Marriage Economics: Is Marriage Good or Bad? (Essay Sample)
Marriage is a complex topic to address with debatable benefits and drawbacks. The economic perspective suggests that marriage is an area that requires further investigation to determine whether the economic advantages outweigh its downside. The Game theory proves that Marriage is simply a non-cooperative game. The partners have to negotiate to obtain favourable conditions. It is unstable when problems arise, and even when the partners are willing to solve marital problems, the probability of the union becoming a non-cooperative game remains high. Drawing from the irrationality of the emotion that is love, marriage is bad. Economically, it has a high cost with a low marginal utility.
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Marriage Economics: Is Marriage Good or Bad?
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Introduction
Marriage is a legally binding agreement between two individuals(Louzek, 2022). Marriage partners may have divergent views about life in general. However, it is possible to track behavioural patterns within the marriage context by drawing from socio-biology and psycho-economics research. These patterns are evident in how partners spend their time, their childbearing decisions, and their perspectives on gender roles(Kearney & Levine, 2017). The economic view towards marriage is complex since it draws from the assumption that money as a means of exchange is not the sole currency. The partners contribute their emotions, time and commitment. These contributions are subject to their levels of wealth, social values, and intelligence quotient(IQ),which are exchangeable as value.[Partner is gender neutral term for spouse] [IQ tests will determine cognitive insight and offer a rating that reveals how a person's findings relate to others their age. Intelligence quotient (IQ) refers to psychological talents that include logical and visual ability, situational awareness, information processing, and analytical thinking.]
In this context, human behaviour has socio-biological roots, and economic principles influence the outcomes. The findings of this research will help determine whether marriage is good or bad. The essay will answer this question through a comprehensive and critical analysis of behaviours and economic theories that provide insight from an economic viewpoint. The qualitative and quantitative analysis will be integral in reaching an evidence-based conclusion. In Harford's view:
A logical approach to marriage and love not only stands to reason, but it also turns out to be the best
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