Conquering the dating market—from an economist’s point of view
After more than twenty years, economist Paul Oyer found himself back on the dating scene—but what a difference a few years made. Dating was now dominated by sites like Match.com, eHarmony, and OkCupid. But Oyer had a secret economics.
It turns out that dating sites are no different than the markets Oyer had spent a lifetime studying. Monster.com, eBay, and other sites where individuals come together to find a match gave Oyer startling insight into the modern dating scene. The arcane language of economics—search, signaling, adverse selection, cheap talk, statistical discrimination, thick markets, and network externalities—provides a useful guide to finding a mate. Using the ideas that are central to how markets and economics and dating work, Oyer shows how you can apply these ideas to take advantage of the economics in everyday life, all around you, all the time.
For all online daters—and for anyone else swimming in the vast sea of the information economy—this book uses Oyer’s own experiences, and those of millions of others, to help you navigate the key economic concepts that drive the modern age.
I shouldn’t have ignored the negative tilt to the reviews of this awkwardly-titled book, but the concept was interesting and so I read it anyway. It’s a quick read, with only 215 pages of text followed by endnotes and an index, and the writing is fairly engaging. But it is also shallow. It does explain some concepts from microeconomics, using examples from online dating as a starting point before seguing into other examples. But even without knowing much about economics, I didn’t feel like I learned very much from it, aside from becoming more familiar with some econ vocabulary. And there’s not a lot of substance on the online dating portion either.
Meanwhile, the author seems to have this relentless desire to put a positive spin on everything, as if he feels that economics sometimes leading to bad results would make the field of study somehow less worthwhile. For instance, he takes pains to insist that statistical discrimination isn’t based on animus, as if this somehow makes racial profiling or gender pay gaps more acceptable. It’s weirdest when he’s discussing the effect of physical attractiveness on wages: he blithely insists that being overweight doesn’t really have an impact once you “control for attractiveness,” as if weight somehow weren’t a factor in attractiveness. And then after noting that more attractive people get more promotions regardless of talent, he considers the argument that this is actually discrimination against unattractive people, only to dismiss it on the grounds that attractive people are in some unspecified way “worth more,” as if to say, “well, that’s all okay then.”
On the other hand, I did find the book quick and engaging reading, and many of its examples are relatively interesting. It’s probably not worth going out of your way to pick this up, but if you want some nonfiction beach reading, it could fit the bill.
It seems like everyone is a little disappointed with this book: if they wanted dating advice, it had too much economics; if they wanted economics, it had too much goofy discussion of online dating. I read it impulsively and quickly, with no particular expectations, so I found it diverting enough. Each chapter brings up a concept from economics (like signaling) and then gives examples of it in online dating and other contexts, like job hunting, buying a car, etc. The concepts don't seem very advanced and the whole thing is basically a gimmick, but I thought the author was droll and not overestimating his own funniness, so it worked.
Is there a genre known as pop economics? (I'd throw Freakonomics into this genre too.) Or is that a creation that would make economists cringe? If such a genre exists, Paul Oyer's book would fit nicely. Oyer uses online dating as a framework to explain basic economic principles in an accessible and sometimes fun way.
Genius is not reflected solely in whether a person has a unique idea, in my opinion. Genius is taking a complex concept and relating it to an audience in such a way that they would understand it and remember it. That is the appeal of this book. It is also refreshing that Paul Oyer unabashedly uses his own experiences of online dating to teach us the basics of economics. The book does not just use online dating as a model, though. Oyer also provides examples with eBay, financial Web sites, and mostly anything internet related to make his point. His side comments make this a fun read. While I did notice a few editorial mistakes in the book, this did not detract from the enjoyment of reading it. Now I know that my issue with online dating is that I think it does not maximize my utility, and that being single has placed my in a socioeconomic bubble due to positive assortative mating. Awesome.
Decent book. Lots of concepts I kinda knew but in a different light. I actually liked the fact that though the starting point was dating the author went into abilities analogues other than dating for the concept he was discussing.
All in all, it feels like an economics professor watching all his peers publish books, and because of FOMO he thinks, "how can I repackage the same 7-8 economics concepts such that people would want to read it?" then thinking about his dating life and deciding to merge the two.
