Johnson, Eric J.; Camerer, Colin; Sen, Sankar; Rymon, Talia - California Institute of Technology, Division of the … - 1998
We ran three-round sequential bargaining experiments in which the perfect equilibrium offer was $1.25 and an equal split was $2.50. Subjects offered $2.11 to other subjects, $1.84 to "robot" players (who are known to play subgame perfectly), and $1.22 to robots after instruction in backward...