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A stochastic dynamic programming approach to decision making in arranged marriages

✍ Scribed by Amitrajeet A. Batabyal; Hamid Beladi

Publisher: Elsevier Science
Year: 2011
Tongue: English
Weight: 203 KB
Volume: 24
Category: Article
ISSN: 0893-9659
DOI: 10.1016/j.aml.2011.06.025

No coin nor oath required. For personal study only.

✦ Synopsis

We employ a stochastic dynamic programming approach to study decision making by an individual wishing to have an arranged marriage. First, we show that this individual never opts out of a voluntarily agreed upon marriage. Second, we demonstrate that our marrying individual uses a reservation utility to determine which marriage proposal to accept. Third, we compute the expected length of time during which our marrying individual stays single. Finally, we focus on an arranged marriage market in which there are many identical marrying individuals and profit maximizing matchmaking firms. We show that profit maximization implies that all matchmaking firms offer marriage proposals whose utility equals the reservation utility of our marrying individuals.

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