Microeconomic Theories of Fertility: A Critique

Boone A. Turchi

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Family Dynamics and Relationships Gender, Labor, and Family Dynamics Demographic Trends and Gender Preferences

Abstract

This paper seeks to assess the current state of knowledge in the emerging field of the microeconomic analysis of fertility behavior. Concentrating on theories relevant to the United States and other industrial nations, this survey considers both the advantages and disadvantages of the consumer theory approach to fertility and discusses a number of specific issues including: the usefulness of the concept of “child quality” in fertility research, the impact of income on family size, the time frame of the fertility decision, husband-wife interaction in the decision process, and the analysis of fertility regulating behavior. In addition, the paper concludes with a discussion of empirical issues raised by the new microeconomic studies of fertility.

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References

1965A Theory of the Allocation of Time 1976A New Approach to Consumer Theory 1948Foundations of Economic Analysis.n.d.Economics of the Family: Marriage, Children, and Human Capital n.d.Economics of the Family: Marriage, Children, and Human Capital 1973A New Approach to the Economic Theory of Fertility Behavior 1971Capital and growth 1975The Relevance of the Household Production Function and Its Implications for the Allocation of Time

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