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Marriage and the Family: An Economic Approach
Chapter 3
Part II
Chapter 3 Part II (continuation)
There are a variety of Reasons Why Economists have undertaking the study of marriage:– Marriage is a central feature in a women’s
live (man)– Family is an Important Institution– Economics as CHOICE
Chapter 3 Part II (continuation)
There are a variety of Reasons Why Economists have undertaking the study of marriage (continuation):– Marriage is a Miniature Economy– Economics can bring different perspective
to the study a Marriage.
Gary Becker
Gary Becker
Gary Becker
Marital Status
Next Table from your Text, p. 55 Data is for Women Age 15 and older Data for 1950 and 1960 is adjusted due
to the fact that age included 14 and older
Data source is Current Population Reports
Marital Status Married,
Spouse Present (%)
NeverMarried
(%)
Divorced/Separated
(%)
2002 50.5 24.7 13.2
1990 53.3 22..8 11.8
1980 55.4 22.4 9.4
1970 58.4 22.1 5.7
1960 63.0 17.8 5.0
1950 66.8 18.8 2.4
US Women, % Ever Married by Age, 1960, 1980, 2000
0
10
20
30
40
50
60
70
80
90
100
18-19 20-24 25-29 30-34 35-39 40-44 45-54
Age Group
Pe
rce
nta
ge
1960
1980
200
YEARMARRIED, SPOUSE
PRESENTNEVER
MARRIED
ALL WOMEN -12.5 +7.3
Age 25-34 -23.0 +18.0
Education <12 years -17.5 +10.0
Education 16+ YEARS -6.9 +3.5
Source: Your Text p. 57. Between the years 1970 and 1995
Family Structure
Family Household Non-Family Household Householder
87.4
76.3
9.8
17.7
2.7 6
0
10
20
30
40
50
60
70
80
90
Pe
rce
nta
ge
Married Couple Female Householder Male HouseholderFamily Type
US Family Type, 1960 2002
1960
2002
90.9
72.2
8.2
22.4
0.9 5.3
0
10
20
30
40
50
60
70
80
90
100
Pe
rce
nta
ge
Married Couple Female Householder Male Householder
Family Type
US Family Type with Children Under 18
1960
2002
Marriage and Work
The Next set of Tables is from:
The next set of Tables are from:
The next set of tables is from:
Principle Agent
Principle-Agent Problem– Exists when the agent doesn’t fully do what
the principal want him/her to do– The interest of the principle and the agen
are generally very different– Problem in usually “knowledge”
Other Issues
Economies of Scale Risk Sharing Demand and Supply of Marriage Female/ Male Ratios
Ratio of Women to Men
Age All White Black Hispanic
20-24 99 98 117 116
25-29 100 96 125 120
30-34 98 98 125 108
35-39 98 99 125 117
Source your Text p. 90
