Learn Before
Use of Controlled Experiments to Empirically Investigate Economic Behavior
Determinants of Bargaining Outcomes: Preferences and Rules of the Game
Sequential Game
Ultimatum Game
The ultimatum game is a two-person strategic interaction used to study how mutual benefits are shared. It is a sequential game where players act in a specific order. The first player (the Proposer) suggests a division of a 'pie' (e.g., $100), and can typically offer any amount within that total. The second player (the Responder) then chooses to either accept the offer, splitting the pie as proposed, or reject it, resulting in both players receiving nothing.
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Library Science
Economics
Economy
Introduction to Microeconomics Course
Social Science
Empirical Science
Science
CORE Econ
Related
Laboratory Experiments on Cooperation in the Prisoners' Dilemma
Evidence from Economic Games: Self-Interest is a Minority Behavior
Source Study: Antisocial Punishment Across Societies (Herrmann, Thoni, & Gachter, 2008)
Analogy Between Economic Experiments and Mendel's Method
University Laboratories as a Setting for Economic Experiments
Key Research and Researchers in Experimental Economics
Field Experiments (Randomized Control Trials) in Economics
Ultimatum Game
Use of Monetary Stakes in Economic Experiments to Ensure Realistic Behavior
Influence of Game Rules (Structural Power) on Bargaining Outcomes
Conflicting Social Preferences in Negotiations
Anastasia's Decision to Share Roman Coins with Belinda
Bargaining Problem: Factors in Dividing a Found $100 Note
Ultimatum Game
Effect of Competition on Negotiation Outcomes
Two Grounds for Judging Fairness (Substantive vs. Procedural)
Dividing Profits in a Joint App Business
Dividing the Asset
Imagine a negotiation where a Proposer must offer a split of 100 but now faces two Responders. The Proposer makes a single take-it-or-leave-it offer, and the first Responder to accept it gets the offered amount, while the Proposer keeps the remainder. How would the introduction of a second Responder most likely affect the share of the $100 that the Proposer offers?
Explaining Different Bargaining Outcomes
In any negotiation, the final outcome is influenced by the 'rules of the game' (the institutional structure of the interaction) and the 'preferences' of the participants (their personal values, such as fairness or self-interest). For each scenario described in the left column, match it to the primary determinant in the right column that best explains the behavior or outcome.
True or False: In a one-time negotiation to split a sum of money, if the only preference of both participants is to maximize their own personal gain, the specific process used for the negotiation (e.g., who makes the first offer, whether counter-offers are allowed) will not affect the final division of the money.
Evaluating a Bargaining Outcome
In the study of negotiation, the two primary factors that determine how a contested resource will be divided are the participants' personal values, known as their preferences, and the set of established procedures that structure the interaction, known as the _________.
Partnership Profit-Split Negotiation
The Impact of Fairness Preference on Negotiation Strategy
Task Division Dilemma
Ultimatum Game
Game Tree
Game Tree vs. Payoff Matrix for Representing Sequential Games
Learn After
Global Application of the Ultimatum Game Across Diverse Groups
Setup of the Ultimatum Game Experiment
A $35 Offer in the Ultimatum Game
Economic Rent in the Ultimatum Game
Simplified Ultimatum Game with Two Offers
Strategic Considerations in the General Ultimatum Game
Determinants of Ultimatum Game Outcomes
Labor Strikes as a Real-World Ultimatum Game
Using the Ultimatum Game to Study Social Preferences and Rent Sharing
Ultimatum Game with Competing Responders
Pirate Institutions as the 'Rules of the Game'
The Take-it-or-Leave-it Rule and Proposer's Bargaining Power
Responder's Veto Power as a Limit on Proposer's Bargaining Power
The Labor Market Hiring Process as an Ultimatum Game
Evaluating Substantive and Procedural Fairness in the Ultimatum Game
In a one-shot ultimatum game involving a $100 prize, which of the following scenarios presents the biggest challenge to the assumption that individuals act purely out of self-interest to maximize their own financial gain?
Analyzing a Seemingly Irrational Economic Decision
A two-person game is structured as follows: Player 1 (the Proposer) is given a sum of money and must offer a portion of it to Player 2 (the Responder). The Responder can then either accept the offer, in which case the money is split as proposed, or reject it, in which case both players receive nothing. Arrange the following events of a single round of this game in the correct chronological order.
According to a model where individuals are assumed to be perfectly rational and motivated solely by self-interest, a Responder in the ultimatum game should reject any offer they perceive as unfair, even if it is greater than zero.
Strategic Decision-Making in a Bargaining Scenario
Match each role or outcome in the ultimatum game with its corresponding description.
Analyzing the Proposer's Strategy in a Bargaining Game
Evaluating the Impact of Intentionality on Bargaining Outcomes
Analyzing the Impact of Competition on Bargaining Outcomes
Interpreting Experimental Bargaining Results