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Behavioral economics dating
But I pay the cost on that, which is in the short term I have to keep looking for somebody and I’m lonely.And in the job market, there’s something very a kin to that which is if I keep looking for just the right job and the employer keeps looking for just the right person, they end up having openings that are unfilled and I end up being unemployed.And so when we think about a place where investing and getting what you really want is particularly valuable, it seems like the market for a life partner is hard to beat.
PAUL OYER: Well, in everyday life, we’re always going around making decisions and some of those decisions are very costly.
So when I go to the grocery store, if I spend a lot of time scanning the shelves, I could be doing other things.
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?
How can we make it so that when somebody says I’m interested in you, they really mean it.
And the way they did that is they use the what an economist would call the idea of signaling.
You’re looking for someone who will in turn choose you.
And this is something that when pundits start talking about settling and how more people should just settle, I always want to scream, because I think, but, you’re not just settling for someone. That’s why I was very glad to see you make that distinction.
Now it has its downfalls that we’ll probably get to, but at least it’s a sort of quick way to get a feel for people that might be of interest to you.
So you have to spend the time going through profiles on websites and things like that and that can be very costly.