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.
PAUL OYER: Well, in everyday life, we’re always going around making decisions and some of those decisions are very costly.
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. 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?You'll meet other people in your age and interest group through a series of face-to-face six minute "pre-dates" in a private area at a local upscale restaurant/bar. After a successful "match" and quick exchange of e-mails, I asked Theresa to a local concert.Likely due to the successful "first-vibes" of our pre-date, we hit it off instantly and have been a couple ever since...." - More Speed Dating Success Stories -- Events near you!