

The psychological economics of gift giving
Dec 19, 2021
Holiday gift-giving often leads to wasted money on unwanted presents. Dive into the whimsical economics of classic holiday songs and their hidden costs. Behavioral scientist Francesca Gino shares insights on the disconnect between what givers think is thoughtful and what recipients truly want. Discover how experiences can be more appreciated than material items, revealing the psychological nuances behind a gift’s value. This deep look into consumer behavior uncovers ways to enhance holiday joy for everyone.
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Gift-Giving Goals
- Consider the recipient's happiness when choosing a gift.
- Strive for thoughtfulness and memorability to strengthen your relationship.
Surprise vs. Wish List
- Givers often overestimate their ability to choose the perfect surprise gift.
- They wrongly assume unsolicited gifts are more thoughtful than those on a wish list.
Ask and You Shall Receive
- Give people what they want, even if it means asking them directly.
- Thoughtfulness is better expressed through fulfilling wishes than surprising.