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When economists comment on holiday gift-giving, it is usually to condone the healthy effect of spending on the macroeconomy. However, an important feature of gift-giving is that consumption choices are made by someone other than the final consumer. A pontentially important microeconomic aspect of gift-giving is that gifts may be mismatched with the recipients´ preferences. This paper gives estimates of the deadweight loss of holiday gift-giving based on surveys given to Yale undergraduates.…Continue
Posted by Román Culebro Martínez on December 22, 2016 at 4:31pm
This paper presents analysis on the determinants of past Olympic Games performance and uses this to produce some benchmarks against which performance at the 2016 Olympics Games can be judged. This updates similar analysis we produced around the time of the 2000, 2004, 2008 and 2012 Olympic Games. The following factors were found to be statistically significant in explaining the number of medals won by each country at…Continue
Posted by Román Culebro Martínez on August 5, 2016 at 3:06pm