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Dear Tyler (Prudie)

Here is a recent column of hers, but I would have answered the readers' questions differently.  A' la Tim Harford, let's see how the advice of this economist might have come out...

Question: After several years of searching for Mr. Right, I have met someone who holds great promise for a long-term relationship. He is a soft-spoken man who treats me with great respect. He's been a widower for many years, raising his children alone and doing a marvelous job. He's a hard worker, honest, and seems very smitten with me. We have a great deal in common including our profession, which has been a real challenge for me since I have a nontraditional job in agriculture. The problem is, he's an awful kisser, something I find pretty important when it comes to intimacy. How do you tell someone that the way they kiss is a real turnoff and not hurt their feelings? It's not like we're kids, we're in our 50s.

Tyler: This is a signal that you don't adore him as much as you think.  Some basic technique is required, but kissing is ninety percent psychology and connection.  Cut through the self-deception and ask yourself the honest questions.  Why didn't you write "I love him"?  Your second, fourth, and fifth sentences make him sound like a dullard whom you will grow to despise.

The economist can be brutal, no?  Let us try another one:

I been involved with a lady for two months. We have much in common, and in many ways it's a very satisfying relationship. Recently she dropped a bomb. In the middle of conversation she announced that she was going to kill herself when she was 75. Did not want to go through the usual body/mind deterioration. She made this choice at 18, after watching Harold and Maude. I watched the movie but could see little that would cause one to make such a brutal decision and stick with it. She's 51 now. We are on a month's sabbatical from the relationship. I'm just coming out of deep mourning and feel it's my role now to try to convince her of the wrongness of her decision. I've decided it's the most selfish, arrogant act imaginable. She wants family and friends there to cheer, "What a wonderful life. What a glorious death." Out of love, I must try to dissuade her from this wasteful end. Any advice? Why did she have to tell me this late?

Tyler: Have you heard of "cheap talk equilibria"?  It is unlikely she means to carry out her plan.  Probably when she was eighteen she thought she would kill herself at age 51.  That being said, read my advice to the first question above.  You probably don't want her anyway, and you are writing Prudie [Tyler] to put off facing this unpleasant truth about yourself.  You are still not out of your mourning, and that will wreck this relationship whether you want it to or not.

Let's skip the question about non-intersecting offer curves and move to the next:

I am engaged and we are in the process of planning our wedding. There is a huge debate over what is OK to put in the invitations and what is not. My fiance and I have been living together for a little over a year and we aren't planning on registering because we already have so much. So, monetary gifts would be great for us! Now, how do you put this in your invitation? A few suggestions have come up but we don't want to seem rude or crass. Please help!

Oh, what a softball.  We have already blogged on the deadweight loss of gift-giving, here and here.  So my major advice is simply to read MarginalRevolution on a regular basis.  I can add only that if you are going to ask for money, set up a college fund.  Your kids-to-be are not yet experiencing the impatience of waiting for the money, which implies an arbitrage opportunity with g > r, or the growth rate of the funds greater than the rate of time discount.  Nor do I think that the mechanisms of Ricardian Equivalence will fully offset this transfer.  Got that?

Posted by Tyler Cowen on February 13, 2006 at 06:24 AM in Education | Permalink

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Comments

ick! ick! ick! I don't care if it's inefficient, asking for money is one small step above charging your guests admission.

Posted by: Jane Galt at Feb 13, 2006 8:02:15 AM

Jane is right. But if you already have too much stuff, IMHO it is ok to ask for guest to contribute to a particular charity in your honor. I've been to one bridal shower where this was done (the bride and groom both worked full time at non profit social services, and are very committed to helping others). This idea is however much more common at funerals than weddings.

Posted by: DK at Feb 13, 2006 8:25:36 AM

1) Jane, I agree completely!

2) Tyler, I think you've found your calling. This is the best entry ever!

Posted by: Collin at Feb 13, 2006 8:36:00 AM

Do note that my posts on "inefficient" gift-giving cite many benefits of the practice. I am suspicious of the narrow economistic argument, not endorsing it.

Posted by: Tyler Cowen at Feb 13, 2006 9:03:40 AM

Regarding wedding gifts: Put all the money into a fund to pay for a reunion party in ten years. If it does well enough, it will even pay for guests' travel. Good times, good times.

Posted by: Brant at Feb 13, 2006 9:24:12 AM

I wholeheartedly agree with Collin, this is a really superly entertaining blog post.

I hope you do this on a very regular basis. You could make a book out of these and outsell Freakonomics!

Posted by: Matthew Cromer at Feb 13, 2006 9:48:46 AM

Regarding the second letter - the couple's been dating for two months, yet are already on a month's "sabbatical" from the relationship? I'd say it's a little early for such a step, but then again the whole idea of a "sabbatical" in a dating relationship makes precious little sense to me. If I were Prudie, I'd advise to correspondent to make a permanent break.

Posted by: Peter at Feb 13, 2006 10:08:29 AM

re:wedding gifts

Cultural snobbishness.

