This paper examines the role of marriage and migration in rural India, focusing on how these patterns help households smooth consumption in the face of income risk. The authors argue that marriage and migration are not primarily driven by income gains or search costs, but rather by implicit contractual arrangements between households aimed at reducing income risk and smoothing consumption. Using longitudinal data from South Indian villages, they find that marriage and migration significantly reduce the variability of household food consumption. Households with more variable profits are more likely to engage in longer-distance marriage and migration. The study also shows that the distance between households and their marital partners is influenced by the riskiness of income and the ability of households to self-insure through wealth holdings. The findings suggest that marriage and migration are important mechanisms for risk diversification and consumption smoothing in rural India, and that these patterns are not well explained by conventional models of marriage or migration that focus on income gains and search costs. The study highlights the importance of spatial risk diversification and the role of kinship in facilitating risk-sharing arrangements between households. The results also indicate that the presence of non-resident in-laws and other kinship ties can provide important income support to households facing income shortfalls. Overall, the paper provides new insights into the economic and social factors that shape marriage and migration patterns in rural India.This paper examines the role of marriage and migration in rural India, focusing on how these patterns help households smooth consumption in the face of income risk. The authors argue that marriage and migration are not primarily driven by income gains or search costs, but rather by implicit contractual arrangements between households aimed at reducing income risk and smoothing consumption. Using longitudinal data from South Indian villages, they find that marriage and migration significantly reduce the variability of household food consumption. Households with more variable profits are more likely to engage in longer-distance marriage and migration. The study also shows that the distance between households and their marital partners is influenced by the riskiness of income and the ability of households to self-insure through wealth holdings. The findings suggest that marriage and migration are important mechanisms for risk diversification and consumption smoothing in rural India, and that these patterns are not well explained by conventional models of marriage or migration that focus on income gains and search costs. The study highlights the importance of spatial risk diversification and the role of kinship in facilitating risk-sharing arrangements between households. The results also indicate that the presence of non-resident in-laws and other kinship ties can provide important income support to households facing income shortfalls. Overall, the paper provides new insights into the economic and social factors that shape marriage and migration patterns in rural India.