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Scroogenomics - Wikipedia

In his economics textbook, Gregory Mankiw tries gamely to do so. In a similar way, Mankiw suggests, gift giving serves a signaling function. Choosing a good gift for her is a signal of his love. To speak of signaling wrongly assumes that love is a piece of private information that one party reports to the other.

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If this were the case, then cash would work as well—the higher the payment, the stronger the signal, and the greater presumably the love. But love is not only, or mainly, matter of private information. It is a way of being with and responding to another person. Giving, especially attentive giving, can be an expression of it. No cover image. Read preview. Synopsis Christmas is a time of seasonal cheer, family get-togethers, holiday parties, and-gift giving.

Read preview Overview. Wyand Macmillan, It's All about Income! Patton, Robert T.

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Nelson, David M. Journal of Forensic Economics, Vol. Toon meer Toon minder. Recensie s Leave it to an economist to make an impassioned argument for why we shouldn't give gifts, especially during the holidays.

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Point by point the author demolishes the case for giving gifts. In fact, this is a very sensible book on every level. This lively, spot-on book may be the one gift that still makes sense to buy come Black Friday.

Not only is it well under pages, but the book can easily fit in your pocket. This is no think volume intended to scare off non-economists. Better still, Scroogenomics is almost entirely free of jargon.


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And when technical terms do appear, they are immediately explained. Another Katrina? No, another Christmas. This voluntary December calamity is explained in a darkly amusing little book that is about the size of an iPhone. Scroogenomics comes from a distinguished publisher, Princeton University Press, and an eminent author, Joel Waldfogel of the University of Pennsylvania's Wharton business school. The result is a short but engaging manifesto on the inefficiency of the tradition, concluding with several solutions to increase satisfaction for both givers and receivers.

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Scroogenomics : why you shouldn't buy presents for the holidays

Although his own suggestions mandate that you not buy this book for someone who wanted something else, fans of Freakonomics and The Economic Naturalist may love it. Waldfogel is, if not a unique, then certainly a rare economist. Long-term readers of this column will be well aware of Professor Waldfogel's research paper, 'The Deadweight Loss of Christmas'. Ever since it was published in it has been taken out by economic journalists and displayed like last year's decorations.

Waldfogel--a witty writer himself--has evidently decided that if everyone is going to discuss the idea, he may as well get in on the act, so has published Scroogenomics, a book that--dare I say it--looks like it would make a terrific stocking-filler.


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  • But Professor Joel Waldfogel instead uses a rather arch economic formula to explain why giving presents is a complete waste of time. Joel Waldfogel, an economist at the University of Pennsylvania's Wharton School of Business, has written a book that promoters hype as one 'Santa doesn't want you to read.

    Waldfogel doesn't just stomp on tradition.