As I am an over-educated person with a graduate degree, I knew most of this already, but Oyer's presentation is breezy, amusing, and clear, and his analogies are funny. As an over-educated person with a graduate degree, I especially enjoyed reading about how much a better education can add to one's dating possibilities, quality of eventual life partner, and lifetime supply of happiness as well as one's job prospects and total income.
Fun applied economics book, goes over basic-intermediate micro principles. Wouldn't recommend if you want a deep dive or to learn something new about markets, but Oyer's humor and humility towards his personal online dating journey is really great!
This econ-major has been happily married for over a decade, but I couldn't pass up the opportunity to read a book aimed at popularizing economics. (Do not mention Malcolm Gladwell to me. He is to economics what Kim Kardasian is to culture.)
I was happy to see it had a recommendation from Lori Gottlieb. I liked her book - The Case for Settling for Mr. Good Enough. Logical thinking is rare and enjoyable to find in these circles.
The book opens with a claim that most people use online dating. Is that true? I know it is more popular these days, but most people? Most normal people?
Part of me wondered if this was a big advertisement to date the author. I did like his personality. I respected the fact that he didn't trash talk his ex-wife. In the end, it seems he found a girlfriend - or "life partner" in his liberal terminology.
I liked that the author did a good job of familiarizing the reader with economic principles. It made me want to have discussions with people around economic principles and their application in every-day life.
I did not like that this author was stuck in uber-liberal thinking and made assumptions and statements based on their playbook without bothering to acknowledge or justify them. I was really sad to see this in someone so educated and with a background in economics! I skipped sections on homosexuals scattered throughout the book. I also recommend skipping the entire chapters on "Statistical Discrimination" and "The Family" as it will be offensive anyone who is not uber-liberal.
For example, from "Statistical Discrimination": "Racial profiling" is especially statistical discrimination. The highway patrol is accused of pulling over more minority drivers, and Arab airline passangers often get extra attention when going though airport security.Some of this scrutiny is likely the result of taste-based discrimination, in that the police may be hostile to minorities and use their power to harass drivers from these groups. But..."
I wish I could have a conversation with the author and ask him to justify these types of opinions inserted in the text. The cool thing about economics is that it provides language and context for otherwise difficult discussions. It somehow makes things okay to talk about and challenge. A thing either can be proved or not based on observations and the application of economics principals. A little more economic principles and a little less biased opinions would have made this an excellent book.
I heard about this book in a Slate article and it seems to have been written for the Slate audience. It assumes an uber-liberal audience and was a bit gritty/low-brow/Jerry Springer for my taste. Quirky and interesting, but without respect for conservative values or standards.
Read up north over a few days. Fairly quick, easy read.
The back cover says the author is a Professor of Economics at Stanford University and lives in "Stanford, CA". Stanford University is located in the town of Palo Alto. We were just there on vacation this spring. Was that a typo? Is there actually a "Stanford, CA"?
I'm use to economists being fairly conservative because the discipline requires a close adherence to reality. It was eye-opening to see this highly educated man's bias. I'm never letting my daughter attend Stanford (or sadly probably any of the ivy leagues), if even the economists are liberal!
First time I picked up this book, I went in not at all expecting to like it. Economics. Come on!! And, to no one's surprise, it was meh. Barely touched upon economics concepts, and kinda tries to fit online dating experiences into these models and concepts to draw conclusions. The conclusions do make sense, even if they seem presumptuous. But, at the end of the day, how much did I learn about economics? How much did I learn abou online dating? Not all that much in either case, I'm afraid. I dropped it a chapter in, and returned to slog through and finish it a few months later, and though it did pick up in explaining concepts in a more engaging manner, the original problem of it being too light on both subjects still stood. So, a decent book, good to kill time and pick up some basic, layman's version of pop-economics. Much more interesting and readable than that Freakonomics shit, though. Ugh. Gotta go finish that now. Kill me. Wait, no, go kill Jitesh bhai.
Even though the author is an academic (at an Ivy League university no less), this book is full of platitudes, generalizations, and ridiculous metaphors (want to date online? make sure you have an exit strategy....much like armies and investors do).
weird weird book much better that dumpster fire of the Freakonomics books but if you want a barely decent book with huge Jerry Springer vibes, this is more for you.
