The deadweight loss of Christmas: reply

Article Abstract:

Joel Waldfogel, John A. List and Jason F. Shogren add to the literature regarding the material value of a Christmas gift to one class of individuals, namely, students. List and Shogren attempted to improve on the way to measure t he recipient's valuation of a gift by using actual selling prices. This confirms earlier findings that gifts are worth more to the recipient than their dollar cost to the giver even after excluding their sentimental value.

Research

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The deadweight loss of Christmas: comment

Article Abstract:

The deadweight loss from gift-giving during the Christmas season is investigated. Data from a survey conducted at the Harvard School of Public Health in early Jan. 1994 are analyzed. Results show that most gifts created positive value rather than a deadweight loss. This suggests that a gift is commonly valued higher than its price. The deadweight loss of Christmas would thus not be as large as previously perceived.

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The deadweight loss of Christmas: reply

Article Abstract:

Gift-giving during the Christmas season triggers deadweight loss, a phenomenon where objects received as gifts are valued by recipients at less than the prices paid for the items. The gift with lower material value causes deadweight loss. Although gifts are valuable to individuals, other gifts with the same sentimental value and greater material value are considered more valuable.

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