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| Author: | Burdett, K. Coles, M. G. |
| Title: | Transplants and implants: the economics of self-improvement |
| Journal: | International Economic Review
2001 : AUG, VOL. 42:3, p. 597-616 |
| Index terms: | Economic theory Econometric models Marriage Pareto law Self-development |
| Language: | eng |
| Abstract: | The article examines equilibrium self-improvement and marriage proposal strategies in a two-sided search model with nontransferable utility. It is shown there are two externalities to self-improvement decisions. These externalities may support multiple Pareto rankable equilibria. By encouraging everybody to selfimprove, society can create a situation where everybody is forced to improve to remain "acceptable". But a preferred equilibrium may exist where there is less (costly) self-improvement. |
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