It may look like just another reality dating show, but Love Island is also a live experiment in incentives, preferences, and strategic matchups. Here's what an economist sees when a new bombshell enters the villa.
One reason I pursued economics was when I learned economists were behind the algorithms for Match.com; Gale-Shapley algorithm. This truly depicts economic theories and how not having all the information affects decision making; how fascinating to see how people decide with the limited information available, but also how we all think and strategize.
One of the joys I have in teaching is talking about where economists pop their heads into different things. I love showing how companies like Walmart, Uber, and Amazon are hiring scores of economists to help them test out new things.
I think we can all agree the show would be much more interesting if Gale and Shapley were actually on it. I know what you're going to say: "they're both dead." I stand by my comment.
One reason I pursued economics was when I learned economists were behind the algorithms for Match.com; Gale-Shapley algorithm. This truly depicts economic theories and how not having all the information affects decision making; how fascinating to see how people decide with the limited information available, but also how we all think and strategize.
One of the joys I have in teaching is talking about where economists pop their heads into different things. I love showing how companies like Walmart, Uber, and Amazon are hiring scores of economists to help them test out new things.
That is a fact, they all require PhDs. I am still figuring out that part.
I think we can all agree the show would be much more interesting if Gale and Shapley were actually on it. I know what you're going to say: "they're both dead." I stand by my comment.
A longer-form explanation of the algorithm as applied to the show, with a couple of example rounds drawn out (this helped my understanding): https://www.scientificamerican.com/article/the-stable-marriage-problem-solution-underpins-dating-apps-and-school/
Numberphile on the stable marriage problem: https://www.youtube.com/watch?v=Qcv1IqHWAzg