Donations of both time and money are key to the success of nonprofit organizations such as charities and political groups. And although nonprofits typically favor receiving financial gifts, past research has found that donors’ preferences are often just the opposite: They like to give their time more than they like to give their money — even when donating time does less good for the cause.
New research from the University of Notre Dame delves into the underlying psychology of this phenomenon, identifying a previously unexplored difference between time and money, which helps to explain the preference.
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