Miscellaneous
By Jay L. Zagorsky , Boston University Gift giving is a big deal this time of year. To find the “perfect” gift , Americans will spend about 15 hours shopping. Women will do about twice as much as men. And they’ll shell out about US$1 trillion on gifts. While retailers relish the holiday shopping season as a time when consumers open their purses or wallets, for many consumers – especially those who do not like shopping – these days are filled with dread . They mark moments when shoppers clog malls, websites become overloaded and delivery trucks block streets . The entire process generates untold amounts of stress and anxiety . One source of stress is just how much to spend on gifts. Spending too much can put you in financial distress. Spending too little may make you look cheap. How do you decide what’s the “right” amount to spend on gifts? As an economist , I study holidays and gift giving because a large fraction of retail shopping is driven by seasonal events like Black Friday, Cyber