Under the existing marriage contracts, the default length of a marriage is the total remaining lifespan of the spouses. This paper aims at questioning the standard long-term marriage contracts by exploring the conditions under which short-term contracts would be more desirable. Using a two-period collective household model, we show that, under general conditions on individual preferences and household production technology, short-term marriage contracts, if available, would dominate long-term contracts. Moreover, the recent equalization of bargaining power within the household is shown to make short-term contracts even more desirable than in the past.


Back To Top

This website uses cookies to ensure you get the best experience on our website. Without cookies your experience may not be seamless.