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Holiday gift-giving - is there a deadweight loss or a welfare gain?

Author

Listed:
  • Zeev Shtudiner

    (Ariel University)

Abstract

For macro-economists, the importance of holiday gift-giving is the effect of spending on the macro economy. However, for micro-economists, gift-giving has a different important aspect. The choices of purchasing are made by someone other than the recipient, the final consumer. Recipients sometimes receive gifts they do not like because the giver does not really know with any degree of accuracy the recipients' preferences. Such gifts are welfare reducing (deadweight loss) compared to giving cash. The cost of the gift is higher than its value to the recipient. In this study, we examine whether purchasing holiday gifts in Israel leads to welfare gains or deadweight losses. We also explored how the relationship type (family, social, workplace) affects the difference between the costs and values of gifts.

Suggested Citation

  • Zeev Shtudiner, 2019. "Holiday gift-giving - is there a deadweight loss or a welfare gain?," Proceedings of International Academic Conferences 8711256, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iacpro:8711256
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    File URL: https://iises.net/proceedings/iises-international-academic-conference-copenhagen/table-of-content/detail?cid=87&iid=047&rid=11256
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    More about this item

    Keywords

    Deadweight loss; Gift giving; Market failure;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values

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