Face-saving and Seasonal Gifts: Analysis of Cultural Exchanges in the Confucian Market Place
Contrasting views on whether gifts are undervalued or overvalued have featured in the Western literature. Most previous studies point to gift undervaluation, which leads to receivers re-gifting or returning what they have received from their loved ones. This study takes the discussion further by in...
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| Format: | Article |
| Language: | English |
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EconJournals
2021-03-01
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| Series: | International Review of Management and Marketing |
| Online Access: | https://econjournals.com/index.php/irmm/article/view/11202 |
| _version_ | 1797923663853387776 |
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| author | Vic Benuyenah |
| author_facet | Vic Benuyenah |
| author_sort | Vic Benuyenah |
| collection | DOAJ |
| description |
Contrasting views on whether gifts are undervalued or overvalued have featured in the Western literature. Most previous studies point to gift undervaluation, which leads to receivers re-gifting or returning what they have received from their loved ones. This study takes the discussion further by investigating the existence of Deadweight Loss (DWL) in gifts received during Valentine's Day. The study finds no evidence of DWL in the assessment of gifts, although, face-saving plays a role in the evaluation of cash-gifts. The absence of DWL in the valuation of gifts significantly implies that post-purchase returns of unwanted gifts are unlikely in the context of Vietnamese Valentine's gifts.
Keywords: face-saving, Vietnam economy, psychological marketing, Valentine gifts, Lunar New Year
JEL Classifications: M2, M3, D91
DOI: https://doi.org/10.32479/irmm.11202
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| first_indexed | 2024-04-10T14:49:58Z |
| format | Article |
| id | doaj.art-3b7fe6a88d9a4792a65ea2bd4fc35bd0 |
| institution | Directory Open Access Journal |
| issn | 2146-4405 |
| language | English |
| last_indexed | 2024-04-10T14:49:58Z |
| publishDate | 2021-03-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Review of Management and Marketing |
| spelling | doaj.art-3b7fe6a88d9a4792a65ea2bd4fc35bd02023-02-15T16:07:37ZengEconJournalsInternational Review of Management and Marketing2146-44052021-03-011125153Face-saving and Seasonal Gifts: Analysis of Cultural Exchanges in the Confucian Market PlaceVic Benuyenah0University of London/Dubai Women's College, Dubai Contrasting views on whether gifts are undervalued or overvalued have featured in the Western literature. Most previous studies point to gift undervaluation, which leads to receivers re-gifting or returning what they have received from their loved ones. This study takes the discussion further by investigating the existence of Deadweight Loss (DWL) in gifts received during Valentine's Day. The study finds no evidence of DWL in the assessment of gifts, although, face-saving plays a role in the evaluation of cash-gifts. The absence of DWL in the valuation of gifts significantly implies that post-purchase returns of unwanted gifts are unlikely in the context of Vietnamese Valentine's gifts. Keywords: face-saving, Vietnam economy, psychological marketing, Valentine gifts, Lunar New Year JEL Classifications: M2, M3, D91 DOI: https://doi.org/10.32479/irmm.11202 https://econjournals.com/index.php/irmm/article/view/11202 |
| spellingShingle | Vic Benuyenah Face-saving and Seasonal Gifts: Analysis of Cultural Exchanges in the Confucian Market Place International Review of Management and Marketing |
| title | Face-saving and Seasonal Gifts: Analysis of Cultural Exchanges in the Confucian Market Place |
| title_full | Face-saving and Seasonal Gifts: Analysis of Cultural Exchanges in the Confucian Market Place |
| title_fullStr | Face-saving and Seasonal Gifts: Analysis of Cultural Exchanges in the Confucian Market Place |
| title_full_unstemmed | Face-saving and Seasonal Gifts: Analysis of Cultural Exchanges in the Confucian Market Place |
| title_short | Face-saving and Seasonal Gifts: Analysis of Cultural Exchanges in the Confucian Market Place |
| title_sort | face saving and seasonal gifts analysis of cultural exchanges in the confucian market place |
| url | https://econjournals.com/index.php/irmm/article/view/11202 |
| work_keys_str_mv | AT vicbenuyenah facesavingandseasonalgiftsanalysisofculturalexchangesintheconfucianmarketplace |