C. Theoretic Considerations
The quality monetary theory off marriage implies that some one like to wed if the electric of having a wedding is higher than the new electric whenever unmarried (Becker 1973, 1974). For each and every widow possess a monetary benefit of prepared up until she actually is 60 years of age so you can remarry, which is the difference in today’s discount viewpoints of the Social Cover positives for marrying later and you can marrying today. The expense of would love to remarry is sold with such things as forgone company together with failure to fairly share expenditures. The benefit and value are very different depending on the decades of which the new widow was given remarriage. Depending on appointment a prospective lover, the price of waiting minimizes while the benefit develops as the she methods many years sixty. She’ll remarry whether your cost of prepared exceeds the main benefit.
H1: The 1979 legislation got rid of the new punishment getting remarriage after ages sixty, and thus enhancing the advantageous asset of looking forward to widows less than 60 and you may decreasing the price of remarriage in the decades sixty otherwise old. Read more