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Gifts, Cash, and Stigma

Author

Listed:
  • Joel Waldfogel

    (Department of Business and Public Policy, Wharton School, University of Pennsylvania, Philadelphia, PA 19104-6372.)

Abstract

Each year individuals in the United States transfer between $50 and $72 billion in resources in the form of noncash holiday gifts, despite the fact that holiday gift recipients apparently value their noncash gifts at about 10% less than the prices paid by the givers. We document that cash giving is more likely from givers who tend to give unwanted gifts, indicating that givers are concerned with the utility of their recipients. The rarity of cash gifts can be rationalized by a stigma of cash giving that we are able to parameterize and estimate using a simple structural model. Copyright 2002, Oxford University Press.

Suggested Citation

  • Joel Waldfogel, 2002. "Gifts, Cash, and Stigma," Economic Inquiry, Western Economic Association International, vol. 40(3), pages 415-427, July.
    • Handle: RePEc:oup:ecinqu:v:40:y:2002:i:3:p:415-427
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    Cited by:

    1. Zhang, Qinhong & Zhang, Dali & Segerstedt, Anders & Luo, Jianwen, 2018. "Optimal ordering and pricing decisions for a company issuing product-specific gift cards," Omega, Elsevier, vol. 74(C), pages 92-102.
    2. Alexander L. Brown & Jonathan Meer & J. Forrest Williams, 2019. "Why Do People Volunteer? An Experimental Analysis of Preferences for Time Donations," Management Science, INFORMS, vol. 65(4), pages 1455-1468, April.
    3. Monique M H Pollmann & Ilja van Beest, 2013. "Women Are Better at Selecting Gifts than Men," PLOS ONE, Public Library of Science, vol. 8(12), pages 1-6, December.
    4. Khouja, Moutaz & Pan, Jingming & Zhou, Jing, 2016. "Effects of gift cards on optimal order and discount of seasonal products," European Journal of Operational Research, Elsevier, vol. 248(1), pages 159-173.
    5. Principe, Kristine E. & Eisenhauer, Joseph G., 2009. "Gift-giving and deadweight loss," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(2), pages 215-220, March.
    6. Kaplan, Todd R. & Ruffle, Bradley J., 2009. "In search of welfare-improving gifts," European Economic Review, Elsevier, vol. 53(4), pages 445-460, May.
    7. Chen, Xi, 2011. "Accounting for social spending escalation in rural China," IAMO Forum 2011: Will the "BRICs Decade" Continue? – Prospects for Trade and Growth 6, Leibniz Institute of Agricultural Development in Central and Eastern Europe (IAMO).
    8. Shibly, Sirajul A. & Chatterjee, Subimal, 2020. "Surprise rewards and brand evaluations: The role of intrinsic motivation and reward format," Journal of Business Research, Elsevier, vol. 113(C), pages 39-48.
    9. Vic Benuyenah, 2021. "Face-saving and Seasonal Gifts: Analysis of Cultural Exchanges in the Confucian Market Place," International Review of Management and Marketing, Econjournals, vol. 11(2), pages 59-66.
    10. Monique M. H. Pollmann & Ilja van Beest, 2013. "Women are Better at Selecting Gifts than Men," Working Papers id:5614, eSocialSciences.
    11. Huang, Wei & Rhee, S. Ghon & Suzuki, Katsushi & Yasutake, Taeko, 2022. "Do investors value shareholder perks? Evidence from Japan," Journal of Banking & Finance, Elsevier, vol. 143(C).
    12. Birg, Laura & Pommeranz, Simon, 2018. "The deadweight loss of christmas - Reply," University of Göttingen Working Papers in Economics 361, University of Goettingen, Department of Economics.
    13. David R. Mandel, 2006. "Economic Transactions among Friends," Journal of Conflict Resolution, Peace Science Society (International), vol. 50(4), pages 584-606, August.

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