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Effects Of Beauty On The Labor Market Essay

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It has become increasing clear that beauty may play a role when it comes to social interactions involved in economic or political opportunities. Now, one may ask how beauty could possibly play a noticeable impact on situations concerning economic or political opportunities. Yet, it does. A laboratory experiment was conducted to fully study the impact of “beauty premium”, the positive association and relationship between attractiveness and wages, on economic success in the labor market. The experiment was conducted by Tatyana Deryugina, a professor of finance and her companions. Although illegal, labor market discrimination has occurred based on physical appearances and Tatyana wanted to test this notion. Deriving from this experiment, they were able to conclude that the beauty premium does indeed exist although only in certain circumstances. Only in tasks such as bargaining does beauty premium significantly show a positive correlation. In other tasks such as analysis or data entry, the notion of beauty premium does not exist. They state, “we find that the beauty premium in bargaining completely vanishes in the second round of bidding when the task is repeated, which suggests that employers learn quickly that performance is uncorrelated with attractiveness” (Deryugina 2015). The point is that physical beauty is what deceives the mind into thinking that the more attractive one is, the more competent they may be in performing and executing skills such as bargaining.
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