New Research Shows Men Will Spend More on Engagement Rings Where Fewer Women are Available
New research by the University of Minnesota into the buying habits of engagement rings shows men will fork out extra for engagement rings in areas where women are few and far between. Students at the University quizzed more than 600 people, who said on average they would pay an extra $278 for an engagement ring after they were told about the scarcity of women on the campus. The students concluded that this research demonstrated how sex ratios influences human decision and purchasing processes. More research showed that in cities where there was more men than women. Men increased their credit card debt by a whopping 84% and slashed their savings rate by 42% - probadle to buy expensive diamond engagement rings for the women.