How economics and game theory explain the shortage of available, appealing men.

It is a truth universally acknowledged that the available, sociable, and genuinely attractive man is a character highly in demand in social settings. Dinner hosts are always looking for the man who fits all the criteria. When they don't find him (often), they throw up their hands and settle for the sociable but unattractive, the attractive but unsociable, and, as a last resort, for the merely available.

The problem of the eligible bachelor is one of the great riddles of social life. Shouldn't there be about as many highly eligible and appealing men as there are attractive, eligible women?

Actually, no—and here's why.

game theory predicts, and empirical studies of auctions bear out, that auctions will often be won by "weak" bidders, who know that they can be outbid and so bid more aggressively, while the "strong" bidders will hold out for a really great deal.