2017, the year of Trump, Taylor Swift’s shade throwing and undoubtedly the year of the hottest Bachelor Australia has ever seen. Thank you Matty J for putting aside your genuine fear of breaking others’ hearts to grace our television screens, shirtless, once again.
As we approach the Grand Finale of the rose ceremonies and find out just who Matty has chosen as his happily forever after, we have decided to break down the mushy and add a rational, I mean “economic” approach to falling in love.
*vomits in mouth*
While I fully know that all Australian women agree that Matty J is the nation’s guilty pleasure (don’t lie to yourself, you’ve all swooned over him at some point), I don’t think they fully understand just how smart the man behind the abs actually is. You see, despite his cheeky facade, Matty J has unquestionably entered into the most efficient way to meet ones’ future “true love” *cough*.
Forget search costs, time wasted on blind dates and that one particularly awful tinder encounter. The Bachelor is the new and improved optimal way to meet the girl of your dreams… (terms and conditions apply)
Remove the restricting barriers and floors of expensive dates and replace them with a singular rose (and all expenses paid dates — Chanel Ten, stop looking, I’ve worked out why you’re going broke), a hand picked selection of 20 girls and you’re set to maximise your chances of finding love. To quote the man of the hour, ‘it is like someone else does the hard work for you.’ Men of Australia, this guy’s onto something.
According to Paul Oyer ’89, Fred H. Merrell Professor of Economics at the Stanford Graduate School of Business, “searching for a partner is just cost-benefit analysis, you keep searching until the point where the expected costs of finding someone better outweigh the benefits of looking for that person,” (Oyer, 2017).
Once you couple sound economic reasoning with informatics and cognitive science, the magic number of relationships you have to have before settling down currently stands at 12. Peter Todd, Indiana University Professor, concludes that twelve partners is enough to, ‘establish some baseline standards.’ Using the baseline standards to create an investment criteria, the optimal conclusion is to, ‘settle down with the next person you meet who exceeds the base standards’ (Todd, 2009). So next time you finish a good date, don’t forget to update your excel spreadsheet so you can conduct some DCF analysis on your next unwitting catch.
Take it from either the 2017 Bachelor or Stanford lectures, your choices currently stand at dating 20 people simultaneously or dating 12 people one after another and then settling for the next tinder date, because according to economics, “Loneliness is just romantic unemployment.”
Oyer, P. (2017). What’s the Price of Love?. [online] Yale School of Management. Available at: http://insights.som.yale.edu/insights/whats-price-love [Accessed 7 Sep. 2017].
Lenton, A.P., Fasolo, B., and Todd, P.M. (2009). The relationship between number of potential mates and mating skew in humans. Animal Behaviour, 77(1), 55-60.