4.6 • 40.4K Ratings
🗓️ 9 February 2016
⏱️ 22 minutes
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0:00.0 | This is Hidden Brain, I'm Shankar Veda Anthony. Flowers, candy, sappy love songs. Yep, Valentine's |
0:10.4 | day is just around the corner. This week we're going to talk about the social science of romance. |
0:17.0 | We'll tell you how to save cash on an engagement ring. Turns out that the circumstances that surround |
0:22.7 | the ring matter a great deal in about how much people are wanting to pay for it. And why it will |
0:27.3 | be good for your marriage to buy that cheaper ring. We'll also explore the relative merits of a |
0:38.0 | guitar case or a gym bag as props in an experiment on attraction. He's going to be like the pie |
0:43.8 | piper, they're going to be following him wherever he goes. |
0:46.5 | And Bowers is a professor at the University of Toronto. She studies how consumers determine how much |
0:59.2 | to pay for wedding related purchases. I was looking at how people sell wedding dresses and what I |
1:06.0 | noticed about how people sell wedding dresses is that it is a lot about the day. How happy their |
1:12.6 | marriage was, how beautiful their wedding was, and they show a lot of photos that have nothing to |
1:17.7 | do with the dress itself and a lot about the experience that they had. And I wanted to look at |
1:23.9 | how that impacted sales, but it's hard to do that statistically. So I switched to looking at |
1:30.4 | engagement rings. She looked at online sales of engagement rings. And if you've ever shopped |
1:37.4 | for an engagement ring, you know that people buy engagement rings based on four things. Cut color, |
1:42.4 | clarity, and carrots. But it turns out that the circumstances that surround the ring matter a |
1:47.9 | great deal in about how much people are wanting to pay for it. So I looked at about 1.5 million |
1:54.0 | eBay transactions. And then I also ran an experiment of about 600 people. And I found that people |
2:00.7 | really want to ring that they perceive as pure and not tainted. And by tainted I mean from a |
2:06.0 | failed relationship. In the experiment, Bauer's offered the volunteers identical rings, but different |
2:14.4 | scenarios. The first condition was a store condition where they said, we have excess inventory, |
2:21.8 | and so we're selling the ring. Then we also had a happy marriage condition where the person said, |
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