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A theory of reciprocal gifts

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  • Dipankar Purkayastha

Abstract

Anthropologists and sociologists have long emphasized the concept of generalized reciprocity and symbolic value of gifts. When gifts are given in primitive or modern societies, symbolic meanings of gifts are taken into account and the gift recipients feel obliged to return the favor. In the field of economics, several papers in recent years have emphasized the value of gifts as signaling toools or as expressions of altruism. However, these papers do not address the issue of symbolic value of gifts. This paper discusses how symbolic value of a gift can be determined and how it is related to the concept of generalized reciprocity. A Nash game is used to show how symbolic values may be determined in a model of generalized reciprocal gifts. Copyright International Atlantic Economic Society 2004

Suggested Citation

  • Dipankar Purkayastha, 2004. "A theory of reciprocal gifts," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 32(4), pages 312-319, December.
    • Handle: RePEc:kap:atlecj:v:32:y:2004:i:4:p:312-319
    DOI: 10.1007/BF02304236
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    References listed on IDEAS

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    1. Ernst Fehr & Simon Gächter, 2000. "Fairness and Retaliation: The Economics of Reciprocity," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 159-181, Summer.
    2. Carmichael, H Lorne & MacLeod, W Bentley, 1997. "Gift Giving and the Evolution of Cooperation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(3), pages 485-509, August.
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    5. Andreoni, James, 1990. "Impure Altruism and Donations to Public Goods: A Theory of Warm-Glow Giving?," Economic Journal, Royal Economic Society, vol. 100(401), pages 464-477, June.
    6. Stark,Oded, 1999. "Altruism and Beyond," Cambridge Books, Cambridge University Press, number 9780521663731.
    7. Sugden, Robert, 1984. "Reciprocity: The Supply of Public Goods through Voluntary Contributions," Economic Journal, Royal Economic Society, vol. 94(376), pages 772-787, December.
    8. Jeroen van de Ven, 2002. "The Demand for Social Approval and Status as a Motivation to Give," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 158(3), pages 464-482, September.
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