We formulate and estimate a dynamic model of marriage, divorce and remarriage using 27 years old panel data for the enrire Danish cohort born in 1960. The marital surplus is identified from the probability of divorce, and the surplus shares of husband and wives from their willingness to enter marriage. Eduaction and marraige order are complements in generating gains from marriage. Educated men and women receive a larger share of the marital gains but this effect is mitigated when their proportion rises. Education stabilizes marriage and second marriage are less stable. As the cohort ages, uneducated men are the most likely to be single.