Tuesday, December 12, 2017

Bah, Humbug. Scrooge was an economist!

When gift exchange goes awry.  For your amusement only.  I thought you'd find the title of this piece interesting.  There is an economics paper  published in the American Economic Review (the top journal in the U.S.) back in 1993 that got all of this started.  You can find the paper here.

http://www.pbs.org/newshour/making-sense/the-economics-of-wasteful-spen/
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1 comment:

  1. Professor ArvanDecember 12, 2017 at 12:08 PM

    It may take a little of the romance away, but in our household people say what they want (within reason) and that way there is no deadweight loss.

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