| Scroogenomics: Why You Shouldn't Buy Presents for the Holidays | |
| Author: | Joel Waldfogel |
| Genre: | Nonfiction |
| Publisher: | Princeton University Press |
| Release Date: | 2009 |
| Pages: | 173 |
| Isbn: | 978-0-69-114264-7 |
| Oclc: | 310171808 |
Scroogenomics is a non-fiction book written by the economist Joel Waldfogel.[1]
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]