Economists Do It With Models

Entitled Scroogenomics and explaining how gifts are not efficient transfers of value, I figured this was appropriate for Black Friday, and I sincerely hope that you are not reading this on your phone while waiting in line to save $12 on a flat-screen TV.  Or you could go to the source- Joel Waldfogel’s paper entitled “The Deadweight Loss of Christmas.”  As usual, I will implore you to ponder these concepts before purchasing that crystal cat figurine for someone you supposedly like, and, as usual, you will most likely continue to ignore my advice.