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How Tinder Destroyed the Dating Market
On the economics of dating.
I wrote this article in 2020. It remains more relevant than ever. Enjoy.
Dating for millennials is getting harder for one reason: abundance.
Social apps transformed the nature of dating from a social activity to a market of goods with consumers that buy them.
While in the past, meeting people required effort, you can now meet millions of people by signing up on dating apps (which requires little effort).
This has led to three different changes in the dating world.
- Economics teaches us that when the volume of a product increases, the value of this product declines (1). Since people have more choices, they’re less interested in dating than before.
-> abundance decreased the value of a potential partner in the eyes of people.
2. Since the cost of acquiring the good is lower, consumers are less willing to make efforts to acquire it and to maintain it. Since people have more choices, they’re less interested in appearing attractive to please their date than before.
-> abundance decreased the motivation to find a partner.
3. Furthermore, as people are offered more choices, consumers’ standards and expectations…
