The Neolithic Revolution from a price-theoretic perspective

The adoption of agriculture, some 10,000 years ago, triggered the first demographic explosion in human history. When fertility fell back to its original level, early farmers found themselves worse fed than the previous hunter-gatherers, and worked longer hours to make ends meet. I develop a dynamic, price-theoretic model with endogenous fertility that rationalises these events. The results are driven by the reduction in the cost of children that followed the adoption of agriculture.