Giving behavior of millionaires.
Where this comes from
- Record sourced from PubMed, PMID 26261327.
- Also identified by DOI 10.1073/pnas.1507949112 and PMC identifier 4553827.
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Abstract
This paper studies conditions influencing the generosity of wealthy people. We conduct incentivized experiments with individuals who have at least €1 million in their bank account. The results show that millionaires are more generous toward low-income individuals in a giving situation when the other participant has no power, than in a strategic setting, where the other participant can punish unfair behavior. Moreover, the level of giving by millionaires is higher than in any other previous study. Our findings have important implications for charities and financial institutions that deal with wealthy individuals.
Medical subject headings
- Altruism