Pierre-andré Chiappori - Academia.edu (original) (raw)
Papers by Pierre-andré Chiappori
The purpose of this chapter is to provide a simple equilibrium framework for the joint determinat... more The purpose of this chapter is to provide a simple equilibrium framework for the joint determination of pre-marital schooling and marriage patterns of men and women. Couples sort according to education and, therefore, changes in the aggregate supply of educated individuals affects who marries whom and the division of the gains from marriage. Unlike other attributes such as race and ethnic background, schooling is an acquired trait that is subject to choice. Acquiring education yields two different returns: First, a higher earning capacity and better job opportunities in the labor market. Second, an improvement in the intra-marital share of the surplus one can extract in the marriage market. Educational attainment influences intra-marital shares by raising the prospects of marriage with an educated spouse and thus raising household income upon marriage, and by affecting the competitive strength outside marriage and the spousal roles within marriage. The gains from schooling within ma...
Theoretical Economics
While many theoretical works, particularly in family economics, rely on the transferable utility ... more While many theoretical works, particularly in family economics, rely on the transferable utility (TU) assumption, its exact implications in terms of individual preferences have never been fully worked out. In this paper, we provide a set of necessary and sufficient conditions for a group to satisfy the TU property. We express these conditions in terms of both individual indirect utilities and individual demand functions. Last, we describe the link between this question and a standard problem in consumer theory (initially raised by Gorman 1953), and explain why a similar characterization in terms of direct utilities cannot obtain.
Annual Review of Economics
This article reviews recent developments in the literature on marriage markets. A particular emph... more This article reviews recent developments in the literature on marriage markets. A particular emphasis is put on frameworks based either on frictionless matching models with transfers or on search models. Expected final online publication date for the Annual Review of Economics, Volume 12 is August 3, 2020. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.
Journal of Human Capital
In many economic contexts, agents from a same population team up to better exploit their human ca... more In many economic contexts, agents from a same population team up to better exploit their human capital. In such contexts (often called "roommate matching problems"), stable matchings may fail to exist even when utility is transferable. We show that when each individual has a close substitute, a stable matching can be implemented with minimal policy intervention. Our results shed light on the stability of partnerships on the labor market. Moreover, they imply that the tools crafted in empirical studies of the marriage problem can easily be adapted to many roommate problems.
American Economic Review
We construct a model of household decision-making in which agents consume a private and a public ... more We construct a model of household decision-making in which agents consume a private and a public good, interpreted as children's welfare. Children's utility depends on their human capital, which depends on the time their parents spend with them and on the parents' human capital. We first show that as returns to human capital increase, couples at the top of the income distribution should spend more time with their children. This in turn should reinforce assortative matching, in a sense that we precisely define. We then embed the model into a transferable utility matching framework with random preferences, à la Choo and Siow (2006), which we estimate using US marriage data for individuals born between 1943 and 1972. We find that the preference for partners of the same education has significantly increased for white individuals, particularly for the highly educated. We find no evidence of such an increase for black individuals. Moreover, in line with theoretical predictions...
Theoretical Economics, 2016
Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch ge... more Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may be saved and copied for your personal and scholarly purposes. You are not to copy documents for public or commercial purposes, to exhibit the documents publicly, to make them publicly available on the internet, or to distribute or otherwise use the documents in public.
Journal of Demographic Economics, 2015
In his seminal, 1973 paper, published in the Journal of Political Economy, Gary Becker emphasizes... more In his seminal, 1973 paper, published in the Journal of Political Economy, Gary Becker emphasizes marriage as a crucial, yet understudied issue to which economic analysis could, therefore should, be applied. In his words: “Yet, one type of behavior has been almost completely ignored by economists, although scarce resources are used and it has been followed in some form by practically all adults in every recorded society. I refer to marriage.” (p. 814)
Handbook of Insurance, 2013
L'Actualité économique, 2005
Résumé Dans cet article, on étudie en quoi l’introduction d’une approche collective modifie les a... more Résumé Dans cet article, on étudie en quoi l’introduction d’une approche collective modifie les analyses de bien-être classiques en théorie du consommateur. Après avoir défini et caractérisé les principaux concepts, on décrit deux logiques possibles, celle de la « compensation potentielle » et celle de la « compensation effective ». On discute ensuite de leurs implications.
SSRN Electronic Journal, 2000
Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch ge... more Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may be saved and copied for your personal and scholarly purposes. You are not to copy documents for public or commercial purposes, to exhibit the documents publicly, to make them publicly available on the internet, or to distribute or otherwise use the documents in public. If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence.
Hedonic pricing with quasilinear preferences is shown to be equivalent to stable matching with tr... more Hedonic pricing with quasilinear preferences is shown to be equivalent to stable matching with transferable utilities and a participation constraint, and to an optimal transportation (Monge-Kantorovich) linear programming problem. Optimal assignments in the latter correspond to stable matchings, and to hedonic equilibria. These assignments are shown to exist in great generality; their marginal indirect payoffs with respect to agent type
Revue d'économie financière, 1992
Revue française d'économie, 1993
ABSTRACT
Revue française d'économie, 1991
En la matière, cependant, la prudence est de mise. Le mouvement général de déréglementation finan... more En la matière, cependant, la prudence est de mise. Le mouvement général de déréglementation financière, à son apogée dans les années quatre-vingt , paraît marquer le pas. La crise des Caisses d'Epargne américaines, avec un coût chiffré en centaines de milliards de dollars, restera l' ...
