This is a long shot! I was wondering if anyone could point me to any behavioral economics or other economics research on perceived value, specifically I'm looking at why some people don't redeem activity gift cards before they expire.
My hypothesis is that time doing something else they choose, is perceived as better used than time doing the activity that the gift card pays for.
For context, some of these gift cards are are worth \$100 - $500 and generally the activity they pay for is chosen by the gift giver who would know about the likes and dislikes of the receiver.
I know this is quite general, but I'm working as an analyst in a company that sells gift cards and I would like to have some background research before I look to draw any conclusions from the data, I know that some people use them, some people don't and I can see some patterns in variables in the two groups, but I'd like to bring some theoretical rigor to the analysis.