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The Psychology of Wealth

Giving behavior of millionaires
Paul Smeets, Rob Bauer, and Uri Gneezy
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.
2015-08-25
(c) 2020 by Tarek el Sehity
last modified: March 2020