Time is not money

Tore Ellingsen () and Magnus Johannesson ()

No 663, Working Paper Series in Economics and Finance from Stockholm School of Economics

Abstract: 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.

Keywords: Altruism; Bargaining; Non-monetary generosity (search for similar items in EconPapers)
JEL-codes: C91 J20 L14 Z13 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-exp, nep-hpe, nep-mac and nep-soc
Date: 2006-12-07
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Journal Article: Time is not money (2009)
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Persistent link: http://EconPapers.repec.org/RePEc:hhs:hastef:0663

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