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Economics of Relationships

Economics of Relationships. Sung Ho Son Nian Tong Krane Stahler Derek Stoler. The Economics of Mating. Preferences: Money, Good looking, Nice personality(Kindness), Humor, Intelligence, or all of them-can be referred to as ‘D’. Benefit: Expectations, Feelings of excitement

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Economics of Relationships

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  1. Economics of Relationships Sung Ho Son Nian Tong KraneStahler Derek Stoler

  2. The Economics of Mating • Preferences: Money, Good looking, Nice personality(Kindness), Humor, Intelligence, or all of them-can be referred to as ‘D’. • Benefit: Expectations, Feelings of excitement • The cost to make a dating mate: Sunken Cost-Spend a lot of time but rejected Opportunity Cost-You can spend the time for other things.

  3. The Economics of Dating • Increase in Dating mates Decrease in people who are willing to make new relationships in society • Decrease in Dating mates Increase in people who are willing to make new relationships in society • Opportunity Cost Of Dating: You cannot go out with other guys or girls who can meet your expectation which current dating mate doesn’t offer you.

  4. Living together • It’s an option for people who lack the will and effort to handle responsibilities after marriage and the union reduces the cost. • Woman getting married late • (1) waiting for the right time to increase value • (2) financially independent • Benefits • Have a partner • Avoid social responsibility • Cost of terminating relationship is lower than dealing with divorce

  5. Marriage without children • Gain maximum income • Two people taking good care of each other • A single guy • A single girl (Under the condition that they are really attracted to each other) 3. Traditional marriage

  6. Love has its power in relationships • Human nature • Physical need • Giving birth to children and raise them • Opportunity cost of living freely (3) Love reduce conflict and cost Difference of living together and getting married -> engagement ring

  7. Economics in Marriage • Who has what career already established? • Typically the husband has the successful career • On average men will marry younger women • Where will the couple be living? • Women now taking on more male ran occupations • Communication is key • Need to have an understanding on relationship costs • Financial advice for those that need it • Avoid jargon when talking finances together

  8. Economics in Marriage cont. • Marriage allows for specialization • Both sides get to emphasize their strengths • Understanding of finances is crucial • Need to know where finances are located • Know how to liquidate if necessary • Have understanding on legalities involved • Deeds, Wills, Property agreements, etc. • Equal efforts are necessary for greater success

  9. The Ending Stage: Divorce • Stay together or not? • That is the question • 50% divorce rate • Decreasing divorce trend • Misleading • Number of marriages has decreased • Bad combination

  10. Issues Faced • Money • At end of marriage • A cause – large factor • Women vs. Men • Shear cost • Children = more cost • Alimony & Child Support • Other Matters

  11. Life After Divorce • Decreased standard of living • Mothers with custody especially • Economy suffers • Other Stresses • Work Life • Serious adjustments made

  12. Questions?

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