CHRISTMAS GIFTS AND FINANCIAL MARKETS.

CHRISTMAS GIFTS AND FINANCIAL MARKETS. John Kay argues that some of the reasons we value gifts also explain activities on the financial markets: lack of knowledge and pervasive uncertainty. He points out that we aren’t sure of our own preferences. We don’t have the information others have from shopping and experience. Kay points out that the same pervasive uncertainty underlies much of the activity on financial markets. If people knew the future and didn’t change their minds, most of the trades on financial markets would not take place.