John List and Jason Shogren Conducted a Study That Tried

John List and Jason Shogren conducted a study that tried to explain why people continue to give presents rather than cash for birthdays and holidays. Their study found that

A) as much as half the value of a gift to a recipient was its sentimental value.
B) on average, families and friends paid much more for presents than the recipients were willing to pay for them.
C) government restrictions are responsible for most of the deadweight losses associated with gift giving.
D) the deadweight loss from giving cash was twice as great as the deadweight loss from giving presents.