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.