Economics of Marriage

There is a lot of talk of marriage. The excitement of potential unions in joyous ceremonial extravaganzas is always shadowed by social views on the "economics" of marriages. As in everything else these days, the values on several social-economic variables of marriage have reached inflated states.

Marriages have always been governed by factors assessed on suitability factors, sustainability factors - the "perfect" match, and a "lasting" match factors - and contractual factors.

Suitability factors are based entirely on personal preferences. So a hypothetical arbitrary value is placed on each preference: Height, weight, body type, education, age, cast, social status, etc. Everyone evaluates each factor differently, and values their worth discretely. A body type, for instance, is worth $100, weight worth $30, social status worth $300, education $1000. Conceptually, we evaluate our trade offs on a case by case basis against our initial valuations as such. These costs are conceptual.

The sustainability factors as considered a modus practicum; the reality-check, or the durability litmus test factors. This is where an attempt is made to answer the practical uncertainties of life by a series of generic standard simplistic questions. For instance, Potential new-household income, new-household buying power, new-household credit worthiness and perceived leverage risk. Despite being the most uncertain factor among all, it is the easiest one people find to put a price on! Putting a price on it, suddenly makes the gaping uncertainties transform into concrete certainties. Given the "long-term" nature of this factor, leaving it vaguely indeterminate would create the greatest unease. Age, body-type and social status had concrete manifestations, but sustainability factors don't because they require seeing into the future and wisdom. So putting a price here gives the greatest sense of comfort and quick visual outlook. Of course, there are other factors such as moral character, family values, personality types, religious values, shared social values, shared goals, etc that contribute to actual sustainability of marriage. However, it is extremely hard to put a price on these. They are acknowledged but since they offer least guidance, they are virtually overlooked. Household income is 50KCAD, for instance, moral character at $x CAD? A simplistic quantitative measure along with a complex qualitative measure in the same category makes the qualitative factors less measurable, and therefore less favorable as reliable foresight. Comparatively, they also become discomforting and confusing.

Finally, the contractual factors are costs emerging at the contracts in marriage: partner search costs, travel costs, paper filing costs, ceremony functions costs, mehr, gifts, etc. These are all direct, solid, market costs with measurable prices valued by non-parties. That is, prices are fixed by vendors of products and services used. Additional costs associated in a pre-nup addendum and even divorce proceedings. These costs are stable and can be planned against.

Everyone is aiming to make a profitable gain overall. The measurables are arbitrarily quantified, and the immeasurables are subdued as least significant. The qualitative uncertainties are deflated by virtue of compensatory over-pricing of quantifiables.