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...

Negative externalities, social and environmental responsibility, income effects, market experimentsThis paper reports the results of a large-scale incentivized experiment investigating individuals' fairness perceptions of the extreme income inequalities generated in winner-take-all competitions....