A model of Intermarriage Involving Attribute Exchange

The increasing pace of globalization has significantly affected our lives in many profound ways. One of the consequences of globalization is the rise of intermarriage, i.e., the marriage between couples of different nationalities or different social, economic, religious, or racial backgrounds. Since our understanding of intermarriage is limited, this paper attempts to shed lights on intermarriage by developing a formal model based on attribute exchange. After examining the motivation and micro and macro consequences of intermarriages, our model shows that different value systems regarding marital attributes among different groups drive individuals with attributes valued lower in their group to seek intermarriage. As a result, the essence of intermarriages is the movement of attributes from groups in which such attributes are relatively abundant to groups where the same attributes are relatively scarce. Thus, intermarriage makes individuals with attributes valued lower in their original groups better off. At the inter‐societal (or inter‐group) level, the equilibrium of intermarriage is determined by the relative scarcity of marital attributes in different groups (societies). In the long run, intermarriages converge different groups in terms of their value systems regarding marriage