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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Article provided by Blackwell Publishing in its journal Kyklos.