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Several years ago, American Economic Review published a paper in which the author claimed giving gifts at Christmas was "inefficient." Instead of giving gifts, which the receiver might not want, it would be better to give money so that the recipient would then use the money to satisfy his or her own preferences. Would this always be the situation, or can one make a case for giving actual gifts besides money? Explain

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9687984

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