Economics of marriage

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The economics of marriage includes the economic analysis of household formation and break up, of production and distribution decisions within the household. It is closely related to the law and economics of marriages and households. Grossbard-Shechtman (1999a and 1999b) identifies three approaches to the subject: the Marxist approach (Friedrich Engels (1884) and Himmelweit and Mohun (1977)), the neo-classical approach (Gary Becker (1974)) and the game theoretic approaches (Marilyn Manser, Murray Brown, Marjorie McElroy and Mary Jane Horney).^[1][2] Marital status has a positive influence on economic status. There is a marriage prime for males that the wage of married males is 15% higher than the wage of never married male. The Uniform Marital Property Act issued clause on the distribution of marital property and individual property. The Uniform Premarital Agreements Act offers clauses to guide two spouses to make an agreement on distribution of rights and obligations before marriage.