In a recent study, “An Empirical Analysis of Street-Level Prostitution,” University of Chicago professor Steven D. How do prostitutes and their customers, or “johns,” find one another? How much do prostitutes charge for a service, or “trick,” and how is that price negotiated? If a john prefers not to use a condom, how much more does he have to pay? How does a prostitute’s wage compare to what she earns for doing other jobs? What happens when there’s a sudden surge in demand for prostitutes, and how do prostitutes meet this demand? The difficulty of obtaining reliable data is partly to blame for the dearth of empirical analysis on the subject. Interesting questions emerge when one thinks of prostitution as a market, but there is surprisingly little research on the economics of this particular profession. ![]() As a result, prostitution operates just like a market: it is populated by buyers and sellers who mutually benefit when they come together to perform a transaction. Moreover, it is in the interest of both the prostitute and the client to do their best to find one another. There are two parties involved but it isn’t clear who the perpetrator is and who the victim is. The crime of prostitution, however, is quite different. The perpetrator typically looks for his victim and the victim avoids the perpetrator as much as he can. Most crimes involve a victim and a perpetrator. ![]() A recent study sheds light on the business of selling sex in the city of Chicago and finds that it is much like any other business. Despite being called the oldest profession in the world, little is known about how this unique market works.
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