Economics Of Household Non Market Behaviour : Analysis of Household Relations and Decisions

This book analyses the economics of household behaviour with respect to non-market activities and the household decision making processes. The household engages itself in many non-market activities, apart from the income earning market activities. These non-market activities involve many inter- and intra-household relationships among the family members and with the society. The household relations are seen as a deliberate strategy designed by the household itself either for survival or for smoothing income flows and consumption streams in the face of risks and threats to normal income generating resources. Many non-market activities of the household like having more number of children, marital relations, migration and remittances, education of children and innovating agricultural production are some of the diversification assets in the household income portfolio for spreading risks. This diversification strategy insures against the risks to income flows and consumption streams, minimises the vulnerability to covariate risks and prevents the complete collapse of the family.

Highlighting the significant contribution of education to economic growth and development, this book also discusses the issues in financing of education, the costs and pricing of education, the measurement of academic learning by students, choice and participation of women in education, educational infrastructure and the willingness to pay for education. It is observed that the mechanisms of subsidising education is a tricky issue, the finances for education are becoming inadequate and the households are willing to pay more for education as education confers substantial private and social returns to the investments.The book is intended to be a reference material for the study on the decision making and behaviour of the household with respect to non-market activities that are economically productive. (jacket)