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

Gonzalo Edwards

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.

Keywords


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

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