Gift giving is challenging because givers often focus only on the moment of the gift exchange, neglecting how the recipient will use or appreciate the gift in the long term. This short-term thinking leads to frequent mismatches and dissatisfaction.
52% of Americans surveyed admit to getting at least one unwanted gift over the holidays, though this number is likely an underestimate.
The top three least favorite gifts are flowers and plants, beauty products, and liquor or drinks.
Gift givers perceive repeating a gift as less thoughtful and more boring, even though recipients often prefer receiving the same gift again if they liked it the first time.
Deadweight loss refers to the gap between what a gift costs the giver and how much the recipient values it. For example, if a $100 sweater is valued at only $10 by the recipient, the deadweight loss is $90.
Cash is preferred by some because it eliminates the risk of mismatch and deadweight loss, ensuring the recipient can use the money exactly as they wish.
The legal limit for tipping a mailman in the U.S. is $20.
A well-chosen gift can significantly enhance the emotional calculus of a relationship, making both the giver and recipient feel more connected and appreciated.
The best way to grow a podcast audience is through word of mouth. Listeners should recommend the show to friends and family and leave ratings or reviews on podcast apps.
How many bottles of wine are regifted? What’s wrong with giving cash? And should Angela give her husband a subscription to the Sausage of the Month Club?
SOURCES:
Joel Waldfogel), professor of strategic management & entrepreneurship at the University of Minnesota.
RESOURCES:
“How to Become a Truly Excellent Gift Giver),” by Eliza Brooke (*Vox, *2022).
“How to Calculate a Holiday Tip for the Doorman),” by Ronda Kaysen (*The New York Times, *2022).
“Least Favorite Gifts to Receive for Christmas in the United States in 2022, by Generation),” (Statista, 2022).
“(Not) Giving the Same Old Song and Dance: Givers’ Misguided Concerns About Thoughtfulness and Boringness Keep Them From Repeating Gifts),” by Julian Givi (*Journal of Business Research, *2020).
“Does Anyone Really Buy the Giant Car Bows You See in Every Commercial?)” by Aditi Shrikant (*Vox, *2018).
“It’s the Motive That Counts: Perceived Sacrifice Motives and Gratitude in Romantic Relationships),” by Mariko L. Visserman, Francesca Righetti, Emily A. Impett, Dacher Keltner, and Paul A. M. Van Lange (*Emotion, *2018).
“Why Certain Gifts Are Great to Give but Not to Get: A Framework for Understanding Errors in Gift Giving),” by Jeff Galak, Julian Givi, and Elanor F. Williams (*Current Directions in Psychological Science, *2016).
“The Girl Who Gets Gifts From Birds),” by Katy Sewall (*B.B.C. News, *2015).
“The Disappointing Gift: Dispositional and Situational Moderators of Emotional Expressions),” by Renée M. Tobin and William G. Graziano (Journal of Experimental Child Psychology, 2011).
Scroogenomics: Why You Shouldn’t Buy Presents for the Holidays)*, *by Joel Waldfogel (2009).
“The Deadweight Loss of Christmas),” by Joel Waldfogel (*The American Economic Review, *1993).
United States Postal Service Employee Tipping and Gift-Receiving Policy).
EXTRAS:
“Have a Very Homo Economicus Christmas),” by *Freakonomics Radio *(2012).