I think I would find a book by an actual relationship expert way more interesting, and 'possibly' useful, but some of the views and advice are pretty questionable.
If you want someone who tries way too hard to intersect the min-max view of economics and optimization with stalking a significant other, and does both subjects a disservice, you'll still find this interesting (somewhat) and an interesting journey into lameness.
Honestly, the title alone is a red warning sticker you're getting schlock.
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the wild Amazon
Like a long, never ending bad date 4/10
First chapter is very interesting - hooked me in. Was really looking forward to dig into this book - but the more I read, the less I enjoyed it.
There are so many fascinating insights you could make around dating and economics - so why is the author mainly focusing around the two most well known facts in the history of dating?
Women look for wealth and men look for beauty. Stereotypes!
So much time is spent dwelling on this that you just wish someone would give you a fake call so you could ditch the book and do a runner.
The author's fascination with the idea of signalling is terrible - having one or two special emails to send only those you really really want to meet, that be for a date or for a job interview does not seem very thought through.
Consider a job applicant who sends 10-20 applications a month to find a new job - and now gets the option to mark 2 of these with a signal so the employer knows they really want to work there.
If the applicant isn't right, the signal doesn't matter - the employer isn't going to award anyone an interview just because there's a signal adding weight to the intent.
Now there will be 18 companies out there with jobs that could have be ideal for this candidate - if it wasn't for the fact that they are now armed with the knowledge that they aren't his first priority.
The self deprecating humor fast becomes (REALLY) annoying and you wonder if the editor was on vacation before letting this book off to the press - it could have been very well written if cut down in half.
Only good thing about the book is that the author in the end reveals that he did indeed find love - although not by following the advice given in his book.... Surprise!
elinesca
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Pecking order economics for upper middle class liberal divorcees 6/10
I enjoyed the comparisons between dating sites and economic concepts like "thick markets" and could be useful if you looking for dates this way.
Probably not broadly useful given his viewpoint of the world, as he touches on motivations of groups (he's prejudging by identity politics viewpoints - makes sense given macro thinking that economists employ) which is always wrong (prejudging is unreliable for identity politics, and virtually useless when looking at an individual), sometimes offensively (he appears to have the downed a few glasses of "women are wonderful" Kool-aid)
This book was funny and informative at the same time. It tackled topics that could seem unapproachable at first with relative ease and understanding. It talked about topics like hidden information and a best fit partnership. This book is great for anyone who is looking into learning more about economics. One thing it does well is help explain topics by giving several examples and showing how each part makes it a good example of said topic. It uses online dating a lot (I know surprising) as examples for the concepts. It's really funny because I can relate to this book because of the way my brother acts. He is the equivalent of online dating services in this book. He fit every concept perfectly and is a great example of some of these concepts like signaling and how his use of sarcasm is rare yet powerful. I just find it funny that everything in our lives can be an example of some bigger principle like my brother in microeconomics. It was a relatively good read with nothing really bad about it. The problem is that it may not do something really wrong but the book does nothing really right and the novelty of online dating connecting to economics begins to seem overused near the end of the book.
I just want to know a little about everything, plus my three closest friends are all econ majors. (Genuinely how did this happen I was sooo biased against business people for so long.) It gave me a new perspective on competition by proving that being in a competitive market will make you happier than being the best in a less competitive market because you’ll find a more specialized job, which will both fit your interests and allow you to do less work, as well as work with more people with the same or a similar job so you can still keep improving (despite the specificity that can turn into repetition) and find friends. Also explained how having a niche will bring loyalty, so don’t be afraid of being imperfect, and don’t be afraid of being a little too perfect in an area that might look like an imperfection to others!
An overall enjoyable and easy read. I found the concept amusing and useful. Oyer does a great job in pinpointing ideas and summarising these, however this does mean the book lacks depth. Where the book feel short was in the last few chapters as I thought some information was repeated. It was a good and playful introduction into microeconomics. Not something I would read again but entertaining for a few afternoons of light reading.
