publication . Part of book or chapter of book . 2016

Theoretical Models of Decision-Making in the Ultimatum Game: Fairness vs. Reason

Guy Tatiana V.; Kárný Miroslav; Lintas Alessandra; Villa Alessandro E.P.;
  • Published: 01 Jan 2016
  • Publisher: Springer Singapore
According to game theory, a human subject playing the ultimatum game should choose more for oneself and offer the least amount possible for co-players (assumption of selfish rationality) (Rubinstein in J Econ Behav Organ 3(4):367–388, [1]). However, economy, sociology and neurology communities repeatedly claim non-rationality of the human behaviour (Werner et al. in Theory of Games and Economic Behavior. Princeton University Press, Princeton, [2]), following the observation that responders reject offers they find too low and proposers often offer more than the smallest amount, thus suggesting that humans’ behaviour is significantly influenced by social norms. We...
free text keywords: Rationality, Economics, Theoretical models, Dictator game, Norm (social), Game theory, Impunity game, Profit (economics), Ultimatum game, Microeconomics
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