Not much time has passed since the application of economic theory in explaining the behaviors related to the family. The result of this theoretical development has been the emergence of a new branch of family economics. The subject of family economic ...
Not much time has passed since the application of economic theory in explaining the behaviors related to the family. The result of this theoretical development has been the emergence of a new branch of family economics. The subject of family economics is mainly focused on the different stages of the household life cycle, based on which decision-making on the formation, completion, and dissolution of the family is analyzed from an economic perspective. The existing theoretical approaches in family economics are briefly introduced and the most important empirical studies conducted are reviewed.
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