Asymmetries in utility functions and marriage decisions: a ramsey-koopmans approach

Gonzalo Edwards

doi:10.4067/S0718-88702018000200091

Authors

Gonzalo Edwards Institute of Economics of Pontificia Universidad Católica de Chile.

DOI:

https://doi.org/10.4067/S0718-88702018000200091

Keywords:

Ramsey model, rate of time preference, marriage decision, value of impatience, value of risk aversion

Abstract

This paper determines an empirical indicator for the cost of marrying a spouse with a different level of impatience or rate of time preference, and/or a different degree of aversion to intertemporal variability in consumption. Empirical data from different published sources are used to calibrate the model.

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