Research on giving includes observational associations and experiments with mixed results. A statistical comparison with income does not mean a small gift replaces a pay rise. A non-significant difference between spending amounts does not prove equal effects. Reported group averages do not guarantee that any particular person will feel happier. Choose gifts within your budget and according to the recipient’s wishes.
In a now-classic 2008 experiment, Elizabeth Dunn, Lara Aknin, and Michael Norton gave participants envelopes containing either $5 or $20, randomly assigned them to spend on themselves or on someone else, then measured happiness at the end of the day.
Good science requires skepticism, and in 2022, Kim et al. attempted to replicate the 2008 experiment using $10 envelopes (rather than the original $5/$20). Using the same composite happiness measure, they found… nothing. No significant difference between prosocial and personal spenders.