Monday, December 23, 2013

Christmas economics

Way back in 1993 Joel Waldfogel argued that from a tenth to a third of annual christmas presents is nothing much, but a deadweight loss. We usually regard Christmas to be a good thing, economically - stimulated consumption, stimulated economic growth. Yet some people are just bad at picking the right gift. Hence the deadweight loss (Christmas mathematics and the rest of the paper here - Waldfogel likes curious topics. This is him on RePEc -

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