We study to what extent consumers forego personal gains to avoid or reduce the harm their choices impose on others. In the absence of regulation, such voluntary compensation provides a way for consumers to internalize negative externalities on their own. However, the tangibility of consumption...

We study to what extent consumers forego personal gains to avoid or reduce the harm their choices impose on others. In the absence of regulation, such voluntary compensation provides a way for consumers to internalize negative externalities on their own. However, the tangibility of consumption...