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Home Uncategorized

Unveiling Human Generosity in a $10,000 Experiment

In a high-stakes generosity study, researchers gave $10,000 to 200 individuals from seven countries and instructed them to spend it all within three months.

  • Editor Staff
  • September 16, 2023
Red heart symbol is put by person's hand into slot of white donation box, Concept of donorship, life saving or charity
(Shutterstock / Photo Contributor wabeno)
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In a high-stakes generosity study, researchers gave $10,000 to 200 individuals from seven countries and instructed them to spend it all within three months. The results revealed that participants spent 68% of the funds in a way that benefited others, sometimes alongside benefiting themselves. This research gives insight into potential human behavior as a massive wealth transfer from the Baby Boomer generation is imminent, suggesting much of this money could be directed towards the public good.
 

Key Points: 

  1. 200 participants from countries like Brazil, Indonesia, and the UK were given $10,000 each to spend within three months.
  2. Participants spent 68% of their money prosocially, on acts benefiting others and occasionally themselves.
  3. Regardless of the country’s economic status, there was no difference in prosocial spending, but high-income countries saw more charitable donations.
  4. Those prompted to share their spending on social media donated more (23%) to charity than those without this stipulation (15%).
  5. As the Baby Boomer generation starts to pass away, up to $36 trillion in inheritances are expected in the U.S. alone, indicating a potential boost in public good spending.

 

Source: https://bigthink.com/the-present/generosity-study-economics/ 

Editor Staff

Editor Staff

The Editor Staff at SOFX comprises a diverse, global team of dedicated staff writers and skilled freelancers. Together, they form the backbone of our reporting and content creation.

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