The Blind Date

1. The Blind Date

2. Jake: Single Investment Banker Sports Enthusiast Active in the Community Enjoys Nice Restaurants Betty: Overweight Unemployed Hates Sports Lives with her parents Problems maintaining relationships The Players

3. Setting the Stage Jake receives a note from a woman named Betty requesting a date. In the note Betty discusses her aspirations, achievements, the gym she belongs to, area she lives and the events she has brushed shoulders with Jake. Jake accepts the date but contacts us for help.

4. Jake’s Dating Costs • 25% chance the date is successful • 75% chance the date is unsuccessful. • Jake has no interest in ever seeing Betty again. • Cost of dinner: ($100) • Opportunity cost of going on the date, not hanging out with friends and potentially meeting “the girl of Jake’s dreams” … ($50)

5. What’s needed to go on a blind date? Go on date without screening: Success: .25 * $100 = $25 Failure: .75 * ($100) + ($50) = ($125) Expected Payoff = ($100) Go on date with screening: Success: .75 * $100 = $75 Failure: .25 * ($100) + ($50) = ($75) Expected Payoff = $0

6. Informational Screens • Meet for a drink earlier in the week • In a location where you will not be seen • In a place with plenty of friends around • Reduces the overall cost • If you don’t like her, it only costs you $10 because you can cancel the date. • 20 Questions • Where did you go to school? • Where do you live? • Where do you work? • What are your hobbies?

7. Hurdle Obstructing Screens • Ask for a picture • Although informational, it requires an act on Betty’s part and signals her intent • This removes the possibility of Betty lying. • Jake must be sensitive to reputation here • Pick a certain type of restaurant and ask Betty to agree or not • This diversifies some of the risk of an unsuccessful date to Betty from Jake

8. Risks of going out with an undesirable date: • The girl you have been interested in sees you out with another girl and will now never go out with you. • This unattractive date gives you a bad reputation. • You blow $100 on someone you have no interest in. • You miss the game and are ridiculed at work when people find out what you did instead of watching the game with your friends. • You waste several hours of your life that you will never get back.