AI summary · arXiv: 2108.04885v2 · econ.TH
Benefits of marriage as a search strategy
The essentials
- The paper proposes a model for mate searching and marriage in large societies
- The model is based on a stochastic matching process and simple decision rules
- Agents have preferences among themselves given by a probability distribution
- Agents randomly search for better mates, forming new couples and breaking apart in the process
- Marriage is implemented in the model by adding the decision of stopping searching for a better mate when the affinity between a couple is higher than a certain fixed amount
- The study shows that average utility in the system with marriage can be higher than without it
- Advice from the authors: don't marry the first person you like, but get married if you like your partner more than a certain threshold above average
- Average utility attained in their stochastic model is smaller than with stable matching achieved using the Gale-Shapley algorithm
- Having a central planner or an app to coordinate the marriage market and set a stable matching could be beneficial
- Model's evolution of fraction of married couples compared with real-world data shows good agreement
- An analytical expression is formulated to understand how mate searching and marriage dynamics unfold on larger scales
- Research contributes to understanding mate searching and marriage dynamics in large societies through modeling and analysis
- Highlights potential benefits of marriage as well as limitations compared to stable matching algorithms.
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