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An Experimental Analysis of the Ultimatum Game

By Meszerics, Lorand Ambrus-Lakatos Tamas

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Book Id: WPLBN0000684256
Format Type: PDF eBook
File Size: 73.80 KB.
Reproduction Date: 2005

Title: An Experimental Analysis of the Ultimatum Game  
Author: Meszerics, Lorand Ambrus-Lakatos Tamas
Volume:
Language: Hungarian
Subject: Fiction, Lierature, Hungarian literature
Collections: Hungarian Library Collection
Historic
Publication Date:
Publisher: The Hungarian Electronic Library

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Tamas Meszerics, L. A. (n.d.). An Experimental Analysis of the Ultimatum Game. Retrieved from http://www.icloud-library.org/


Description
Hungarian Classic Literature:

Excerpt
In the Ultimatum Game players are to distribute 100 units among themselves according to the following rules. Player I is the allocator and player II the responder. Player I proposes a division of that sum between the two players. Player II responds by saying yes or no. If the response is yes, the proposed division is implemented. If the response is no, both players get nothing. In game theory, we shall find out what the two players are to do in this situation by applying solution concepts. The Ultimatum Game being a game in extensive form and of perfect information, the appropriate solution concept is subgame-perfect Nash-equilibrium. Accordingly, player I is to propose a 99:1 division; and since one is more than zero, player II is better off accepting this radically unequal distribution of the sum than receiving nothing.


 

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