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Preference evolution in different matching markets

Author

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  • Wu, Jiabin
  • Zhang, Hanzhe
Abstract
We examine preference evolution under different matching market arrangements when preferences are influenced by parental preferences and own choices. Multiple stable equilibria arise under sufficiently random matching, but a unique equilibrium exists under sufficiently assortative matching. Mathematically, the dynamical system exhibits pitchfork bifurcation as the degree of sorting varies. Economically, using market-differential evolutionary trajectories after transitory and permanent shocks, we discuss the model’s implications on (i) the effects of marriage-market structure on female labor force participation such as in the United States and Europe after World Wars, (ii) the persistence of gender norms in developing countries with prevalent arranged marriages such as India, and (iii) the long-run impact of a short-run biased sex ratio on gender norms such as in Australia.

Suggested Citation

  • Wu, Jiabin & Zhang, Hanzhe, 2021. "Preference evolution in different matching markets," European Economic Review, Elsevier, vol. 137(C).
    • Handle: RePEc:eee:eecrev:v:137:y:2021:i:c:s0014292121001513
    DOI: 10.1016/j.euroecorev.2021.103804
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    Cited by:

    1. Hiller, Victor & Wu, Jiabin & Zhang, Hanzhe, 2023. "Marital preferences and stable matching in cultural evolution," Journal of Economic Theory, Elsevier, vol. 210(C).
    2. Zhang, Hanzhe & Zou, Ben, 2023. "A marriage-market perspective on risk-taking and career choices," European Economic Review, Elsevier, vol. 152(C).
    3. Keisuke Kawata & Mizuki Komura, 2023. "Only-child matching penalty in the marriage market," Papers 2307.15336, arXiv.org.
    4. Ennio Bilancini & Leonardo Boncinelli & Alessandro Tampieri, 2021. "Strategy Assortativity and the Evolution of Parochialism," DEM Discussion Paper Series 21-20, Department of Economics at the University of Luxembourg.
    5. Wu, Jiabin, 2023. "Institutions, assortative matching and cultural evolution," European Journal of Political Economy, Elsevier, vol. 78(C).

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    More about this item

    Keywords

    Preference evolution; Matching market; Pitchfork bifurcation;
    All these keywords.

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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