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


  • Pieters, Rik
  • Robben, Henry


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

Suggested Citation

  • Pieters, Rik & Robben, Henry, 1999. "Consumer Evaluation of Money as a Gift: A Two-Utility Model and an Empirical Test," Kyklos, Wiley Blackwell, vol. 52(2), pages 173-200.
  • Handle: RePEc:bla:kyklos:v:52:y:1999:i:2:p:173-200

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    References listed on IDEAS

    1. Brander, James A & Dowrick, Steve, 1994. "The Role of Fertility and Population in Economic Growth: Empirical Results from Aggregate Cross-National Data," Journal of Population Economics, Springer;European Society for Population Economics, vol. 7(1), pages 1-25.
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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, 2010. "Tarde's influence on Schumpeter: technology and social evolution," International Journal of Social Economics, Emerald Group Publishing, vol. 37(5), pages 361-373, April.
    3. Christiane Bradler & Susanne Neckermann, 2016. "The Magic of the Personal Touch: Field Experimental Evidence on Money and Appreciation as Gifts," Tinbergen Institute Discussion Papers 16-045/VII, Tinbergen Institute.
    4. Kaplan, Todd R. & Ruffle, Bradley J., 2009. "In search of welfare-improving gifts," European Economic Review, Elsevier, vol. 53(4), pages 445-460, May.
    5. Michaelides, Panayotis G. & Theologou, Kostas, 2009. "Joseph Schumpeter and Gabriel Tarde on Technological Change and Social Evolution," MPRA Paper 67189, University Library of Munich, Germany.
    6. Bradler, Christiane & Neckermann, Susanne, 2016. "The magic of the personal touch: Field experimental evidence on money appreciation as gifts," ZEW Discussion Papers 16-043, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

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