Abstract
The fertility decline is everywhere in the world today and goes back decades for rich countries. Birthrates have been below replacement in the U.S. and Europe since the mid-1970s. Completed cohort fertility in the U.S. was lower for those born in 1955 than for 1975. The reasons for the initial declines involve greater female autonomy and a mismatch between the desires of men and women. Men generally benefit more from maintaining traditions; women often benefit more from eschewing them. When the probability is low that men will abandon traditions, some career women will not have children and others will delay.