UAE. Love is in air, and with Valentine’s Day just around the corner, it’s a time of year when many couples seal their relationship with a marriage proposal.
But there may be good news for the wallets of the men buying the rings, according to a study from London Business School’s Dr Gabrielle Adams.
Dr Adams, Assistant Professor of Organisational Behaviour, and co-author Professor Frank Flynn from the Stanford Graduate School of Business, analysed the correlation between the value of a gift and level of appreciation. They found that in reality receivers don’t appreciate expensive gifts that much more than inexpensive ones.
“Men seem to feel pressure to propose with a really expensive ring, thinking that it will signal thoughtfulness, when in reality their future fiancées don’t differentiate between more and less expensive diamonds” says Dr. Adams. “This isn’t simply a gender difference – it highlights the differences in how givers and receivers perceive the costs of gifts.”
Through surveying engaged couples online the study found that men constantly thought the more they spent on their rings, the more their fiancées appreciated them. Fiancées, on the other hand, did not rate themselves any more appreciative if the rings were more costly.
Engagement rings are one of the largest ticket items throughout the year and, according to the United States Diamond Information Centre, around 84% of American brides receive a diamond engagement ring. Now that is a sparkly industry.
However, it is not all bad news for those already in the queue at Tiffany’s cashdesk.
“This shows that men shouldn’t feel bad if they can’t afford to buy the ring they really want,” says Professor Flynn. “The fact that the thought counts more than the price tag is important for people to realize, especially in these challenging economic times when people are really strapped for cash.”
So for those romantics, keep in mind that it really is the thought that counts and it’s likely she will just be happy that you asked.
The Dubai campus of London Business School was set up in 2006 and has since established itself as a global hub for the school.
Both the London and Dubai programmes are synchronised providing the exact same standards of teaching and excellence that has come to be expected of the school. Based at the Dubai International Financial Centre (DIFC), the Dubai programme offers the opportunity to study and network in one of the world’s most dynamic cities.
About London Business School
London Business School's vision is to have a profound impact on the way the world does business. The School is consistently ranked among the best in the world for its full-time MBA programme*. In research, the School is ranked top ten and holds the highest average research score of any UK academic institution**.
The School's faculty, from over 30 countries, is grouped into seven subject areas – Accounting; Economics; Finance; Management Science and Operations; Marketing; Organisational Behaviour; and Strategy and Entrepreneurship. Additionally it has four research centres: Aditya Birla India Centre, Centre for Corporate Governance, Coller Institute of Private Equity, and Deloitte Institute of Innovation and Entrepreneurship.
Studying at the School provides access to an unmatched diversity of thought. With a presence in four international cities – London, New York, Hong Kong and Dubai – the School is well positioned to equip students from more than 100 countries with the capabilities needed to operate in today’s business environment. Students further benefit from our 33,500 alumni from more than 130 countries, who provide a wealth of knowledge, business experience and worldwide networking opportunities.
The School awards over 1,000 degrees every year, across MBA, Executive MBA, EMBA-Global, Masters in Finance, Masters in Management, Sloan MSc and PhD programmes. The Executive Education team offers a portfolio of over 25 open programmes as well as custom-designed programmes developed to meet the specific needs of individuals and their organisation. Annually, over 7,000 participants attend executive programmes that are led by many of the world’s leading business thinkers.