Phil surprises Claire with a new bracelet for their anniversary and Claire reciprocates with coupons for 5 free hugs, which Phil points out are usually free already. Claire is proud of her gift because Phil never wants anything, but Phil can list off many things he would like. Gift giving can be inefficient if it’s the two givers aren’t fully aware of the others’ preferences.
See more: coupons, exchange, gift giving, inefficiency, irrationality, medium of exchange, preferences, store of value, unit of account, wants
Haley is in a bind and needs some money real fast. She goes to Luke, but he isn’t really in a position to give her any money because he’s decided to freeze his cash. He even remarks to Haley that he isn’t very liquid right now, but we’re not convinced he actually knows about liquidity.
See more: assets, frozen assets, liquidity, medium of exchange, money, store of value