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We propose a dynamic three-strategy symmetric model of the Ultimatum Game with players using a sampling procedure. We allow an intermediate strategy, interpreted as a social norm, to evolve in time according to beliefs of players about an average offer. We show that a social norm converges to a...
Persistent link: https://www.econbiz.de/10011001898
Persistent link: https://www.econbiz.de/10008775967
cornerstone of contract theory. We have conducted an experiment with 720 participants to explore whether the theoretical insights …
Persistent link: https://www.econbiz.de/10011110481
cornerstone of contract theory. We have conducted an experiment with 720 participants to explore whether the theoretical insights …
Persistent link: https://www.econbiz.de/10011084433
subjectively colored, recollection of the initial ultimatum game experiment, its motivation and the immediate responses. Second, we …
Persistent link: https://www.econbiz.de/10011116852
for this observation. By conducting a non-computer-based laboratory experiment, we created an environment, in which … that resulting contracts between the investors and entrepreneurs in the experiment on average imposed most of the financial …
Persistent link: https://www.econbiz.de/10010986138
In three-party ultimatum games, the proposer can first decide whether to exclude one responder, which increases the available pie. The experiments control for intentionality of exclusion and veto power of the third party. We do not find evidence for indirect reciprocity of the remaining...
Persistent link: https://www.econbiz.de/10011051321
We present a three-player game in which a proposer makes a suggestion on how to split $10 with a passive responder. The oer is accepted or rejected depending on the strategy prole of a neutral third-party whose payos are independent from his decisions. If the oer is accepted the split takes...
Persistent link: https://www.econbiz.de/10010937254
groups, fragmentation will not outperform a less fragmented society concerning compensation costs. An experiment is conducted …
Persistent link: https://www.econbiz.de/10005635347
Aspiration-based evolutionary dynamics have recently been used to model the evolution of fair play in the ultimatum game showing that incredible threats to reject low offers persist in equilibrium. We focus on two extensions of this analysis: we experimentally test whether assumptions about...
Persistent link: https://www.econbiz.de/10005636242