Revue d'économie financière, 1995
Revue d'économie financière, 1996
Revue économique, 1990
ABSTRACT
Revue économique, 1984
ABSTRACT
The purpose of this chapter is to provide a simple equilibrium framework for the joint determinat... more The purpose of this chapter is to provide a simple equilibrium framework for the joint determination of pre-marital schooling and marriage patterns of men and women. Couples sort according to education and, therefore, changes in the aggregate supply of educated individuals affects who marries whom and the division of the gains from marriage. Unlike other attributes such as race and ethnic background, schooling is an acquired trait that is subject to choice. Acquiring education yields two different returns: First, a higher earning capacity and better job opportunities in the labor market. Second, an improvement in the intra-marital share of the surplus one can extract in the marriage market. Educational attainment influences intra-marital shares by raising the prospects of marriage with an educated spouse and thus raising household income upon marriage, and by affecting the competitive strength outside marriage and the spousal roles within marriage. The gains from schooling within ma...
Theoretical Economics
While many theoretical works, particularly in family economics, rely on the transferable utility ... more While many theoretical works, particularly in family economics, rely on the transferable utility (TU) assumption, its exact implications in terms of individual preferences have never been fully worked out. In this paper, we provide a set of necessary and sufficient conditions for a group to satisfy the TU property. We express these conditions in terms of both individual indirect utilities and individual demand functions. Last, we describe the link between this question and a standard problem in consumer theory (initially raised by Gorman 1953), and explain why a similar characterization in terms of direct utilities cannot obtain.
Annual Review of Economics
This article reviews recent developments in the literature on marriage markets. A particular emph... more This article reviews recent developments in the literature on marriage markets. A particular emphasis is put on frameworks based either on frictionless matching models with transfers or on search models. Expected final online publication date for the Annual Review of Economics, Volume 12 is August 3, 2020. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.
Journal of Human Capital
In many economic contexts, agents from a same population team up to better exploit their human ca... more In many economic contexts, agents from a same population team up to better exploit their human capital. In such contexts (often called "roommate matching problems"), stable matchings may fail to exist even when utility is transferable. We show that when each individual has a close substitute, a stable matching can be implemented with minimal policy intervention. Our results shed light on the stability of partnerships on the labor market. Moreover, they imply that the tools crafted in empirical studies of the marriage problem can easily be adapted to many roommate problems.
American Economic Review
We construct a model of household decision-making in which agents consume a private and a public ... more We construct a model of household decision-making in which agents consume a private and a public good, interpreted as children's welfare. Children's utility depends on their human capital, which depends on the time their parents spend with them and on the parents' human capital. We first show that as returns to human capital increase, couples at the top of the income distribution should spend more time with their children. This in turn should reinforce assortative matching, in a sense that we precisely define. We then embed the model into a transferable utility matching framework with random preferences, à la Choo and Siow (2006), which we estimate using US marriage data for individuals born between 1943 and 1972. We find that the preference for partners of the same education has significantly increased for white individuals, particularly for the highly educated. We find no evidence of such an increase for black individuals. Moreover, in line with theoretical predictions...
Theoretical Economics, 2016
Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch ge... more Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may be saved and copied for your personal and scholarly purposes. You are not to copy documents for public or commercial purposes, to exhibit the documents publicly, to make them publicly available on the internet, or to distribute or otherwise use the documents in public.
Journal of Demographic Economics, 2015
In his seminal, 1973 paper, published in the Journal of Political Economy, Gary Becker emphasizes... more In his seminal, 1973 paper, published in the Journal of Political Economy, Gary Becker emphasizes marriage as a crucial, yet understudied issue to which economic analysis could, therefore should, be applied. In his words: “Yet, one type of behavior has been almost completely ignored by economists, although scarce resources are used and it has been followed in some form by practically all adults in every recorded society. I refer to marriage.” (p. 814)
Handbook of Insurance, 2013
L'Actualité économique, 2005
Résumé Dans cet article, on étudie en quoi l’introduction d’une approche collective modifie les a... more Résumé Dans cet article, on étudie en quoi l’introduction d’une approche collective modifie les analyses de bien-être classiques en théorie du consommateur. Après avoir défini et caractérisé les principaux concepts, on décrit deux logiques possibles, celle de la « compensation potentielle » et celle de la « compensation effective ». On discute ensuite de leurs implications.
SSRN Electronic Journal, 2000
Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch ge... more Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may be saved and copied for your personal and scholarly purposes. You are not to copy documents for public or commercial purposes, to exhibit the documents publicly, to make them publicly available on the internet, or to distribute or otherwise use the documents in public. If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence.
Hedonic pricing with quasilinear preferences is shown to be equivalent to stable matching with tr... more Hedonic pricing with quasilinear preferences is shown to be equivalent to stable matching with transferable utilities and a participation constraint, and to an optimal transportation (Monge-Kantorovich) linear programming problem. Optimal assignments in the latter correspond to stable matchings, and to hedonic equilibria. These assignments are shown to exist in great generality; their marginal indirect payoffs with respect to agent type
Revue d'économie financière, 1992
Revue française d'économie, 1993
ABSTRACT
Revue française d'économie, 1991
En la matière, cependant, la prudence est de mise. Le mouvement général de déréglementation finan... more En la matière, cependant, la prudence est de mise. Le mouvement général de déréglementation financière, à son apogée dans les années quatre-vingt , paraît marquer le pas. La crise des Caisses d'Epargne américaines, avec un coût chiffré en centaines de milliards de dollars, restera l' ...
Revue d'économie financière, 1995
Revue d'économie financière, 1996
Revue économique, 1990
ABSTRACT
Revue économique, 1984
ABSTRACT