Paul Oyer: What Online Dating Can Teach About Economics

Enter your mobile number or email address below and we’ll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer – no Kindle device required. To get the free app, enter your mobile phone number. Would you like to tell us about a lower price? If you are a seller for this product, would you like to suggest updates through seller support? Dating was now dominated by sites like Match. But Oyer had a secret weapon: economics. It turns out that dating sites are no different than the markets Oyer had spent a lifetime studying.

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Apps like Tinder are popular among young people, researchers say, but there are more complex reasons why older singletons have gone online. Boomers are more likely to be single, divorced or widowed, studies have shown. That makes them a prime target market for dating sites, and with good reason. The so-called gray divorce rate has risen sharply — from just one in 10 people over the age of 50 in , to around one in four in — according to research by sociologists Susan Brown and I-Fen Lin of Bowling Green State University.

The older you get, the more women there are in relation to men.

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According to Oyer, you can see everything from why executives “sugarcoat” their company’s situations to why qualified candidates remain jobless, reflected in the world of online dating. Below, Oyer shares some of the insight he gained through his own forays into the online dating world. Hey, it worked for him: Ultimately Oyer met his match online. Oyer: I’m a labor economist, so when I found myself back on the dating scene, it became clear to me that online dating is a marketplace.

On a dating site, lots of members mean lots of available potential matches. Assuming the algorithm of each site you visit is good at matching members, if you’re given 10 matches from a site with members and 10 from a site with 10,, bigger is better. You’ll see more options over time, and the matches will likely better suit you. This is what is called a “thick market” — one with a lot of options — and a thick market is usually more efficient.

In the book, I use the example of buying a pair of jeans: If you have an hour to shop, would you rather be in Manhattan or in a rural community? The city, of course, because there are more options and more chances you’ll find what you need.

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Particularly in the current situation, using the technology many of us have all around us is a great way to stay on top of your economics research and remain knowledgeable while inside, staying safe during the coronavirus COVID pandemic. Most of the apps listed below are also available on iPad, so you can download them on whichever device is more appropriate for you. This handy news app covers the latest developments in the field of business and the stock market.

More international than other economics news apps, this gives you a perspective on economic stories from around the globe. For both students and researchers, EconBiz is a handy app to have to find information about recently published economics papers. It gives you access to a vast range of books, journal articles, and papers in the field of economics. While it started off as a German-language app, now it covers a large amount of English language content too, making it useful for any economist who is trying to find a paper to reference.

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Your purchase helps support NPR programming. Paul Oyer, a professor at the Stanford Graduate School of Business, has been teaching economics for almost two decades. His experience with online dating started much more recently. But when he started looking for love online, Oyer discovered that the principles he teaches in the classroom were surprisingly applicable to this new marketplace.

It [illustrates them] in a nice context because I think a lot of people think about economics and they think about money. And I really like teaching economics through online dating because it’s a context where no money changes hands, and yet so many of the ideas we as economists study are playing out.

What Tinder can teach you about recruiting Given that online dating platforms were still in their infancy when this study began, those and the sheer economic cost of worker dissatisfaction is estimated at over half a trillion dollars every year.

Economics is a branch of social science focused on how money, goods, and services are produced, consumed, and distributed. The term ‘economics’ has been used since the 19th century, but this discipline has been studied since ancient times. Modern economics is rooted in finance, sociology, history, political science, mathematics, and statistics. The field is divided into two primary schools: microeconomics, or the way individuals and organizations handle wealth; and macroeconomics, which deals with national, regional, and global economic markets.

Additionally, economists today distinguish between positive economics, which reflects current realities, and normative economics, which focuses on ideal conditions. While economics is a popular field of undergraduate study in the U. The curriculum of a master’s in economics degree program is largely grounded in microeconomic and macroeconomic theory, as well as econometrics, or the statistical analysis tools and metrics used to measure and evaluate economic activities.

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What Online Dating Advice Can Teach You About Landing a Job author discusses the work of George Akerlof, who won a Nobel Prize in economics in

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When I set up my dating profile, I was upfront about my teenage children and my sweet but impish golden retriever. I admit it. I left out details — and lied. What led me to be honest on some parts of my profile and not others? We can find the answer in a branch of game theory known as cheap talk.

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After getting divorced Oyer wrote the book when he began dating again because it reminded him of the markets he worked with every day. When year-old Paul Oyer started online dating after 20 years off the market, he realized his work as an economics professor at Stanford University might be helpful. The theories he’d been teaching in the classroom applied directly to his forays into Match.

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. Skills matter – being good looking helps. His knowledge of IPOs could teach him about where to take his date for dinner answer: somewhere expensive. Online dating software has been built by statisticians, engineers, and nerds – and maybe nerds are the ones who need to start breaking it down.

A: Definitely. Some people say Twitter blew their IPO by underpricing the stock.

Paul Oyer: online dating an economics class

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Given that online dating platforms were still in their infancy when this study began, those numbers are astonishing and paint a pretty clear picture: online dating works. There is a different type of matchmaking industry that has not been as quick to embrace the advantages of online networks. Corporate recruiters and job seekers around the world have thus far failed to follow the lead of their online dating counterparts, and continue to rely on the same sort of recruiting methods that were used half a century ago.

In , heavy investments of time and money into on-campus recruiting made sense, but times have changed. Dating has kept up. Is it time for recruiting to do the same? There are more than a few similarities between recruiting and dating, and one of the biggest is the power of technology to make them both less stressful and more effective.

For centuries before the advent of computer networking, finding a person to spend your life with worked in more or less the same way: eligible bachelors and bachelorettes hoped that they would be able to discover a satisfactory partner through their personal network of friends or family or less often through a chance encounter at a social outing.

In either case, prior to the arrival of personal computing and online dating, people looking for love were forced to choose between the few eligible candidates within close physical proximity.

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Click here to sign up for Martin’s email alerts and opportunities. Meetmindful Pbs Meetmindful Good etiquette will result in all travelers being able to continue to stay in these places, SwingTowns offers an inviting space to track down your next casual encounter, HER is just a great place to make friends in your area if you are at capacity with straight friends. Weve selected a few different sites for different types of daters, and is not afraid to admit that she does feel the sadness of that, with more than 4 million users worldwide.

Also, your visit to earn revenue if this was opening its story. But then I changed, and the Oxford comma—not necessarily in that order.

A study of an online dating service found that 23 percent of women and 57 percent of men According to this narrative arc, economics can be interesting in the.

Levitt and journalist Stephen J. The book, which shows the power of some simple economic propositions, has caught fire, hanging around the top of the best-seller list for months. Written mostly by Dubner and inspired by Levitt’s research, Freakonomics has created a cottage industry for the authors, with speaking tours, websites, blogs, T-shirts, mugs and a regular column in the New York Times.

The authors claim the book supplies enough interesting material for a thousand cocktail parties. I don’t know about that, but because this may be the most successful general-audience economics book in years, it’s worth an extended look in this issue. The book has a swagger, an attitude, and a sense of humor. The authors try to make a virtue of necessity by emphasizing that because Levitt’s research has no grand theme, a book about his work has none either.

Still, some themes emerge. One is that economics strips away moral posturing to look at the world as it is. An “Introduction” previews some key findings and offers some “fundamental ideas:” Incentives are the cornerstone of modern life The conventional wisdom is often wrong Dramatic effects often have distant, even subtle, causes

Professor Paul Oyer: The Economics of Dating, Job Hunting, and More

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