Passing the buck to the wealthier: Reference-dependent standards of generosity

•Subjective ethical standards of giving are reference-dependent with respect to the self.•Most feel strapped for cash, but believe higher earners are flush with spare money.•Higher earners report having much less spare money than what lower earners expect.•Higher earners are thus expected to donate much more than what they self-assess.•People are more accurate at assessing the spare money of lower earners than higher earners.