February 04, 2021

Gift Giving

A series of interesting journal article abstracts from Rolf Degen on the behavioral economics of gift-giving:

Just saying “have a nice day” to a stranger helped people have a nicer day themselves.
Gift-givers are often too much focussed on the moment of the gift handover to achieve the optimal impact.
More sloppily wrapped gifts can make for happier recipients.
Gift-givers fail to anticipate that receivers would appreciate even partial gifts wholeheartedly.
Small gifts do markedly lubricate business relationships.
Compliments and individual expressions of appreciation achieve greater net reciprocal benefits than monetary gifts.
Small gifts do actually serve as “oil” to lubricate business negotiations
Compliments and individual expressions of appreciation achieve greater net reciprocal benefits than monetary gifts.
People often fail to give gifts that achieve endurable satisfaction because they are so zealous to induce an enthusiastic instant smile.
Experiential gifts bolstered relationships more strongly than material ones.
Motivated gifts, which are given away with the hope of getting support in return, backfire, making recipients less likely to provide help.