Editing Gift (section)

==Unwanted gifts==

Giving the appropriate gift that aligns with the recipient's preferences poses a formidable challenge. Gift givers commonly err in the process of gift selection, either by offering gifts that the recipients' do not wish to receive or by failing to provide gifts that recipients earnestly desired. For example, givers avoid giving the same gifts more than once while recipients are more open to receiving a repeated gift,<ref>{{Cite journal |last=Givi |first=Julian |date=2020-09-01 |title=(Not) giving the same old song and dance: Givers' misguided concerns about thoughtfulness and boringness keep them from repeating gifts |url=https://www.sciencedirect.com/science/article/pii/S0148296320303179 |journal=Journal of Business Research |language=en |volume=117 |pages=87–98 |doi=10.1016/j.jbusres.2020.05.023 |s2cid=219930823 |issn=0148-2963}}</ref> givers prefer to avoid giving [[self-improvement]] products (e.g., [[self-help book]]s) as gifts while recipients are more open to receiving such gifts,<ref>{{Cite journal |last=Reshadi |first=Farnoush |date=2023-10-01 |title=Failing to give the gift of improvement: When and why givers withhold self-improvement gifts |url=https://www.sciencedirect.com/science/article/pii/S0148296323003892 |journal=Journal of Business Research |language=en |volume=165 |pages=114031 |doi=10.1016/j.jbusres.2023.114031 |s2cid=258819983 |issn=0148-2963}}</ref> when choosing between giving digital and physical [[gift card]]s, givers opt for the latter more often than recipients want,<ref>{{Cite journal |last1=Reshadi |first1=Farnoush |last2=Givi |first2=Julian |last3=Das |first3=Gopal |date=May 2023 |title=Gifting digital versus physical gift cards: How and why givers and recipients have different preferences for a gift card's mode of delivery |url=https://onlinelibrary.wiley.com/doi/10.1002/mar.21790 |journal=Psychology & Marketing |language=en |volume=40 |issue=5 |pages=970–978 |doi=10.1002/mar.21790 |s2cid=255635981 |issn=0742-6046}}</ref> and many receivers prefer a future [[experience]] instead of an [[physical object|object]], or a practical gift that they have requested over a more [[expensive]], showier gift chosen by the giver.<ref name=":0">{{Cite journal |last1=Galak |first1=Jeff |last2=Givi |first2=Julian |last3=Williams |first3=Elanor F. |date=December 2016 |title=Why Certain Gifts Are Great to Give but Not to Get: A Framework for Understanding Errors in Gift Giving |journal=Current Directions in Psychological Science |language=en |volume=25 |issue=6 |pages=380–385 |doi=10.1177/0963721416656937 |issn=0963-7214 |doi-access=free}}</ref> One cause of the mismatch between the giver's and receiver's view is that the giver is focused on the act of giving the gift, while the receiver is more interested in the long-term [[utilitarian]] value of the gift.<ref name=":0" />

Due to the mismatch between givers' and recipients' gift preferences, a significant fraction of gifts are unwanted, or the giver pays more for the item than the recipient values it, resulting in a misallocation of economic resources known as a [[deadweight loss]]. Unwanted gifts are often "[[regift]]ed", donated to charity, or thrown away.<ref name="vox">{{Cite news |url=https://www.vox.com/new-money/2016/12/21/14032662/christmas-gift-giving-wasteful|title=The economic case against Christmas presents |work=Vox |access-date=December 5, 2017 |date=December 21, 2016 |last=Lee |first=Timothy B. }}</ref> A gift that actually imposes a burden on the recipient, either due to maintenance or storage or disposal costs, is known as a [[white elephant]].

One means of reducing the mismatch between the buyer and receivers' tastes is advance coordination, often undertaken in the form of a [[wedding registry]] or [[Christmas list]]. Wedding registries in particular are often kept at a single store, which can designate the exact items to be purchased (resulting in matching housewares), and to coordinate purchases so the same gift is not purchased by different guests. One study found that wedding guests who departed from the registry typically did so because they wished to signal a closer relationship to the couple by personalizing a gift, and also found that as a result of not abiding by the recipients' preferences, their gifts were appreciated less often.<ref>{{cite news |url=https://www.npr.org/2016/06/24/483426485/new-study-explores-psychology-of-giving-wedding-gifts |title=New Study Explores Psychology Of Giving Wedding Gifts |last=Mendoza |first=Nohely |date=December 26, 2017 |location=Waco, Texas |newspaper= Nexstar Broadcasting }}</ref> 

An estimated $3.4 billion was spent on unwanted Christmas gifts in the United States in 2017<ref name="cent">{{cite news |url=http://www.centexproud.com/news/local/biggest-return-day-of-the-year/888734842 |title=Biggest return day of the year |last=Mendoza |first=Nohely |location=Waco, Texas |access-date=September 19, 2018 |newspaper=Nexstar Broadcasting }}</ref> and $10.1 billion in 2024<ref>{{cite news|url=https://nypost.com/2024/12/20/us-news/americans-will-waste-10-1b-on-unwanted-holiday-gifts-and-53-will-get-a-disappointing-present/|title=Americans will waste $10.1B on unwanted holiday gifts — and 53% will get a disappointing present}}</ref> .The day after Christmas is typically the busiest day for returns in countries with large Christmas gift giving traditions.<ref name="cent" /><ref>{{cite news |url=https://www.independent.co.uk/news/business/news/unwanted-christmas-presents-returns-busiest-day-year-working-retail-a8138181.html |title=Unwanted Christmas presents set to rise on busiest day of the year for returns |newspaper=The Independent |date=January 2, 2018 |access-date=September 19, 2018 |last=Musaddique |first=Shafi }}</ref> The total unredeemed value of [[gift cards]] purchased in the U.S. each year is estimated to be about a billion dollars.<ref name="vox" />

In some cases, people know the preferences of recipients very well, and can give highly valued gifts. Some value in gift-giving comes from assisted preference discovery - people receiving gifts they did not know they would like, or which they did not know were available. Behavioral economists propose that the non-material value of gifts lies in strengthening relationships by signalling the giver was thoughtful, or spent time and effort on the gift.<ref>{{cite news |url=https://www.washingtonpost.com/news/storyline/wp/2014/12/19/no-virginia-christmas-is-not-an-orgy-of-wealth-destruction/ |title=No, Virginia, Christmas is not an 'orgy of wealth destruction' |author=Jeff Guo |date=December 19, 2014 |newspaper=[[The Washington Post]]}}</ref>