Most “economists in the University of Chicago’s IGM poll said it’s absurd to give cash to loved ones for the holidays”. Here is how David Autor of MIT put it.
Presents serve multiple interpersonal purposes. Revealed preference indicates that income transfer is not the primary one.
Lovely thought. And here’s a Christmas card with the University of Chicago’s Steven Kaplan’s views on the matter.
All comments can be viewed at the IGM website. Even with economists, it’s not all about the money.
Have a merry Christmas!