• Media type: E-Book; Report
  • Title: Is Marriage as Good as a Contract?
  • Contributor: Cigno, Alessandro [Author]
  • imprint: Munich: Center for Economic Studies and ifo Institute (CESifo), 2013
  • Language: English
  • Keywords: K36 ; separate-property marriage ; contracts ; hold-up problem ; C78 ; J12 ; divorce legislation ; community-property marriage
  • Origination:
  • Footnote: Diese Datenquelle enthält auch Bestandsnachweise, die nicht zu einem Volltext führen.
  • Description: Neither marriage nor a legally enforceable contract serves any useful purpose if the parties have access to a perfect credit market. In the presence of credit rationing, efficiency and utility equalization are guaranteed only by a legally enforceable contract. Separate-property marriage may reduce and community-property marriage actually eliminate inefficiency, but neither of them guarantees utility equalization.
  • Access State: Open Access