The DeadWeight Loss of Christmas

Economist are not a sentimental bunch, that we know. For those who do not like making/receiving gifts at Christmas, here is an interesting AER paper that confirms their beliefs: the Xmas gifts destroy between 1/10 and 1/3 of the  value of the gifts, with a deadweight loss which is about 10% of that of income tax!
(Actually, I like gifts: but the best  I got this year was not bought with money, it was a drawing from my daughter. So happy Christmas everyone)