Life Style Features
In 1993, Joel Waldfogel, a Yale University professor, challenged the traditional notion of Christmas gifts in a paper titled "The deadweight loss of Christmas." He argued that gift-giving, while well-intentioned, often resulted in a significant economic loss due to the discrepancy between the value of the gift to the receiver and its actual cost. However, this perspective, rooted in economic efficiency, overlooks the deeper social and emotional significance of gift-giving during the holiday season.......