GIFTS WITH STRINGS ATTACHED - COMMENT

Julian Simon attempts to model the homology between intertemporal and interpersonal allocations of resources, that is, saving and gift giving. However he sacrifices too much in his attempt to fit the relevant phenomena into his proposed analytic framework. A more convincing model than Simon's would include two elements he explicitly avoids: auxiliary psychological phenomena (such as enjoyment of the act of pledging itself) and the analysis of strategic intentions (such as Adam Smith's understanding of the sources of sympathy).