A Stochastic Dynamic Programming Approach to Decision Making in Arranged Marriages

Applied Mathematics Letters, Vol. 24, pp. 2197-2200, 2011

Posted: 17 Aug 2011

See all articles by Amitrajeet A. Batabyal

Amitrajeet A. Batabyal

Rochester Institute of Technology (RIT) - Department of Economics

Hamid Beladi

University of Texas at San Antonio - College of Business - Department of Economics

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Date Written: August 16, 2011

Abstract

We employ a stochastic dynamic programming approach to study decision making by an individual wishing to have an arranged marriage. First, we show that this individual never opts out of a voluntarily agreed upon marriage. Second, we demonstrate that our marrying individual uses a reservation utility to determine which marriage proposal to accept. Third, we compute the expected length of time during which our marrying individual stays single. Finally, we focus on an arranged marriage market in which there are many identical marrying individuals and profit maximizing matchmaking firms. We show that profit maximization implies that all matchmaking firms offer marriage proposals whose utility equals the reservation utility of our marrying individuals.

Keywords: Arranged Marriage, Decision Making, Matchmaking Firm, Reservation Utility

JEL Classification: J12, D81

Suggested Citation

Batabyal, Amitrajeet A. and Beladi, Hamid, A Stochastic Dynamic Programming Approach to Decision Making in Arranged Marriages (August 16, 2011). Applied Mathematics Letters, Vol. 24, pp. 2197-2200, 2011, Available at SSRN: https://ssrn.com/abstract=1910751

Amitrajeet A. Batabyal (Contact Author)

Rochester Institute of Technology (RIT) - Department of Economics ( email )

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Rochester, NY 14623-5604
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Hamid Beladi

University of Texas at San Antonio - College of Business - Department of Economics ( email )

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San Antonio, TX 78249
United States
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