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December 2011 Blog Posts (1)
THE DEADWEIGHT LOSS OF CHRISTMAS (By Joel Waldfogel. Yale University)
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.…
ContinueAdded by Román Culebro Martínez on December 22, 2011 at 12:00pm — No Comments
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