Start Adating org

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Shopping for a house and shopping for, that’s terrible terminology, but trying to find the right life partner are very similar in the one sense where each one is different.

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?

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?

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.

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.