Online dating theory
PAUL OYER: There’s a big problem in the online dating world which is it’s very easy to say something, I’m interested in you or I have this certain characteristic, it’s showing it that’s more difficult.And so one thing that I found particularly interesting is when an online dating site in Korea stepped in and said, OK, how can we make this market work a little better? Download this podcast SARAH GREEN: Welcome to the HBR Idea Cast. I’m talking today with Paul Oyer, Professor of Economics at Stanford’s Graduate School of Business. SARAH GREEN: So Paul, I’d like to just kick off by talking a little bit about the economic concept of search costs.He’s the author of the book, Everything I Ever Needed to Know About Economics I Learned from Online Dating. Can you just maybe describe what the concept is and how you’ve applied it to this idea of looking for a life partner?It could be something as simple as a run away script or learning how to better use E-utilities, for more efficient work such that your work does not impact the ability of other researchers to also use our site.To restore access and understand how to better interact with our site to avoid this in the future, please have your system administrator contact [email protected]
So if we just go into some market where everything is commodity, I don’t know, stocks, or bonds, or something like that, we don’t need to do much searching.
But when you do shop for a house, you just need to find the one you really want and be willing to pay enough for it.
Whereas, when you pick a life partner it’s much more akin to the job search. And as a result, what ends up happening is both employers and people looking for jobs as well as people looking for significant others are always wondering could I do a little bit better? So I might date somebody a few times and I think, well, you know I can probably find a match that would be a little bit more appropriate.
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