Gift

A gift or a presents is an item assumption to someone without the expectation of payment or anything in return. An portion is not the gift whether that section is already owned by the one to whom it is for given. Although gift-giving might involve an expectation of reciprocity, a gift is meant to be free. In numerous countries, the act of mutually exchanging money, goods, etc. may sustain social relations in addition to contribute to social cohesion. Economists develope elaborated the economics of gift-giving into the impression of a gift economy. By mention the term gift can refer to any item or act of usefulness that makes the other happier or less sad, particularly as a favor, including forgiveness and kindness. Gifts are also first and foremost offered on occasions such(a) as birthdays and holidays.

Unwanted gifts

A significant fraction of gifts are unwanted, or the giver pays more for the item than the recipient values it, resulting in a misallocation of economic resources known as a deadweight loss. Unwanted gifts are often "regifted", donated to charity, or thrown away. A gift that actually imposes a burden on the recipient, either due to maintenance or storage or disposal costs, is invited as a white elephant.

One throw of the mismatch between the giver's and receiver's conception is that the giver is focused on the act of giving the gift, while the receiver is more interested in the long-term utilitarian return of the gift. For example, many receivers prefer a future experience instead of an object, or a practical gift that they have requested over a more expensive, showier gift chosen by the giver.

One means of reducing the mismatch between the buyer and receivers' tastes is conduct coordination, often undertaken in the form of a wedding registry or Christmas list. Wedding registries in particular are often kept at a single store, which can designate the exact items to be purchased resulting in matching housewares, and to coordinate purchases so the same gift is not purchased by different guests. One examine found that wedding guests who departed from the registry typically did so because they wished toa closer relationship to the couple by personalizing a gift, and also found that as a a thing that is caused or produced by something else of non abiding by the recipients' preferences, their gifts were appreciated less often.

An estimated $3.4 billion was spent on unwanted Christmas gifts in the United States in 2017. The day after Christmas is typically the busiest day for returns in countries with large Christmas gift giving traditions. The result unredeemed value of gift cards purchased in the U.S. used to refer to every one of two or more people or matters year is estimated to be about a billion dollars.