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Iris
Catherine Fragou
Original language
Greek, Modern (1453-)
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Economy of Love

Nikos Koutsiaras

Economic theory has long expanded its prerogative into the fields of sociology, ethnography and social anthropology. From Gary Becker to Steven Levitt and Stephen Dubner (the authors of Freakonomics) to Tim Harford, economists have sought to provide rational explanations of people’s behavior in various domains of human interaction, be they marriage, crime, drug addiction, crosstown traffic or sumo wrestling, to name but a few. Yet, love and romantic partnerships have so far been in the shadow – conspicuously, one may say.

This book deals with the market for love, in particular, transactions between prospective partners and love contracts of all sorts. It is a study of love decisions made under uncertainty and exposed to risks arising primarily from asymmetric information; deception is the most prevalent amongst those risks, for sure. Thus, the argument is theoretically grounded on the standard rational choice model of decision-making but it also draws heavily on the literature in behavioral economics; it additionally takes account of recent attempts to bridge the distance between the neoclassical and behavioral approaches, associated with the theory of motivated reasoning. 

Written in a non-technical form, the book often makes references to literature, music and cinema and appeals to common sense and shared experience in order to portray the empirical relevance of the theoretical arguments put forward. 

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Published 2023-05-30 by PAPAZISIS

Main content page count: 162 Pages