Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/89646
Authors: 
Cigno, Alessandro
Year of Publication: 
2013
Series/Report no.: 
CESifo Working Paper 4555
Abstract: 
Neither marriage nor a legally enforceable contract serves any useful purpose if the parties have access to a perfect credit market. In the presence of credit rationing, efficiency and utility equalization are guaranteed only by a legally enforceable contract. Separate-property marriage may reduce and community-property marriage actually eliminate inefficiency, but neither of them guarantees utility equalization.
Subjects: 
contracts
hold-up problem
separate-property marriage
community-property marriage
divorce legislation
JEL: 
C78
J12
K36
Document Type: 
Working Paper

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