Marriage as a signal
"This paper applies the economic theory of signalling to marriage. .... [and] argues that marriage helps individuals to signal to each other and to the outside world their desire for a sexually exclusive, permanent union. However, modern legal and social trends have greatly reduced the credibility of this signal...This development represents a major loss of information... The paper concludes with some observations on cohabitation and same-sex unions. for signalling reasons, the present legal distinction between marriage should be retained or even strengthened...[and] ... there could be a marriage-like [!] institution specifically for same-sex couples...."
This was for a paper by Bob Rowthorn at the recent European Association for Evolutionary Political Economy in Siena.
Personally I think this makes the paper Doug drew to our attention seem fairly sensible.
Julian Wells OU Business School The Open University Walton Hall Milton Keynes MK7 6AA United Kingdom +44 1908 654658