In somewhat unexpected ways, our opinion of a present can depend on whether the gift wrapping is sloppy or neat.
Looking at the numbers from the National Retail Federation, we do not see the value of the unwanted gifts that might be subtracted from holiday spending.
Although you’ll see that the Amazon reviews for How to Avoid Huge Ships are hilarious, it’s still one of those unwanted gifts that creates deadweight loss.
When gifts are worth less to the recipient than the giver, the economy experiences deadweight loss and an “orgy of value destruction.”
An economic phenomenon, getting married creates dollar dilemmas for friends that some wedding gift economics can help to solve.
Our everyday economics includes externalities, supply and demand, price maker, monopolistic competition, oligopoly, statistics, money supply & innovation.
At the BAHFest, evolutionary researchers present bogus theories that are funny but also display how we can be convinced by misleading statistics.
Can doing good be bad? At food banks, the holiday season brings an avalanche of food from donors when the charity could purchase the food more cheaply and use volunteer time more wisely. As a result, charitable food donations misallocate…
With the holiday season beginning, we should consider the economics of gift giving. Let’s start with University of Pennsylvania Professor Joel Waldfogel who focused on receiving gifts. Then, through Duke’s Dan Ariely, we can look at how to give the…
According to Wharton School economist Joel Waldfogel, we might be better off if we stop gift giving. Dr. Waldfogel says that all too often, the value of the gift to the recipient is less than the price the giver paid.…