Street prostitution's economics resemble any competitive, seasonal labor market

Levitt and Dubner analyze historical data on street prostitution, drawing on records and interviews to argue that the profession functions according to ordinary market principles: prices respond to supply and demand shifts, competition from the sexual revolution and greater premarital sexual availability lowered relative prices over the twentieth century, and workers face predictable tradeoffs around risk, negotiating power, and the value of intermediaries such as pimps, who despite the exploitative framing common in public discourse, statistically increased earnings for some workers by providing protection and negotiating leverage comparable to a real estate agent's fee. The authors do not minimize the danger or coercion present in parts of this industry but argue that applying standard economic tools like pricing and cost-benefit analysis, rather than moral narrative alone, reveals patterns and incentives useful for understanding and potentially improving conditions within a market that persists regardless of its legal status. Takeaway: even stigmatized markets follow recognizable economic logic that's worth studying, not just moralizing about.