ECN 340 Lecture Notes - Lecture 3: Demand Curve, Match.Com, Marginal Cost
10 Jun 2019
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Document Summary
In analyzing sexual behavior using the economics approach described in the first two lectures we ignore moral and value-judgements. In addition, we aren"t attempting to answer every question or explain every choice. We are focused on behavioral responses to shocks that are interesting, ideally counter-intuitive so as to be thought provoking, and that can be explained by rational behavior. We started our class discussion focused on sex for procreation. Our guiding assumption was that the sexual drive historically has had evolutionary advantages. For this analysis we decided to treat sex as a normal" economic good/service. We identified sex as a normal" good, which implies that as income increases the demand for sex would increase (the demand curve would shift rightward). Here income refers to non-money resources since we aren"t considering prostitution in this section. We compared this characterization to that of an inferior good for which we desire less as our income increases.
