Casual observation suggests that people are more generous with their time than with their money. In this paper we present experimental evidence supporting the hypothesis. A third of our subjects demand no compensation for non-monetary investments, whereas almost all subjects demand compensation for equally costly monetary investments. The finding supports the contention that generosity to some extent is symbolic and context dependent, and that social norms encourage generosity in the time domain.
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Length: 15 pages Date of creation: 07 Dec 2006 Date of revision: Handle: RePEc:hhs:hastef:0663
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Find related papers by JEL classification: C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation Z13 - Other Special Topics - - Cultural Economics - - - Social Norms and Social Capital; Social Networks Economic Anthropology
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Adams, Renée B. & Ferreira, Daniel, 2005.
"Do Directors Perform for Pay?,"
CEI Working Paper Series
2005-2, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
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