Consider an economy populated by males and females, both rich and poor. The society has to choose one of the following marriage institutions: polygyny, strict monogamy, and serial monogamy (divorce and remarriage). After having identified the conditions under which each of these equilibria...

The usual 'efficient' bargaining solution between a monopolistic firm and a union has always been derived under the constraint that the firm produces on its production frontier. The authors show that, if the union is risk-averse and powerful enough, this constrained efficient bargaining solution...