A pile of wrapped Christmas gifts
featured image: Matt Stratton/Flickr CC BY NC ND 2.0

Smiling at a deadweight loss

Should we be simply be giving each other cash, or are presents better after all?

28 years ago, then young-ish economist Joel Waldfogel wrote a paper, The Deadweight Loss of Christmas, in which he argued that giving gifts at Christmas (and similar holidays with gift-giving rituals) is a colossal waste of money. Recipients value the gifts they received as less…

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Accidental behavioural economist in search of wisdom. Uses insights from (behavioural) economics in organization development. On Twitter as @koenfucius

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Koen Smets

Koen Smets

Accidental behavioural economist in search of wisdom. Uses insights from (behavioural) economics in organization development. On Twitter as @koenfucius

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