Scroogenomics is a non-fiction book written by the economist Joel Waldfogel.[1]
Overview
In his book Waldfogel argues that purchasing gifts for other people is a "terrible way to allocate resources" as a result of gift givers' lack of knowledge of the recipients' true preferences.[2] Waldfogel estimates that approximately $12 billion a year in the U.S. and $25 billion a year worldwide is misallocated in Yuletide giftgiving, which he calls "an orgy of wealth destruction".[3][4][5]
