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Gift Giving

by James Tierney

Gift Giving is a hot topic around the holiday season for economists and psychologists alike. On the economics side, there are many discussions about the downsides of gift giving. The main argument is that it would be more efficient for the receiver of the gift to just get cash so they can make sure they buy what they truly want. The worst-case scenario is the receiver to get a gift they value at a lower price than what was paid. This leads to what economists define as deadweight loss. This clip is a great lead in to talking about gift giving.

Gift Giving -- Blackish

The Johnson family is sitting around the Christmas tree opening gifts. The children are not appreciative of the gifts because it's not what they wanted. One of the children, Junior, wonders why he got a gift card.

from Blackish (2015)
Creator: ABC Studios
Posted by James Tierney