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Monday, 29 December 2014

Study shows money spent on wedding ring is negatively linked to marriage longevity

I had the benefit of coming across the study, called: "‘A Diamond is Forever’ and Other Fairy Tales: The Relationship between Wedding Expenses and Marriage Duration" by Andrew M Francis and Hugo M Mialon.

In their study, they attempted to investigate whether the price of wedding rings have any correlation to the length of the marriage. From the paper, it seems that they got 3,000+ valid responses through Amazon's MTurk service.

Based on this study, wedding rings, it seems, is not the most important thing for new couples. Although, it is clear, that the wedding industry wants new couples to spend as much as possible, thanks to its slogans -- "A diamond is forever" -- "Surely two months' salary is not too much to pay for a diamond that lasts forever?" -- all these can be categorized as pure baloney, meant to extract every single dollar from your pocket, if it were at all possible.

So head on over to the good ol' SSRN website and download a copy of the study. Here is the link:

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2501480

If you ever plan to get married again, you could cite that paper and perhaps, save a few dollars on the wedding ring.

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