ABSTRACT
This chapter offers a more formal version of Charlotte Phelps' marriage model. In 1972 Phelps made an important contribution to the economic analysis of marriage by publishing an article that applies traditional tools of economic analysis to the subject of marriage, couple formation, as well as intra-household production, allocation, and distribution. Phelps is compared to two other economic theories of marriage: Gary Becker and Grossbard-Shechtman. Becker's theory of marriage assumes that household production occurs but does not address the question of how households organize production. In contrast, Phelps and Grossbard-Shechtman view 'household production' as consisting of the voluntary productive activities of individual members of the household. Phelps was right to put the emphasis on negotiations by men and women interested in contributing to all that is produced by couples and families. This could lead to better health and cognitive outcomes without the need for intense government intervention that often discourages cooperation between co-parents and between parents and children.
