Economicshaslongbeenknownasanunpleasantscience.ButisanyeconomistsodullastocriticizeChristmas?AtfirstglancetheholidayseasoninwesterneconomiesseemsatreatforthosewhoareconcernedwithsuchthingsasGDPgrowth.Afteralleveryoneisspending;inAmericasellersmake25%oftheiryearlysalesand60%oftheirprofitsbetweenThanksgivingandChristmas.Evensoeconomistsfindsomethingtoworryaboutinthenatureofthepurchasesbeingmade.
Muchoftheholidayspendingisongiftsforothers.Atthesimplestlevelgivinggiftsinvolvesthegiver'sthinkingofsomethingthatthereceiverwouldlike—hetriestoguessherpreferencesaseconomistssay—andthenbuyingthegiftanddeliveringit.Yetthisguessingofpreferencesisoftendonebadly.Everyyeartiesgounwornandbooksunread.Andevenifagiftisenjoyeditmaynotbewhatthereceiverwouldhaveboughtiftheyhadspentthemoneythemselves.
Interestedinthismismatchbetweenwantsandgiftsin1993JoelWaldfogelthenaneconomistatYaleUniversityattemptedtoestimatethedisparity(差距)indollarterms.Heaskedstudentstwoquestionsattheendofaholidayseason:firstestimatethetotalamountpaid(bythegivers)foralltheholidaygiftsyoureceived;secondapartfromtheemotionalvalueoftheitemsifyoudidnothavethemhowmuchwouldyoubewillingtopaytogetthem?Hisresultswereunpleasant:onaverageagiftwasvaluedbythereceiverwellbelowthepricepaidbythegiver.
Themostconservative(保守的)estimateputtheaveragereceiver’svaluationat90%ofthebuyingprice.Themissing10%iswhateconomistscalladeadweightloss;awasteofresourcesthatcouldbeavoidedwithoutmakinganyonepoorer.Inotherwordsifthegivergavethecashvalueofthepurchaseinsteadofthegiftitselfthereceivercouldthenbuywhatshereallywantsandbebetterofffornoextracost.ItsuggeststhatinAmericawheregiversspend$40billiononChristmasgifts$4billionisbeinglostannuallyintheprocessofgiftgiving.AddinbirthdaysweddingsandnonChristianoccasionsandthefigurewouldballoon.Soshouldeconomistscallforanendtogiftgivingoratleastpressformoneytobecomethegiftofchoice?
1.Whydosomepeopleregardtheholidayseasoninwesterneconomiesatreat?
A.Becausethee
