Summary Of Is Santa A Deadweight Loss

The article named “Is Santa a Deadweight Loss?” by The Economist, mentions how the tradition of gift giving bring utility to both givers and receivers, and how brainstorming for gifts can be troublesome for givers, while the receivers hardly think about it. In order to purchase a successful gift, the gift buyer usually tries to guess the receiver's preferences. According to the article, it states this act of brainstorming and guessing preferences are usually done badly, to support, “Every year, ties go unworn and books unread”. However, even if the gift was purchased correctly and the receivers enjoyed the gift, it might not be something that the recipient would spend their money on. Instead of spending many of our time to brainstorm what the