From the Emory Wheel:
Diamonds may be forever, but a bigger diamond doesn’t necessarily mean a longer marriage, according to study conducted by Andrew Francis and Hugo Mialon, both associate professors of Economics at Emory.
The results of their study indicated that spending more money on weddings and engagement rings negatively correlated with marriage duration, meaning that people who spend more on their weddings tended to have shorter marriages. The study, titled “‘A Diamond Is Forever’ and Other Fairy Tales: The Relationship Between Wedding Expenses and Marriage Duration,” was published in early September and has since been featured on CNN, the Atlanta Business Chronicle and 11 Alive.
In the study, they surveyed over 3,000 adults in the U.S. who either are married or have been married at some point in their lives.
The questionnaire gathered details such as marriage duration, length of time dating, honeymoon, engagement ring expenses, wedding attendance, total wedding expenses and age at marriage.
Francis and Mialon argue that the wedding industry is to blame for fueling the notion that spending large amounts on the engagement ring and the wedding leads to a successful, committed marriage. To read the rest of the Emory Wheel article, click HERE.
Guys: Investing between $2,000 and $4,000 on an engagement ring means you’re 1.3 times more likely to get divorced compared with the more frugal fellows who only allocate between $500 and $2,000.
For both sexes, spending more than $20,000 on the wedding ups the odds of divorce by 3.5 times compared with couples who keep it between $5,000 and $10,000.
While the study results are correlational rather than causal, it’s still an interesting topic to discuss.