Dana & Tony started by exploring how to help people be more thoughtful in a digital age and ended up focusing on re-designing gift giving. They used a "design-thinking" process — basically Anthropology meets entrepreneurship — to identify insights about people's needs. The insights from 100+ field-based interviews and emersion experiences nationwide led to "AwesomeBox" — a gift-giving platform that is social-by-design.
They began their journey at the "pre-idea" stage. Watch their first video — on the way to Innovation Endeavors in Palo Alto.
Rational economists thus make a simple suggestion: Give cash or give nothing.
But behavioral economics, which draws on psychology as well as on economic theory, is much more appreciative of gift giving. Behavioral economics better understands why people (rightly, in my view) don’t want to give up the mystery, excitement and joy of gift giving. In this view, gifts aren’t irrational. It’s just that rational economists have failed to account for their genuine social utility.