Ok, I have to post this.

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Beauty and the Beast - an Economist's Abridged Version

Once upon a time there was a merchant who had three daughters. The two older daughters were beautiful, but disagreeable. The youngest was the most beautiful, very loving and kind. Her name was Beauty. One day, just before departing on a business trip to maximize profit, the merchant asked his daughters what gifts they wanted him to bring back. The older daughters asked for highly priced silks, satins and jewelry. But Beauty, wouldn't you know, just wanted a simple rose.

Entrepreneurs always face uncertainty, and the merchant soon discovered that his trip was a total loss. He could not even afford to buy the promised gifts. On his way home, riding through a giant forest, he got caught in a miserable blizzard. He wandered aimlessly on his horse, looking for shleter, and suddenly came upon a sun-drenched opening in the forest that had at its center a great palace surrounded by beautiful flowers. The palace appeared deserted. The merchant went in, warmed himself by a blazing fire, ate a splendidly prepared meal, and later went upstairs to sleep in an inviting, soft bed.

The next morning he left for home. As he rode among the flowers, he saw the loveliest rose, and remembering Beauty, plucked it from its bed. At that very moment, a terrifying Beast appeared, whose booming voice shook the earth, the horse, and the merchant. "Wretched person," the Beast yelled, "who gave you leave to pick my roses?"

The merchant pleaded forgiveness and explained the circumstances. But the Beast was unmoved. "Last night I granted you all your wishes, and look how you repay me!" cried the Beast. "By right I should kill you now. Instead, take the rose home and give it to whichever daughter loves you enough to come back here alone. If no one comes, I will kill you."

Upon returning, the merchant, with much weeping, told the story. Beauty, of course, wanted to go for her father's sake - attaching more utility to his life than the negative utility involved in going to the Beast - but the merchant loved her too much and refused her offer. That night, Beauty stole away on the merchant's horse.

When Beauty first saw the Beast, she was absolutely horrified. Negative utility skyrocketed! But when the Beast spoke to her, she heard a gentleness in his gruff voice that touched her. He told her that everything he had was there for her pleasure. "The only thing I shall ever ask of you," he said, "is to try to love me." She pitied him, but could not love him. For days thereafter, the negative utility vanished and the total utility Beauty gained from her new life grew. And eveery day, the Beast would ask, "Can you love me?" She grew increasingly fond of him, and actually gained considerable utility from his companionship, but could not love him.

One day the Beast saw that Beauty was sad. He knew that the total utility Beauty received was well below the opportunity cost incurred by not being with her father. He suggested a three-day visit home. He revealed his own set of utilities by saying, "If you stay longer than three days, I shall die of loneliness." She promised to return, and before she left, the Beast gave Beauty a magical ring that she was to keep by her bed. With that ring, she would wake in the morning wherever she wanted to be.

Her visit was joyous, but her sisters, consumed by envy, persuaded Beauty to stay an extra night. That night, in a dream, she heard the Beast sob, "Beauty, you broke your promise and I am dying of loneliness." She awoke, held the ring tightly, and wished to be once more with the Beast.

And just in time! She found him lying in a bed of roses. The Beast whispered, "Beauty, I'm dying." "Oh, no," she cried, "you mustn't. I've returned because I love you."

With those words spoken, the Beast changed form and became a young, handsome prince! Beauty was shocked! "Wow," she thought, "I was prepared to spend the rest of my life with the Beast because the utility I gain from being with him is at least equal to the opportunity cost I incur not being with my father." "Gosh," she said, gazing into the eyes of her prince, "just look at my consumer surplus now!"