Christmas was less than a month ago and it may be too soon to think about what presents you should purchase for friends and family during the next holiday season. But over the course of the year, there will be birthdays, anniversaries and other events that will require you to produce gifts. Why not give people things that they value?
Some gifts are more efficient than others, meaning that the recipients value the gift much more than the actual market price would suggest. As indicated by the Wall Street Journal, the best example of this is travel. According to an article published in the Journal of Socio-Economics, gifts involving travel are valued by recipients at a level fifty eight percent above market price.
People also likely jewelry, which receives a value fourteen percent above market price. The worst gift is pets. People receiving pets value them at only sixty seven percent of market price. Tools are not much better – seventy two percent. Book and clothes are also inefficient.
Who are the best gift givers – the people who supply gifts that are most highly valued by recipients relative to market price – that would be children followed by colleagues and boyfriends. Who are the least efficient gift givers? Girlfriends. In-laws, aunts and uncles aren’t much better.