I recently enjoy more pop economic type of books or podcasts and was delighted to stumble upon this book at my local library. This book is fun to read and very refreshing. And bear in mind, it is more economics books versus online dating advice book. In addition to online dating examples/analogy, the book also touches a lot on labor market.
Covered a wide variety of topics related to economics and dating. Found it amusing, I would have had similar conversations with friends contemplating how stuff works. He backs up his finding with many references.
Very interesting read on how economics is applicable in daily life. The economics concepts were all undergraduate level and not too difficult to understand but still provided good insight on unconventional markets- like the dating market.
Such an engaging, insightful read. I really enjoyed taking it after my college microeconomics classes. It is funny, informative, and gets you thinking about economics in both dating and in daily life. Great memorable examples!
I read this book for a class, it was a good read and it helps make Econ lessons applicable, but I probably wouldn’t have picked to read this book on my own
Honestly, quite boring and the examples he compares things too just aren't as interesting as what he could get from online dating. However, I did learn a bit, so therefore the read was fine rather than bad.
Search Theory "We are all constantly making decisions that maximize our expected utility." "The answer, of course, depends on how much happier adding the missing attributes would be relative to the time spent starting over. It pays to be tolerant."
Cheap Talk "In some situations, you have almost no choice but to lie or exaggerate about yourself because, given that other people lie and exaggerate, people are going to discount what you say."
Signaling "It doesn't mean you're smarter by having a college degree. It means you've put up with a lot of stuff for four years and you were able to get through it." "... he needs to take an action that is *costly* to himself and that is *easier or more valuable* for him than for someone who does not have the qualities the signal receiver is looking for..."
Adverse Selection "First, there may be perfectly good reasons that a man or woman my age has not had a lifetime relationship, though we are capable of it. Essentially, just as the stigma of online dating has eroded over time, so has the stigma of divorce and delayed marriage. People largely understand that choices made early in life may not be optimal and that we change over time. Second, to the extent that being older and available is an indication of something negative, it is a trait I share with the women I date."
The Returns to Skills "For one thing, it's really helpful to be attractive. It will get you dates and it will make you money. But if you aren't attractive, don't despair. Stay in school! Doing so will also make you more money, and in turn make you more attractive. If you are unattractive and you are really bad at school, then build your network! Get to know people, because who you know will help you get a better job."
The Family "Both spouses could agree to claim some transgression if they mutually agreed to a divorce, but this arrangement came at the cost of tarnishing one spouse's reputation..." "... some economics papers refer to children as "consumer durable goods". Children can indeed be seen as long-term streams of cost and benefits."
Epilogue "The *adverse selection* idea reinforces some dating advice that you probably already knew intuitively - if someone has not had a serious relationship or has had lots and lots of short relationships, there's probably a reason." "And may all your adventures maximize your utility."
"But just as internet daters will exaggerate less if they think they will get caught, ski resorts tell the truth more when skiers can catch their lies. The proliferation of smartphones made it possible for skiers to question snow reports in real time. One SkiReport.com user post in 2009, for example, read, 'Jackson Hole/Teton Village DID NOT get 15 inches today. More like 0.' This immediate feedback had an effect; Zinman and Zitzewitz show that snow report exaggeration shrank noticeably at a typical resort as iPhone reception reached that resort." (37)
"There is positive assortive mating in the labor market, in that the most productive workers match with the firms that can use their skills most productively. Most notably, large firms pay their workers more than small firms do." (157)
"Working with high-output partners shamed the lazy people into working harder more than working with the lazy people made the hard workers slack off." (162)
Paul Oyer's economics in the dating world book gives an interesting look at the economics in play in the dating market as well as economics in our daily lives. I was interested throughout the entire book, and everything he discussed could be applied to real life. I found the chapters on Thick Versus Think Markets and Positive Assortative Mating the most interesting. If you're looking for a book on dating advice, this book offers some, but not much. I'd say this is more of an economists read rather than a potential dater's read (believe me, if you're looking for dating advice, there are plenty of videos on YouTube for that). Even though Chapter 10 had little to do with dating, I really liked his analysis on the evolution of the "traditional" family structure. I'd recommend this to anyone interested in economics or who wants to view dating from an economics perspective.