A Look at the Economics Behind the World’s Oldest Profession
By JOHN ALLEN PAULOS
May 7, 2006 —
The best-selling book “Freakonomics” examines the economics of some ordinary life situations. If these situations involve sex, the analysis might be better termed Sexonomics.
One of the first practitioners of sexonomics was Nobel Prize-winning economist Gary Becker, whose 1970s paper “A Theory of Marriage” pushed the economic analysis of sex into the purview of his fellow economists.
More recently, two other economists, Lena Edlund of Columbia University and Evelyn Korn of Eberhard-Karls-Universitat Tubingen, have published an intriguing paper, “A Theory of Prostitution,” (link: http://www.iies.su.se/seminars/papers/Edlund.pdf) in the Journal of Political Economy. Continue reading