O Natal cria ineficiências?

Neste artigo do Economist discute-se quão ineficiente a troca de prendas natalícia pode ser. Citando um estudo de 1993:

The most conservative estimate put the average receiver's valuation at 90% of the buying price. The missing 10% is what economists call a deadweight loss: a waste of resources that could be averted without making anyone worse off. In other words, if the giver gave the cash value of the purchase instead of the gift itself, the recipient could then buy what she really wants, and be better off for no extra cost. (...)

If the results are generalised, a waste of one dollar in ten represents a huge aggregate loss to society. It suggests that in America, where givers spend $40 billion on Christmas gifts, $4 billion is being lost annually in the process of gift-giving. Add in birthdays, weddings and non-Christian occasions, and the figure would balloon. So should economists advocate an end to gift-giving, or at least press for money to become the gift of choice?

Mas a dismal science redime-se se considerarmos o valor emotivo das prendas, o sentimento guilt-free de alguns presentes, prendas que abrem novos horizontes, etc. Em suma:

The lesson, then, for gift-givers? Try hard to guess the preferences of each person on your list and then choose a gift that will have a high sentimental value. As economists have studied hard to tell you, it's the thought that counts.