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- With the rapid urbanization and rising education levels in third world, there are significant differences between generations in terms of education, values, lifestyles, etc. The increasing emphasis on the concept of the family of origin reflects the generation gap caused by rapid economic growth.
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Family economics applies economic concepts such as production, division of labor, distribution, and decision making to the family. It is used to explain outcomes unique to family—such as marriage, the decision to have children, fertility, time devoted to domestic production, and dowry payments using economic analysis.
Aug 30, 2018 · This chapter introduces readers to the field of family economics. It defines “family” from an economics perspective and then details the economic functions of the family: human capital creation, social capital creation, household production of goods and services, economies of scale and public goods provisioning, consumption and savings ...
- Megan McDonald Way
- mway@babson.edu
- 2018
Evolutionary theory fills this gap by analyzing how preferences of family members emerge from the Darwinian exigencies of “survive and reproduce.”. Coin of the realm is so-called “inclusive fitness,” reproductive success of oneself plus that of relatives, weighted by closeness of the relationship.
Jan 1, 2018 · Family economics is the application of the analytical methods of microeconomics to family behaviour. It aims to improve our understanding of resource allocation and the distribution of welfare within the family, investment in children and inter-generational...
- John Ermisch
economics of the family The family is a complex decision unit in which partners with potentially different objectives make consumption, work, and fertility decisions.
This book provides a comprehensive, modern and self-contained account of the research in the growing area of family economics. The first half of the book develops several alternative models of family decision making. Particular attention is paid to the collective model and its testable implications.
Based on a developmental contextual perspective advocated by Vondracek, Lerner, and Schulenberg, this article provides a comprehensive review of the research published since 1980related to family of origin influences on career developmentandoccupational choice.
