Joel Waldfogel
Joel Waldfogel is a researcher and author of the 1993 American Economic Review paper on the deadweight loss of Christmas.
Who they are
The work of Joel Waldfogel reaches this site through the paper listed below. On this site the name is tied to Deadweight Loss of Gift-Giving.
Key papers
Waldfogel, J. (1993). The deadweight loss of Christmas. American Economic Review, 83(5), 1328-1336. What it reports: Surveys of undergraduates at a US university: recipients stated what they would pay for gifts received and what cash they would accept instead. Estimated that gifts lose between a tenth and a third of their value. Gifts from friends and romantic partners were most efficient; noncash gifts from extended family lost about a third and those relatives were most likely to give cash. Holiday gift spending estimated by comparing December retail sales with adjacent months, in the tens of billions of dollars. The author noted the respondents may not represent the wider population.
Key ideas
Deadweight Loss of Gift-Giving: The gap between what a gift costs the giver and what the recipient values it at, estimated in a survey of undergraduates at between a tenth and a third of the price.
Sources
- Waldfogel, J. (1993). The deadweight loss of Christmas. American Economic Review, 83(5), 1328-1336.