How Much Money Should You Spend on a Wedding Gift?

Economics and psychology provide different answers to this question that many of us have had to deal with.

Let’s say you’ve been invited to a wedding and want to figure out how much you should spend on a wedding gift for the newly-weds. It’s a question that virtually all of us have faced at one time or another.  The answer is dictated by rules of etiquette that are influenced by culture, social class, and even the economic environment. But these rules are of…