Valentine’s Day Economics

With Valentine’s Day fast approaching, it’s a good opportunity to think about all those roses and how the market process brings them to our door.

Our Principles of Microeconomics course at MRUniversity has two videos on this theme beginning with I, Rose and followed up with the the classic, A Price is a Signal Wrapped up in an Incentive.

We have also created a Lecture Plan that offers some fun ideas for teaching economics around Valentine’s Day.

Comments

I was wondering does it make economic sense to buy flowers for girl(s)?

Women are solipsistic, they will take all you have and still want more

Well said.

When the wife is happy, the wife is happy. When she's miserable, I'm miserable.

After 37 years (three of the best weeks of my life) the wife and I are past flowers. I stopped that silliness after she counted the dozen roses and found it one short.

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It is cheaper than buying diamonds, I guess.

That wouldnt even cross my mind, even if the woman was called Gisele Bundchen, or she if won a Miss Bunda contest.

That's the Low per capita GDP of Europe talking.

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I suspect that the habit of buying jewelry started because gold and gems are reliable stores of value. Especially jewlery, you literally wear it around your neck, so it's pretty safe, and you have it on you when you need to flee, and it doesn't occupy a hand. And the extra jewlery takes up little space and weighs little.

If you live in a time and place where the currency is unreliable and you might need to run away with only the belongings you can carry, then it makes a lot ot economic sense to purchase diamond necklaces for your wife.

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"That wouldnt even cross my mind."
Neither mine, abundant supply keeps the price low. Regarding beautiful women, and maybe only regarding beautiful women, we have to deal with the "embarassment of riches" and accept the challenges of an "affluent society", the lonely (but in good company) superpower even..

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Does it make economic sense to buy flowrers?

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I thought "I, Rosie" was Asimov's book about the Jetsons' robot maid.

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I give a wide berth to anything described by "fun" as an adjective.

This is not a surprise.

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Yet one more great video.

As the economist's joke goes: "Of course I bought my fiancee a fake diamond engagement ring. If she truly loves me, she will never have the glass appraised."

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