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- Marriage outcomes are influenced by options available in the marriage market, which extends beyond personal choices of love and compatibility to factors like social standing, wealth, and education.
- Exploring relationships and taking time to understand personal preferences can lead to stronger and more successful marriages, as indicated by the decline in divorce rates and the trend of singles learning about themselves.
Deep dives
The Marriage Market and Economic Factors
Marriage is not only determined by personal choices, but also by the set of people one has met. The marriage market concept suggests that the person you end up with is determined by the options available. Preferences like love and compatibility are commonly associated with marriage, but economists focus on other factors such as social standing, wealth, and education. Historical examples like the London season, an exclusive marriage market, show how institutional arrangements and social hierarchies can influence marriage outcomes.
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Listen to the best highlights from the podcasts you love and dive into the full episode