Many countries and cultures find it perfectly acceptable, even appropriate to give cash not gifts. The American way seems foolish and extravagant. I love the USA, but this habit is Pffttt. Something dreamed up by upper mid New Yorkers to keep the plebes in their place.

Posted by: anon at Feb 13, 2006 11:07:14 AM

The custom of gift giving at weddings (like bride prices or dowries) is designed to transfer wealth to the next generation (in a more controlled fashion than inheritance). Which means control lies with the giver. Sorry, honey, you've got no power in this relationship, and in order to get what you want you're going to have to sacrifice some of the cash value (and whatever time it takes to put the stuff on EBay.

Posted by: Tim at Feb 13, 2006 11:42:15 AM

A couple that I know who are getting married this summer have "registered" for honeymoon events rather than silverware or furniture. So you can chip in and buy them horseback riding, or scuba diving lessons, or a day at the spa, etc.

This strikes me as a tactful solution.

Posted by: John P. at Feb 13, 2006 11:43:13 AM

anon: in the US most people don't mind receiving cash; it's the idea of using your wedding invitation to ask for cash that is offensive. For that matter, referring to any of form gifts on a wedding invitation at all can be seen as rude. Giving a guest a list of demands is only appropriate if the guest is Santa Claus or a professional hostage negotiator. Otherwise, let the guests choose to ask where your registry is, if they wish to do so.

Posted by: DK at Feb 13, 2006 11:50:56 AM

Tyler, economists are hot nowadays (Freakonomics etc) and you've just hit on the perfect vehicle to leverage your own talents and credentials. You should immediately start a second blog solely to fulfill your destiny as agony aunt. I see books, speaking engagements, the works. There are big bucks in your future.

Truly a great blog post...

Posted by: Dan at Feb 13, 2006 2:29:23 PM

Regarding wedding gifts: don't get away from the person's actual question: is it okay to ask for $$$ IN THE WEDDING INVITATION. Etiquette is clear: no. Nor is it acceptable to inform people in the invitation if/where you are registered. These are communications that must happen (etiquette speaking) outside of the wedding invitation, regardless of the inefficiency. Personally, I will give less to someone who breaks these rules. "No gifts" is acceptable to include, and I personally wouldn't be offended by "donations to whatever charity", but that's all.

-Kevin

Posted by: Kevin Postlewaite at Feb 13, 2006 3:25:49 PM

When my brother and sister were married (to other people!), a nontrivial number of people were invited whose wedding gift was a few hundred dollars, i.e. essentially they paid for the monetary costs their attending imposed. More or less, this was an opportunity for many of the guests (essentially, freinds of our parents) to gather in one spot from all over the US and socialize.

Posted by: Sam at Feb 13, 2006 6:37:42 PM

Forgot to mention: this apparently is a common custom among this immigrant group, Koreans. My parents also go to other weddings and probably are doing the same.

Posted by: Sam at Feb 13, 2006 6:39:01 PM

A solution for the wedding gift question. There are actually 2 questions. First, how do you negotiate the preference for giving gifts rather than cash, second, how do you communicate this. Register for stuff that you already have, at a place that takes returns. Receive gifts, return them, keep cash. When they come to visit, casually use the items they "bought". Thank them profusely.
The communication question is a separate one. I've seen invitations with no information regarding registries, some apologetic information ("No gifts necessary, but if you really want to, we are registered at..."). Personally, I think that's what the FAQ section on the wedding website is for.

Posted by: Homechef at Feb 13, 2006 6:42:09 PM

do any one remember the godfather?

Posted by: john at Feb 13, 2006 7:17:25 PM

The needing-dollars issue is easy. Simply register at a store which allows you to exchange any gifts for the full cash value. Bloomingdales allowed this 10 years ago and probably still does. Your guests get the benefit of picking out the perfect server bowl, but you still get the cash. And Bloomingdales wins because it gets use of the money before you return the gift (and many people end up not returning as much as they might have expected to).

Posted by: David Kane at Feb 13, 2006 9:27:20 PM

"2) Tyler, I think you've found your calling. This is the best entry ever!"

Well, the last answer kind of reminds me of the "Ask a ..." Onion feature, you know like:

http://www.theonion.com/content/node/37434

I mean, could 'The Onion' really do better than:

"Your kids-to-be are not yet experiencing the impatience of waiting for the money, which implies an arbitrage opportunity with g > r, or the growth rate of the funds greater than the rate of time discount. Nor do I think that the mechanisms of Ricardian Equivalence will fully offset this transfer. Got that?"

Posted by: Slocum at Feb 13, 2006 10:18:56 PM


Wow ... this changes my interpretation of the email replies I get from Tyler when I occasionally crab about entries on the blog. I used to think he was in a bad mood when replying to my emails - now I think he is in a good mood! :)

Posted by: Jeff Smith at Feb 13, 2006 10:44:24 PM

You simply MUST make this a regular feature. Also, I think in addition to Dear Prudie you should also write your own answers to the questions sent in to Dan Savage ("Savage Love"). Or do a different advice columnist every week...

Posted by: Jacqueline at Feb 13, 2006 11:57:51 PM

Awesome post, Tyler. I hope that you do more of these in the future.

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