It makes sense that exit costs would help in a centipede game. What is a resource created in marriage that is disproportionately held by one party at a time and has value outside the marriage? My first thought was finances, but sharing finances doesn’t require exit costs.
I was mostly thinking of one partner investing in the other’s human capital, e.g. by paying for their education, or taking on housework so the other can focus on career. Though this discussion is changing my mind—I no longer think it’s such a strong argument.
It makes sense that exit costs would help in a centipede game. What is a resource created in marriage that is disproportionately held by one party at a time and has value outside the marriage? My first thought was finances, but sharing finances doesn’t require exit costs.
I was mostly thinking of one partner investing in the other’s human capital, e.g. by paying for their education, or taking on housework so the other can focus on career. Though this discussion is changing my mind—I no longer think it’s such a strong argument.