David Friedman - Dating Markets, Legal Systems, Bitcoin, and Automation

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  Today I have the pleasure of interviewing Dr.

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  David Friedman,

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  who is a famous anarcho-capitalist economist and most recently the author of legal systems very different from ours.

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  So my first question is this.

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  Is the dating market efficient in the sense that it doesn't maximize net value?

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  It's not a competitive market

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  because I'm not substitutable for another bearded 20-year-old Indian man.

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  So I'm curious if you think how efficient you think the dating market is.

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  Oh boy.

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  I've been puzzled for quite a while on why online dating doesn't work better than it does.

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  That in principle, a lot of dating is a sorting problem.

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  That not only are you not identical to another bearded Indian or ethnic man of the same age,

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  your potential dates have different tastes.

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  So that it's really, I actually discussed some of this.

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  I've got a chapter in my price theory text,

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  which is really on what I think of as the marriage market,

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  although it applies to dating more generally.

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  And I have one model,

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  which is the really simple economic model in which in effect everybody is identical.

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  And you have a market in which there's an implicit price in terms of the terms of marriage,

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