My economics textbook's advice on finding a spouse:
A rational search will always terminate before all possible optons have been investigated. Thus in a search for a partner in an ongoing bilateral relationship, there is always the possibility that a better partner will turn up after the search is over. In most contexts, people deal with this problem by entering into contracts that commit them to their partners once they have mutually agreed to terminate the search.
How funny – an economic rationalist approach to romance. Do they say anything about mergers and acquisitions, hostile takeovers, shareholders, and audit reports?
lesley / 1:31pm / 15 June 2004
I don’t think we do those until second year accounting. Economists aren’t concerned with the nitty-gritty of marriage, only the big picture.
Ryan / 8:15pm / 15 June 2004