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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?

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But the world is not ideal and going about searching through people is very costly.

So online dating has actually provided a boon to the market, or at least from my perspective I think of it that way.

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.

Shopping for a house and shopping for, that’s terrible terminology, but trying to find the right life partner are very similar in the one sense where each one is different.

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