Stanford economist online dating
I might send my money to a soup kitchen and another guy might send his to the NRA. A: I teach MBA students typically, but I haven't asked them to read it because it might be weird to discuss my dating life.They're all probably on to some cooler dating site, anyway.
Thick markets are more powerful than thin ones - use a big dating site.Rational people sometimes choose to lie - don't list all the viral videos you like. His knowledge of IPOs could teach him about where to take his date for dinner (answer: somewhere expensive)."After my first date, the thing that triggered in my mind is that this is all about markets," he said.A: Facebook is a product with what we call network externality - demand is driven by demand. It's different from grocery shopping - you go grocery shopping and the groceries don't have to love you back. And this is my little theory, but you could say, "With this message, I'm showing that I want to meet you and am donating X dollars to some cause to prove it." That would show that I'm willing to spend money.Q: What should online dating sites learn from economics? There's a lot of lying on dating sites and there are simple ways to verify it - there are Chinese dating sites that ask you to send in your tax returns and a photocopy of your license so people can't lie about their age or income. You want to allow a mechanism that says, 'I'm interested in you and I mean it.' I can write anyone a little message that says, "Hey, I think you're hot." Why don't we ask people to put their money where their mouth is? And the charity I choose might signal something very strong. Paul Oyer, Professor of Economics, at Stanford’s Graduate School of Business. Oyer and Linda discuss the common thread between dating, economics, and admissions. – – The limits of economics in explaining online dating.
(Yup, economists take the fun out of everything.) – Signaling: Why education is a waste, but still serves a purpose. And what the college/grad school admissions process has to do with signaling.
Q: Are there any points where online dating as economics class might not work?
As any single person who has ever attended a cocktail party or family function can attest, it generally doesnt take more than five minutes after exchanging niceties with someone in a relationship to hear the following words: So are you seeing anyone?
As for daily routines of both singles and couples alike, activities such as food selection and going on a promising date, in economic terms bolster ones utility which is just an economists way to keep score of how happy someone is, says Oyer.
So I spend time on Ok Cupid in the hope that I will meet someone who will someday increase my utility. In his case, Oyer got returns on his investment.
– The parallels between economics and dating – Wonderful, but not surprising.