In addressing societal grand challenges such as economic inequality, public policies fall short, while firms struggle to extend their corporate mission beyond shareholder interests. This study reports a field experiment of an innovative solution that leverages design principles that reinforce prosocial behavior in economic exchange. We find that price subsidization in the proposed digital platform enhances economic equality and increases the purchasing power of low earners without reducing participants’ engagement or inflating consumption. Moreover, opportunistic behavior is restrained, with high earners creating sufficient value to subsidize low earners, without substituting personal and community donations. Our study reveals that the proposed solution enhances prosocial behavior and satisfaction compared to the prevalent economic model, demonstrating the merits of private initiatives that leverage innovative solutions to societal challenges.
