The deadweight loss of christmas - Reply

Laura Birg and Simon Pommeranz

No 361, University of Göttingen Working Papers in Economics from University of Goettingen, Department of Economics

Abstract: In this paper, we study the welfare effects of Christmas presents with a focus on the effect of presents for gift-givers. Based on a survey among students at the University of Göttingen, Germany, we find that the vast majority of gift-givers prefers in-kind gifts compared to gifts of money. The average present in our survey has a price of 36 Euro and results in a "giver's surplus" of 10 Euro. This indicates a welfare gain of approximately 143% from the average giver's perspective. The welfare gain for presents to friends and partners is lower than for presents to close family members. Our empirical analysis shows a negative effect of a present's price on the welfare gain for gift-givers.

Keywords: presents; gift-giving; Christmas; welfare (search for similar items in EconPapers)
JEL-codes: D61 D64 H42 Z1 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:cegedp:361

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