The Joint Determination of Household Membership and Market Work: The Case of Young Men
用纳什谈判模型分析年轻男性的家庭归属与市场工作如何被共同决定，发现家庭为子女提供保险，补偿其较差的市场机会。
Except in special cases, market work and household membership are jointly chosen. A Nash bargaining model of family behavior is used to specify stochastic structural relationships (two indirect utility functions and a market and a reservation wage function) that jointly determine work, consumption, and household membership. The maximum likelihood estimates of the implied trinomial probit model differ sharply from those obtained when either market work or household membership is taken as exogenous. This application to white male youths from the National Longitudinal Surveys shows the insurance function of families: parents insure their sons against poor market opportunities.