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 regifted, donated to charity, or thrown away. 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.
A puzzle is a problem or enigma that challenges ingenuity. Solutions to puzzle may require recognizing patterns and creating a particular order. People with a high inductive reasoning aptitude may be better at solving these puzzles than others. Puzzles based on the process of inquiry and discovery to complete may be solved faster by those with good deduction skills. A popular puzzle toy is the Rubik's Cube, invented by Hungarian Ernő Rubik in 1974. Popularized in the 1980s, solving the cube requires planning and problem-solving skills and involves algorithms.
These views, grounded as they are on the perfectly well-ascertained occurrence of a former Glacial period, seem to me to explain in so satisfactory a manner the present distribution of the Alpine and Arctic productions of Europe and America, that when in other regions we find the same species on distant mountain-summits, we may almost conclude without other evidence, that a colder climate permitted their former migration across the low intervening tracts, since become too warm for their existence.
In the nineteenth century, the emphasis was put on toys that had an educational purpose to them, such as puzzles, books, cards and board games. Religiously themed toys were also popular, including a model Noah's Ark with miniature animals and objects from other Bible scenes. With growing prosperity among the middle class, children had more leisure time on their hands, which led to the application of industrial methods to the manufacture of toys.
Digital toys are toys that incorporate some form of interactive digital technology. Examples of digital toys include virtual pets and handheld electronic games. Among the earliest digital toys are Mattel Auto Race and the Little Professor, both released in 1976. The concept of using technology in a way that bridges the digital with the physical world, providing unique interactive experiences for the user has also been referred to as "Phygital."
Another study done by Jeffrey Trawick-Smith took 60 different children ages three to four and observed them playing with nine different toys deemed best for development. They were allowed to play with the toys in a typical environment, a preschool classroom, which allowed for the results to be more authentic compared to research done in a lab. The researchers then quantified play quality of the children with each toy based on factors such as learning, problem solving, curiosity, creativity, imagination, and peer interaction. The results revealed that boys generally received higher scores for overall play quality than girls, and the toys with the best play quality were those identified as the most gender neutral, such as building blocks and bricks along with pieces modeling people. Trawick-Smith then concluded that the study encourages a focus on toys which are beneficial to both genders in order to create a better balance.
Some toys, such as Beanie Babies, attract large numbers of enthusiasts, eventually becoming collectibles. Other toys, such as Boyds Bears are marketed to adults as collectibles. Some people spend large sums of money in an effort to acquire larger and more complete collections. The record for a single Pez dispenser at auction, for example, is US$1100.