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Definition 1

According to neoclassical economics, rational beings do whatever they need to in order to maximize their own wealth. However, when people make sacrifices to benefit others without expecting a personal reward, they are thought to behave altruistically (Rushton, 1984). Common applications of this pro-social behavior include volunteering, philanthropy, and helping others in emergencies (Piliavin & Charng, 1990).

Source: Behavioral Economics

Definition 2

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