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Narratives and the Economics of the Family (with Luis Rayo)
We argue that families adopt stories and that different stories give rise to different patterns of behavior. We build a theoretical model, focusing on two common, competing stories, which we term the “protector narrative” and “fulfillment narrative.” Our model makes predictions regarding the bundle of behaviors associated with each of these narratives; it also makes predictions regarding the narratives families will choose to adopt. We show that the protector narrative gives rise to a type of “traditional” family with distinct gender roles: men are breadwinners, are authoritarian towards women and children, and are expected to be “tough”; women avoid work when feasible, and are not expected to be “tough.” Because of role differentiation, it is important to be part of a family. The fulfillment narrative gives rise to a type of “modern” family in which gender roles are less distinct, both men and women work, and marriages are based, to a greater extent, on romantic love.
Please sign up for meetings here: docs.google.com/spreadsheets/d/1UnW-JOf7vD54h9QKWYWXQS1Wc-H4oP7nbywDdeJvr4o/edit#gid=0
Date:
29 November 2019, 14:15
Venue:
Manor Road Building, Manor Road OX1 3UQ
Venue Details:
Seminar Room A
Speaker:
Robby Akerlof (University of Warwick)
Organising department:
Department of Economics
Part of:
Nuffield Economic Theory Seminar
Booking required?:
Not required
Audience:
Members of the University only
Editor:
Melis Clark
