RE/MAX 440
Home My Listings View Area Listings Inside Tours About Me Contact Login Helpful Links Mortgage Info Community Info School Info Tom's Blog Buying Selling Financing Glossary Home Ownership Testimonials

Thomas Skiffington,  CRS, GRI, CRB, ABR, ePro, CLHMS, SRES, RECS, CDPE, ECOBROKER
Thomas Skiffington, CRS, GRI, CRB, ABR, ePro, CLHMS, SRES, RECS, CDPE, ECOBROKER
701 W. Market Street
Perkasie, PA 18944
Phone: 215-453-7883
Office Phone: 215-453-7653
Toll Free: 800-440-remax
Fax: 267-354-6800
email: tom@tomskiffington.com
TwitterFacebookGoogleLinkedinYoutubePlaxo

< Back to Tom's Blog

The Psychology of Holiday Gift-Giving

December 7, 2017 1:42 am

There's no arguing that deciding what gift to give someone can be a bit of a brain workout, especially if that loved one is someone you see infrequently. A recent study from Carnegie Mellon University fused economics and psychology to determine how we locate the "perfect gift." Here are four science-backed tips to help during the holiday shopping season.

Avoid Guessing. Projection bias is a phenomenon that describes how people believe others hold the same beliefs and values as they do—and will in the future. When gift giving, shoppers often try to predict what the recipient would like, thinking recipients will share their same tastes.

"If you like dark chocolate and loath milk chocolate, it's very tempting to give dark chocolate, even if the gift recipient's tastes are opposite to yours; it's very difficult to imagine that another person would enjoy receiving a gift that you would hate," says George Loewenstein, the Herbert A. Simon University Professor of Economics and Psychology in the Dietrich College of Humanities and Social Sciences and co-founder of the field of behavioral economics.

Be Aware of Your Shopping Environment. Kareem Haggag, assistant professor of economics in the Social and Decision Sciences Department, studies attribution bias, and his work shows that the past experiences of gift-givers will influence their opinion of a product.

He advised gift givers to be careful and think about past experiences with an item they are considering purchasing.

Consider Whether Past Holidays Are an Influence. If you were not thanked by a recipient in the past, you may be less likely to put time and effort into gift-giving for that person in the future, according to Shereen J. Chaudhry (DC'13, '16).

Chaudhry says that words of thanks are more than "cheap talk" and help keep relationships healthy.

Focus on the Long-Term. Researchers led by the Tepper School of Business' Jeff Galak found that gift givers tend to focus on the moment of exchange when selecting a gift, whereas gift recipients are more focused on the long-term utility or practical attributes of the gift.

Source: Carnegie Mellon University

Published with permission from RISMedia.

Add a comment





Learn more about Philadelphia County, Doylestown, Northampton County, Hilltown, Montgomery County, Ottsville, Chester County and Richlandtown and search all the real estate listings in the Perkasie area MLS. We have packed our site with tons of information about Revere, Hilltown, Ottsville, Doylestown, Perkasie Real Estate and Northampton County Real Estate plus what you need to know about buying and selling a home or condo. I offer full a full range of professional real estate services. On this Perkasie real estate site find Perkasie In Town and Suburban Properties, Land, Lots, Perkasie Golf Homes for Sale, Luxury Estates, Town Homes, Perkasie New Homes for Sale, Perkasie Condos, Town Homes, Real Estate, Perkasie Luxury Estates, Equestrian Estates and Perkasie Executive Homes For Sale. Search for Homes for Sale in Perkasie. You can also Search for Homes for Sale in Lehigh County and it's surrounding counties. Lehigh Valley Real estate ad Lehigh Valley homes or properties for sale.

Tom Skiffington - RE/MAX 440 - PERKASIE

Franconia Pennsylvania real estate, Line Lexington Pennsylvania, Hilltown Pennsylvania, Revere PA properties, Trumbauersville PA properties, Gardenville PA, Kulpsville PA, Erwinna Pennsylvania homes for sale, Philadelphia County PA, Northampton County properties, Bucks County PA real estate, Blooming Glen Pennsylvania, Perkasie PA, Kintnersville properties, Richlandtown real estate, Mainland Pennsylvania, Bedminster PA, Montgomery County Pennsylvania properties, Hatfield PA homes for sale, Chester County Pennsylvania, Pipersville PA, Dublin Pennsylvania properties, Fountainville real estate, Upper Black Eddy properties, Plumsteadville properties, Souderton properties, Danboro Pennsylvania, Quakertown properties, Jamison Pennsylvania properties, Doylestown Pennsylvania real estate, Chalfont PA, Ottsville real estate, Sellersville homes for sale, Earlington PA homes for sale, Ferndale PA homes for sale, Colmar real estate, Lehigh County Pennsylvania real estate, Silverdale real estate, Tylersport PA homes for sale, Warrington PA homes for sale, Telford Pennsylvania properties