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Consumer Evaluation of Money as a Gift: A Two-Utility Model and an Empirical Test

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  • Pieters, Rik
  • Robben, Henry

Abstract

The authors propose a model of gift evaluation by consumers, which specifies that the total value or utility of a gift transaction is an additive and a multiplicative function of the acquisition utility and exchange utility of the gift. They apply the model to the evaluation of money as a gift, and the authors offer the results of two initial experiments to test some of its predictions. The results underline the important role of the resource and normative functions of exchange utility in consumer evaluation of money as a gift. Implications of the results for gift-giving theory are formulated. Copyright 1999 by WWZ and Helbing & Lichtenhahn Verlag AG

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Kyklos.

Volume (Year): 52 (1999)
Issue (Month): 2 ()
Pages: 173-200

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Handle: RePEc:bla:kyklos:v:52:y:1999:i:2:p:173-200

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Cited by:
  1. Wärneryd, Karl-Erik, 2008. "The psychological underpinnings of economics: Economic psychology according to Gabriel Tarde," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(5), pages 1685-1702, October.
  2. Panayotis G. Michaelides & Kostas Theologou, 2010. "Tarde's influence on Schumpeter: technology and social evolution," International Journal of Social Economics, Emerald Group Publishing, vol. 37(5), pages 361-373, May.
  3. Kaplan, Todd R. & Ruffle, Bradley J., 2009. "In search of welfare-improving gifts," European Economic Review, Elsevier, vol. 53(4), pages 445-460, May.

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