Money can’t buy love: Asymmetric beliefs about gift price and feelings of appreciation

Across three studies, we identify an asymmetry between gift-givers’ and gift-recipients’ beliefs about the link between gift price and feelings of appreciation. Gift-givers expected a positive correlation between how much they spent on a gift and the extent to which gift-recipients would appreciate the gift because gift-givers assume that more expensive gifts convey a higher level of thoughtfulness. Gift-recipients, in contrast, reported no such...