See You’re Choosing a Gift. Here’s What Not to Do: Many of our natural impulses turn out to be wrong. Psychological research can help us choose wisely. By Daniel T. Willingham, is a psychologist at the University of Virginia. Excerpts:
"When researchers asked people to recall a gift they . . . had received, price was completely unrelated to enjoyment."
"Givers might favor the beautiful and dramatic because they think about gifts in the abstract: “What’s a good gift?” Recipients, in contrast, imagine themselves using it, and so focus more on utility.
That’s why people buying gift cards for others often prefer luxury brands over everyday brands, but the preference reverses when they are buying for themselves. Indeed, a study examined the prices that resold gift cards commanded on eBay, and showed that people were willing to pay around $77 for a $100 gift card to a more expensive store (for example, Bloomingdale’s), but would pay around $89 for a $100 gift card to an everyday establishment (for example, Lowe’s)."
"Givers didn’t like the idea of giving someone half the money to buy a high-end blender, preferring to give a medium-priced model outright. Recipients showed the opposite preference."
"give people what they ask for. Gift givers think that unexpectedness adds value because it shows thoughtfulness; the wife wasn’t expecting diamonds, but the husband knew she’d love them. But recipients actually think it’s more thoughtful to give a gift that they requested. They see it as showing that the giver attended to and honored their wishes."
"give experiences, not things."
"people don’t mind waiting. Research over the last decade shows that experiences lead to more long-lasting satisfaction than new possessions: A family vacation is a better bet than that diamond necklace."
"Make sure there are choices. Instead of giving a massage, give a gift certificate to a spa that offers a range of services."
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Conflicting opinions from economists on the value of giving gifts
2 comments:
giving money on the Dilbert comic is accurate to me. If people are going to trade money they may as well just offset each other. if my sister is going to give me $50 and I'm going to give her $100, then I may as well give her $50.
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