Economic approach to explain the existence of prostitution - Essay Example

As a result, the opportunity cost of forsaking a wife or a girlfriend for a prostitute is that, an individual is able cut on unnecessary expenses meant to please a girlfriend. Further, an individual would save on time that is wasted while trying to please a girlfriend or wife with picnics, dinner or visiting holiday resort (Merriam-Webster, 2013). In addition, the money that is channeled to a wife or girlfriend can be used for other personal gains such as improving one’s business venture. The cost benefit of accessing the services of a prostitute is that the buyer can select from varieties, and one is not compelled to stick on one seller.

In essence, the quality that the buyer gets depends on how much the buyer can pay. The business is flexible in the sense that a buyer can assess the seller’s services depending on the amount the buyer can pay. In this context, the higher the quality of the services rendered, the higher cost for the buyer and vice versa. In the business of prostitution, the buyer is not interested in establishing a relationship, but to access the services of the seller on a short term basis. This is more convenient compared to a stable relationship where the buyer (male) is compelled to provide both material and emotional support.

Numerous responsibilities often arise from a relation, and as a result, the prostitution business is on high demand at the present due to the buyers avoiding responsibilities of marriage and looking for short term pleasures.. However, it is the male who often feel pinched as a result of spending exorbitantly on gifts and other pleasantries while receiving none on return (Postrel, 2006). While, on the other hand, the sellers are professionals who only engage in satisfying the desires of the buyer in a short period where both come out winners.

The buyer gains in terms of pleasure provided and commensurate with the payment while, the seller gains in terms of payment for services by the buyer. Buyers are often attracted to a quick delivery of services in which no attachment are formed so as to save on unforeseen expenses in the future that, is a product of a long term relationship. As a result, in terms of cutting on the cost of maintaining a relationship, prostitution offers an alternative for buyers to budget for pleasure rather than an impulsive spending influenced by relationship bonds (Postrel, 2006).

On the other hand, the seller in this business often the women engage in the business for a number of reasons. It could be that the business pays highly, or it is a cheaper means of earning a living for those who engage in the business. Commercial sex as a business provides one of the easiest forms of employment in the sense that, one only need to provide a few minutes of pleasure to the buyer to earn some money (The Economist, 2013). However, the payment within the business often vary and is influenced by a number of reasons that include the nature of pleasure and risks exposed to the seller.

There are sellers who earn meagre amounts from the business while others make millions from the same business. Commercial sex is competitive, and the seller needs to come up with appropriate business