Aug 31, 2011

Economics of the Prostitution Industry

If I'll be pursuing my masters degree in London School of Economics (my ultimate dream school that will hopefully pave way to UNESCO, IMF or World Bank [or at least ADB]), my thesis would be about the prostitution industry in Ayala Center. I'm not even kidding.

If you've read Super Freakonomics by Steven Levitt and Stephen Dubner, there is a chapter there with the title "How is a Street Prostitute Like a Department-Store Santa?" After reading it, I remembered how my high school friends and I frequent the Greenbelt area and see there women in kinky outfits behaving maliciously (to put it lightly) towards foreigners. Sometimes we'd just sit there and watch/laugh at them. But of course we know that their reality is much more complicated and multi-layered. Going back to my research...

The variables to be tested and compared are endless! Thinking about them just makes me very very excited! Having observed these women flaunt their best assets (skills not included) makes me more curious about the micro and macro implications of the "oldest profession in the world." And that curiosity somehow needs to be satisfied, as academically as possible;)

I have several questions in mind: Has prostitution declined over the past few years because of the introduction of an easier (not to mention safer) alternative - premarital or casual sex? What are the peak seasons and how do prostitutes make sure the demand is being met? Alternatively, does the law of diminishing marginal returns take place due to over supply? ...

Oh if I'll only be given the opportunity to write a thesis about it! Haha! Or maybe even a book! Might be a very fun read! But who knows, maybe someday;)

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