attractive but "matures" according to a Poisson process into unattractiveness. Marriages between equally attractive people are stable but mixed marriages are not. The implied patterns of marriage and divorce are consistent with those identified in the empirical literature. When the utility from being single is low, in order to commit to their relationship, attractive people in mixed marriages may voluntarily divest of their attractiveness. (Copyright: Elsevier)
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