This comprehensive and authoritative book offers a global approach to the modern
economics of the family, family law and family policy. Beginning with the division
of labour in the family, this book deals with the economics of marriage, the demand
for children, inter-generational relationships, and the economics of inheritance.
The family is analysed using the theory of utility maximisation assuming that
individuals wish to achieve the greatest possible satisfaction with limited
resources and imperfect knowledge. The family is examined from both long and short
term perspectives, and it is assumed that the family is cooperative with incentives
for altruistic behaviour greater than in any other social group.