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Department of Economics, UCSC
University of California, Santa Cruz
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The Organization Of Family Interactions: Minimizing Transaction Costs And Strategic Behavior
Donald Wittman, UCSC

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ABSTRACT:

The optimal organization of the family requires that relations are structured so that non-cooperative game playing is minimized and transaction costs are reduced. I show that therapeutic advice for behavior within the family is to create a functioning property rights system. Punishment is shown to be inferior to setting limits because the first encourages strategic game playing. I show why there is conflict between parent and their child even when the parent maximizes the child’s expected discounted utility. In addition, I provide a model of the intergenerational transfer of behavior.

SUGGESTED CITATION:
Donald Wittman, "The Organization Of Family Interactions: Minimizing Transaction Costs And Strategic Behavior" (February 1, 2005). Department of Economics, UCSC. Paper 588.
http://repositories.cdlib.org/ucscecon/588

 
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