In the social sciences, a gift economy (or gift culture) is a society where valuable goods and services are regularly given without any explicit agreement for immediate or future repayment (i.e. no formal quid pro quo exists). In principle, voluntary and recurring gift exchange powerfully creates and circulates wealth, both monetary and nonmonetary, within a community. The organization of a gift economy stands in contrast to a barter economy or a market economy. Informal custom governs exchanges, rather than an explicit exchange of goods or services for money or some other commodity.

Various social theories concerning gift economies exist. Some consider the gifts to be a form of reciprocal altruism. Another interpretation is that social status is awarded in return for the gifts.

Gift economies were prevalent before the advent of market economies, but gradually disappeared as societies became more complex. Some gift economies survived until modern historical times, particularly in pre-industrial societies.