BEAUTY PREMIUM AND MARRIAGE PREMIUM IN SEARCH EQUILIBRIUM: THEORY AND EMPIRICAL TEST
提出一个基于搜索摩擦的理论来解释美貌溢价，认为外貌在吸引婚姻伴侣中起关键作用，通过分析劳动力与婚姻市场的互动，发现美貌溢价和婚姻溢价的存在，并用实证证据支持该理论。
Abstract We propose a theoretical explanation for the so‐called beauty premium. Our approach relies entirely on search frictions and the fact that physical appearance plays an important role in attracting a marriage partner. We analyze the interaction between frictional labor and marriage markets, making use of what we label constrained job search. The optimal strategy entails different reservation wages for different men, and we establish the existence of a search equilibrium characterized by a beauty premium and/or marriage premium. Predicted profiles of premia allow for potential falsification tests and point to relevant empirical evidence in support of our theory.