The findings on the ultimatum game are considered as belonging to the most robust experimental results. In this paper we present a slightly altered version of the mini ultimatum game of Bolton and Zwick (1995). Whereas in the latter exactly equal splits were feasible in our games these were...

Experimental studies have shown that trust and reciprocity are effective in increasing efficiency when complete contracting is infeasible. One example is the study by Berg et al. (1995) of the investment game. In this game the person who receives the investment is the one who may reward the...

This paper investigates the behaviour in repeated decision situations. The experimental study shows that subjects show low or no risk-aversion, but put very high value on the opportunity to sell the lottery in every stage of the decision problem. There is evidence that risk attitudes depend on...