Making the most of your wedding gifts
I was just perusing a bunch of wedding articles online when I came across the following little gem. I’m kind of hoping it is fictional but who knows, anyway the following letter appeared on the Economist website earlier today, enjoy…….
Dear Economist: How can we get big wedding presents?
By Tim Harford
Published: May 1 2010 01:41 | Last updated: May 1 2010 01:41
My partner and I are ready to register for gifts and we are seeking the most efficient way to do it. Most registries allow any gift to be returned to the store for cash. Additionally, one can often find 20 per cent coupons for this store (meaning that one can return a gift worth $100 and then buy it back with a coupon for $80). Which gifts should we register for? I am worried that if we register for lower-priced gifts, then people who have a higher willingness to pay will take advantage of the consumer surplus and buy a cheaper gift. Or should we just register for the gifts we want because the opportunity cost spent returning gifts and buying new items will be too high?
Meir, New York
I wonder whether they’ll be treating their customers (oops guests) to any lovely wedding favours or treats… Maybe not!