Konrad, Kai A.; Lommerud, Kjell Erik
The Bargaining Family Revisited.
In: Canadian Journal of Economics, Vol. 33, Nr. 2: S. 471-487
Volltext auf 'Open Access LMU' nicht verfügbar.
We suggest a family bargaining model where human capital investment decisions are made non-cooperatively in a first stage, while day-to-day allocation of time is determined later through Nash bargaining, but with non-cooperative behaviour as the fall-back. One finding is that overinvestment in education may be even more of a problem in such a semi-cooperative model than in a fully non-cooperative one. Even though both the semi-cooperative model and the fully non-cooperative model predict overinvestment in education, policy conclusions that follow from the two models are distinctly different.