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Transplants and implants: The economics of self-improvement

Burdett, K and Coles, MG (2001) 'Transplants and implants: The economics of self-improvement.' International Economic Review, 42 (3). 597 - 616. ISSN 0020-6598

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Abstract

This article examines equilibrium self-improvement and marriage proposal strategies in a two-sided search model with nontransferable utility. Singles are vertically differentiated - some make better marriage partners than others. A complete characterization of equilibrium is provided. It is shown there are two externalities to self-improvement decisions. Further, these externalities may support multiple Pareto rankable equilibria. By encouraging everybody to self-improve, 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.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 04 Jan 2013 12:55
Last Modified: 22 Jan 2019 20:15
URI: http://repository.essex.ac.uk/id/eprint/4896

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