Thursday, October 11, 2012

The price of hormones

Good evening everyone. I just heard the news of two teenagers in Germany being accused of pawning their mother's jewelery in order to visit a brothel!

Apparently the jewelery was worth 3000 Euros, and the two 14 year olds got 300 Euros in order to satisfy their hormonal needs. So to put it in economic terms, the opportunity cost of hormones was the jewelery they pawned. They were prepared to take a loss of 2700 Euros to do their thing.
I am wondering what they would have pawned if they were 15 or 16 years old. Do hormones have positive relationship with the value of pawned jewelery?

Have a good night!

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