Basic Economic Model of Fertility.
Interaction between quantity and quality of children
U=f(N,Q,C)
Budget Constraint: Income = πNQ +Pc*C
N = Number of children, Q = Quality of children, C = Number of consumption goods.
πN = Cost of Quality of Children
πQ = Cost of Quantity of Children
So higher fertility is likely to affect the average quality of the children in the society.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment