Old Money, the Nouveaux Riches and Brunhilde's Marriage Strategy

Abstract

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Conspicuous consumption and hospitality at a wine festival in China

“…For example, if hospitality is a function of CC, the practice of buying wine may merely replicate the west, by providing status for the buyer. As we were based in China, we had some understanding as to how 'conspicuous gifting' and hospitality has resonance in China (Bronsert et al 2017). In addition to more recent Western values of materialism, traditional values such as guanxi (relationships), mianzi (face), renqing (human sentiments) (Yao, 1988) may serve as justification for CC epitomized in hospitality.…”

Till taxes do us part: Tax penalties or bonuses and the marriage decision

“…With cohabitation instead the relationship can be broken without any cost. 10 For simplicity we assume that the proposal in itself is not costly. However, our formal model would not change if proposing would involve a cost, say a diamond ring.…”

“…This creates some incentives to lie. Specifically, when the matching quality is low Sam has an incentive to try to persuade Robin that the matching is 10 The perception of the barriers to breaking up when married is widespread (see Seltzer, 2000). "Cohabitation has emerged as a way for two people to live together without marriage and to avoid the potentially higher costs of divorce if the union does not last" (Perelli-Harris et al 2017, page 303).…”

“…a crucial but unobservable characteristic evaluated by potential partners (see De Fraja 2009, Bronsert et al 2016, and references within). Our signaling model has a different focus.…”