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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: Well, in everyday life, we’re always going around making decisions and some of those decisions are very costly.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.We just buy one share of whatever company it is or we just buy one ton of soybeans or whatever it is.We hope that you will join us for a lively evening discussion of economics, game theory, and dating. 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.Learn Vest: First of all, what does online dating have to do with economics?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.

And if I want to buy a new house and I go from open house to open house, I could be doing other things.

When I recently began dating again and went searching for a new partner online, I saw firsthand that understanding economics can give you a leg up.

The dating world is a market and markets are what economists know best.

Search models can be applied to several circumstances, such as housing, unemployment, and of course, dating.

PHOTO BY: FRAN DJOUKENG " data-medium-file=" w=225" data-large-file=" w=700" class="wp-image-2817 size-sequential-logo" src=" w=468&h=624" alt="IMG_0866" width="468" height="624" srcset=" w=468&h=624 468w, w=936&h=1248 936w, w=113&h=150 113w, w=225&h=300 225w, w=768&h=1024 768w" sizes="(max-width: 468px) 100vw, 468px" /Generally, students at BYU date an assortment of candidates in the quest for “Mr. Right.” Wisdom dictates that most individuals can “fall in love” with a handful of complementary individuals.

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