The Demand for Social Approval and Status as a Motivation to Give
AbstractThe aim of this paper is to explain gift giving as due to a demand for social approval and status. In a simple framework we are able to account for a number of stylized facts. These are that gift giving is often reciprocal, that gifts tend to be inadequate, and that gift giving is sometimes reduced after a monetary compensation is offered. The implication for the interaction between gift giving and the market institution is that implementing price incentives in a nonmarket environment can be welfare-decreasing.
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.
Volume (Year): 158 (2002)
Issue (Month): 3 (September)
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Find related papers by JEL classification:
- A10 - General Economics and Teaching - - General Economics - - - General
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- D10 - Microeconomics - - Household Behavior - - - General
- D60 - Microeconomics - - Welfare Economics - - - General
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