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Property Rights and Transaction Costs in Marriage: Evidence from Prenuptial Contracts

Published online by Cambridge University Press:  03 March 2009

Gillian Hamilton
Gillian Hamilton
Affiliation:
Gillian Hamilton is Assistant Professor, Department of Economics, University of Toronto, 150 St. George St., Toronto, Ontario, Canada, M5S 3G7.
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Abstract

I examine prenuptial contracting behavior in early-nineteenth-centuiy Quebec to explore property rights within families and the efficacy of marital property laws. Drawing on a transaction cost framework, I examine the decision to sign a contract and couples' property rights choices. I find, for example, that couples signing contracts tended to choose joint ownership of property when wives were particularly important to the household. These findings illustrate the potential effects of legal institutions on individuals' behavior (such as the importance of family labor, human capital acquisition, and even mating decisions) and the value of a flexible legal environment.

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Articles
Information
The Journal of Economic History , Volume 59 , Issue 1 , March 1999 , pp. 68 - 103
Copyright
Copyright © The Economic History Association 1999

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