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6min chapter
The Company That Cancelled Christmas
Cautionary Tales with Tim Harford
Christmas Gifts - The Perfect Gift
Gifts we usually buy are much less successful. A gift that costs twenty dollars is worth only about seventeen dollars to the recipient on average. Joel Waldfogel didn't want to settle for hypothetical examples, he wanted data. And what he found was, well it was kind of obvious and kind of sacrilegious all at the same time. Most people cast in the role of Scrooge, someone who just doesn't understand the true spirit of Christmas.
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