Thu. Jul 2nd, 2020


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A Married Couple’s Economic Reciprocal Relationship: Application of Game Theory

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An economic theoretical model was developed and a static game of complete information was applied in an examination of a married couple’s economic reciprocal relationship. Each player (husband and wife) chose their best strategies (i.e., optimal responses) to maximize payoffs (i.e., happiness). The theoretical analysis suggests that the couple’s happiness is endogenously and positively correlated and simultaneously determined. If the wife (or the husband) is not happy with the relationship, it is impossible for the husband (or the wife) to be happy with the relationship. Moreover, I conducted a survey of 54 married couples in Lake County, Indiana to collect information related to married couples’ economic behaviors. The survey results suggest that a good communication skill between a married couple indeed is a primarily important factor in determining a successful marriage.

Author(s) Details

Dr. Tin-Chun Lin
School of Business and Economics, Indiana University Northwest, Gary, IN 46408, USA

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