Presentation on theme: "Lovenomics: the economics of dating Apply economics principles to the only world anyone in high school cares about. Sasanka Jinadasa, Jason Solis."— Presentation transcript:
Lovenomics: the economics of dating Apply economics principles to the only world anyone in high school cares about. Sasanka Jinadasa, Jason Solis
How to get a (Wo)man Im like a monopoly…big enough to supply the whole market. And like a monopoly, youre extremely inefficient.
No pickup line is surefire. Economics is the study of satisfying unlimited wants with limited resources. To satisfy these wants and maximize utility, cost-benefit analyses are required.
Benefits of finding love (and marriage) Emotional utility Sexual utility Material utility Social utility Reproductive utility
Costs of finding love (and marriage) Opportunity costs Time costs Financial Social costs
QARYs Quality-adjusted romance years If you can use a value based system to identify what you value in a relationship, it would be easier to understand what your relationship is worth Not death panels, but your significant other might kill you for thinking about using this system
The feminist dilemma On one hand, many feminists think that men paying for their meals is beyond barbaric. This is no longer the nineteenth century, and the knight in shining armor is long gone.
But on the other hand… According to this Times article, woman say that going Dutch is perfectly unreasonably because the patriarchal society forces her to make less money, yet spend more on dates.this
The problem with trophy wives Older, richer, men are usually assets with increasing returns Trophy wives depreciate in value over time However, since it is a perfectly competitive market…
Theres a market for everything The blog Marginal Revolution follows trends and what people spend their money on. On their special section Theres a Market for Everything we found…
A sleaze-locator which uses names and email addresses in a database to locate previous bad encounters People outsourcing to India and hiring low-wage workers that will use social networking to contact women in their stead, chat them up, arrange first dates, and only then are they forwarded to the actual person (ahem, man) who is in search A dating site exclusively for ugly people, called TheUglyBugBall.co.uk
Hello, ladies and gentlemen, were going to college. But mostly ladies. According to this New York Times article, there are more women in four-year universities than men.this However, this increases competition for women, having disastrous unforeseen consequences
The Logic of Life, by Tim Hartford. Lets play a game. Put twenty men and twenty women together in a supermarket. For each man and woman who pair up, the pair receives $100. Rational behavior assumes they will split it 50-50 in order to find a match. But…
Put nineteen men and twenty women in that supermarket. Suddenly, one man has a lot of power. The one woman who is left out is likely to sweeten the deal in order to receive part of that $100…even if she now has to split it 60-40. But then the woman who was set aside is going to sweeten her deal as well…
Either way, the man wins. Not that women go to college to meet men or get married. But for those looking for their MRS, the gender imbalance spells trouble.
Enough about men and women… Lets talk RAINBOWS! Homosexuality and economics isnt a highly explored topic, but lets give it a try.
Two sides to every argument Legalizing gay marriage could increase revenue through licensing fees, taxes, and wedding registries But there are also tax benefits that married couples receive that could cost the state millions
Also… Many say using the economy to make the fight for gay rights more accessible trivializes gay marriage Others compare it to the subprime- housing crisis: once we allow everyone to get married were going to see a bubble bursting…
That bubble is MORALITY.
However, the most important thing to remember about lovenomics… Is that we cant use it, because economics is based on the principle that people are rational. But they arent.