What love and marriage taught us about market design on NPR's Planet Money
When Alden O'Rafferty and Kyra Dorado Teigen signed up for a "marriage pact" in college, they instantly fell for each other. What they didn't know was that the questionnaire that matched them up was based on decades of economic research. You can't put a price tag on love, but dating and marriage is still a market, and economists have been thinking about how to play matchmaker more efficiently since 1962.
When Alden O'Rafferty and Kyra Dorado Teigen signed up for a "marriage pact" in college, they instantly fell for each other. What they didn't know was that the questionnaire that matched them up was based on decades of economic research. You can't put a price tag on love, but dating and marriage is still a market, and economists have been thinking about how to play matchmaker more efficiently since 1962.
It all goes back to a famous thought experiment: Imagine an island with six people who all want to get married. To each other.