But my own hunch is that there would still be some kind of market failure, especially if getting a first date -- even if it means being a bit of a letdown in person -- is viewed as more important than reducing the chance of a second.
Indeed, in some ways the problem of information asymmetry in the unfettered dating market seems more intractable than it does elsewhere.
Subsequently, men have way less quality pictures of themselves for a dating profile.
But men know online dating requires pictures, so they do what they can to make sure they have some.
It all comes down to something called "asymmetrical information." Daters know more about themselves than their prospective mates.
They are just fun facts.) As such, it should come as no surprise that when many men have to start describing themselves in their online dating profiles, they are stumped!
They do the adult equivalent of pointing, grunting and crying.
Everyone wants to find good dates -- and are wiling to lavish them with expensive dinners and whatnot -- and avoid bad ones. Everyone in the market can pretend to be a good type -- say, by lying on their Internet dating profiles.
So now you have this market where everyone is presenting themselves as a good type. You don't know which ones, so you'll value every potential date a little bit less than as good as they look.
Men think women have it easy, that they can just put up pictures and emails start cascading in from all kinds of men they have to compete with.