The Psychology of Wealth
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Paul Smeets, Rob Bauer, and Uri Gneezy
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Wealthy individuals play an important role in charitable giving. We present evidence that millionaires give more than any other group studied in the literature. This holds particularly in a clear giving situation. In our study, millionaires either participated in a dictator game or an ultimatum game and they either interacted with another millionaire or with a low-income individual. In the dictator game, the millionaire decides how to split an amount between herself and a recipient who has no power. In the ultimatum game, the receiver needs to approve the proposer’s proposal; otherwise, both players are paid zero. Millionaires give more to a low-income participant in the dictator game than in the more strategic ultimatum game.
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2015-08-25
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