Since the onset of this recent health and economic crisis, governments around the world have been handing out cash payouts directly to individuals as part of the stimulus packages aimed to help people whose livelihoods have been affected by lockdowns caused by COVID-19. For those of us affected severely by COVID-19, this money is gladly welcomed as a temporary financial relief during this difficult time. For some of us who are minimally affected, particularly many here in Singapore, we seemed eager to donate the payout money away. To quote from the news article linked aboved: ‘Donations on fund-raising website Giving.sg reached a record $13.6 million between April 1 and April 19’. This timeframe was around the time of the payout from the Singapore government. Why were we so generous? Why were we so eager to donate? Mental Accounting A concept first named by Richard Thaler, a Nobel-prize winning economist...