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” This is an interesting question because we observe surprising few mixed race marriages in the census data and finding out why is informative (we will definitely return to the question of same-race preference in a future post).The problem with this approach is that people either lack self-awareness or tend to not to be very honest in their answers.This doesn’t just apply to the question of race but about other characteristics as well.An economist could look instead at people who are already married and try to determine their preferences that way, but this doesn’t work very well either. Suppose I have evidence that women with breasts that are smaller than average are more often married to men who are below average height.
Does this information tell us that small-breasted women prefer shorter men? One possible alternative is that all women prefer taller men and that taller men prefer large-breasted women.
If this was the case, then at the close of the market smaller-breasted women only have an option to choose shorter men.