Philanthropy is one of the enduring areas of economic research. Why would people work hard only to give their earnings away? The paper explores the theoretical foundations, as well as the empirical and policy research on philanthropy. This paper reviews over 25 years worth of economic research,...

Real-effort experiments are frequently used when examining a response to incentives. For any particular real-effort task to be well-suited for such an exercise, subjects' cost for exerting effort must, for the range of incentives considered, result in an interior effort choice. The popular...