On pitfalls in the construction of family-based models of population growth: a note.

Recently, several attempts have been made to construct an economic theory of population based on a formal theory of the family of the type developed by Becker in 1981, but there are serious limitations in all such efforts. The typical family's problem may have no solution, even with a well-behaved concave utility function. Moreover, even when the family's… CONTINUE READING