The results of Ultimatum Game experiments are often quoted as evidence for the role of fairness in bargaining or in … economic behaviour more generally. This paper argues that the observed fairness levels are contingent on the traditional … experiment shows that average behaviour is more competitive and conflict rates are higher when subjects play against the same …

lack structural information, which contrasts with common notions of fairness or "manners" in ultimatum bargaining (Camerer …

split the resource equally almost always. However, the equal split is not due to 'true fairness' (or 'altruism') but is …

experiment reveals that the model can account for some (but not all) of the behavioral regularities. In line with recent …

-announced schedule de facto acts as a commitment not to adjust in intermediate periods. We find that at short horizons gains from such … commitment outweigh welfare costs of central bank's inaction. Second, we solve for the optimal frequency of policy adjustment and …

degrees of credibility, in which commitment and discretion become special cases of what we call quasi commitment. The monetary … policy authority is assumed to formulate optimal commitment plans, to be tempted to renege on them, and to succumb to this … from commitment accrue at relatively low levels of credibility. In our benchmark calibration, a commitment expected to last …