Income Elasticity and Pam and Jim

Textbook Definition of Income Elasticity: The percentage change in quantity demanded of a good when income rises by 1%; a measure of whether a good is "normal" or "inferior."

She-conomic Definition: Assume that "income" is the financial, physical, and emotional "resources" an individual possesses (e.g., self-esteem, money, sex appeal, intelligence, etc.) as means for "purchasing" or attracting dates. When income rises, demand for "normal goods" (dates with "higher-quality" people) rises, while demand for "inferior goods" (dates with "lower-quality" people) falls.

For example, in The Office, when Pam's "income" rises (i.e., when her self-confidence grows in Season 3, as evidenced by her bravery in the Beach Games episode), she reduces dating activities with low-quality men (Roy) and increases dating with high-quality men (Jim!).

I mentioned a few examples of factors that might constitute "income." Can you think of anything else that might add to an individual's "date purchasing power"? How would you describe an "income-normal" man or woman?

Sunk Costs and Unhappy Relationships

Textbook Definition of Sunk Costs: Fixed costs that cannot be recovered once they have occurred.

She-conomic Definition: All the past time/money/tears you "invested" in a relationship. Since these costs occurred in the past, they are "sunk."

Have you ever had a friend/roommate/acquaintance who prolonged an unhappy relationship for months and years just because she felt like she had "invested so much" in the relationship and didn't want to walk away after all of that effort? Better to cut your losses, I say. (I wonder if Pam Beesly would have dumped Roy sooner if she had had a better understanding of sunk costs. No need to prolong a sub-optimal relationship just because he was your high school sweetheart.)