Reference Entry

household decision-making

Edited by John Black, Nigar Hashimzade and Gareth Myles

in A Dictionary of Economics

Fourth edition

Published in print January 2012 | ISBN: 9780199696321
Published online May 2013 | e-ISBN: 9780191759130
household decision-making

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A model of collective decision-making on consumption and labour supply inside a household in which a sharing rule specifies how the collective budget is distributed among the household members. Household decision-making is cooperative if all members pursue the maximization of a common objective function. It is non-cooperative if the members pursue personal objectives and engage in ...

Reference Entry.  65 words. 

Subjects: Economics

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