As an institution for “allocating resources” (getting stuff to the right people), holiday giving is a complete loser

Well my view is precisely that holiday giving (as well as giving in a wider sense) is more than just a mechanism for allocating resources. I thought I addressed that point specifically by dealing with the signalling role of the nature of the gift.

My beef with the conventional economics perspective like that expressed by Waldfogel is that it takes too narrow a view of wealth, and fails to recognize non-material costs and benefits in the trade.

Accidental behavioural economist in search of wisdom. Uses insights from (behavioural) economics in organization development. On Twitter as @koenfucius

Accidental behavioural economist in search of wisdom. Uses insights from (behavioural) economics in organization development. On Twitter as @koenfucius