game theory/ ultimatum gamequestionnaire approachselfish preferenceslarge stake games/ C1290P Systems theory applications in social science and politics C1140E Game theory C1290D Systems theory applications in economics and business E0210J Statistics E0220 Economics E1540 Systems theory applications...
This isn't the premise for a spin-off of the TV show "Cash Cab"; rather, it's aneconomicsexperiment that provides some interesting insight into the human psyche. It's called theultimatum game. Now you've got the $20 in your hand and your friend watches you expectantly. Will you low...
We recently played the Ultimatum Game (UG) with chimpanzees and found that the apes showed very similar responses to those shown by adult humans in previous studies, and indeed also responded very ...
The Ultimatum Game (UG) is an economic game where two players (proposer and responder) decide how to split a certain amount of money. While traditional economic theories based on rational decision making predict that the proposer should make a minimal offer and the responder should accept it, ...
The Ultimatum Game is a paradigmatic two-player game. A proposer can offer a certain fraction of some valuable good. A responder can accept the offer or reject it, implying that the two players receive nothing. The only subgame-perfect Nash equilibrium is to only offer an infinitesimal amount...
Considerable Ultimatum Game studies suggest that individuals tend to reject unfair offers even at the cost of personal financial loss. Different from prior
The Ultimatum Game is an early example of research that uncovered violations of standard assumptions of rationality. In the experiment, one player (the proposer/allocator) is endowed with a sum of money and asked to split it between him/herself and an anonymous player (the responder/recipient)....
We consider a two player game, where one player (the proposer) makes an offer to split an endowment/an amount of money between the two players and the other player (the responder) can accept or reject the offer in an ultimatum game (but has no choice in the dictator game). In an ...
An experimental analysis of ultimatum bargaining Journal of Economic Behaviour and Organization (1982) K.G. Binmore Essays on the Foundations of Game Theory (1990) S. Hargreaves Heap Rationality in Economics (1989) R.M. Solow The Labour Market as a Social Institution (1990) There are more refe...
The Ultimatum Game is a key exemplar that shows how human play often deviates from “rational” strategies suggested by game-theoretic analysis. One explanation is that humans cannot put aside the assumption of being in a multi-player multi-round environment that they are accustomed to in the re...