Face-saving and Seasonal Gifts: Analysis of Cultural Exchanges in the Confucian Market Place

Authors

  • Vic Benuyenah University of London/Dubai Women's College, Dubai

Abstract

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

Downloads

Download data is not yet available.

Author Biography

Vic Benuyenah, University of London/Dubai Women's College, Dubai

Asst ProfessorDubai Women's CollegeDubai, UAE

Downloads

Published

2021-03-30

How to Cite

Benuyenah, V. (2021). Face-saving and Seasonal Gifts: Analysis of Cultural Exchanges in the Confucian Market Place. International Review of Management and Marketing, 11(2), 59–66. Retrieved from http://econjournals.com/index.php/irmm/article/view/11202

Issue

Section

Articles