During the holiday season, our gift giving might have less value than we expect because recipients engage in preference falsification.
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.
Our everyday economics includes externalities, supply and demand, price maker, monopolistic competition, oligopoly, statistics, money supply & innovation.