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| Author: | Straub, P. Murnighan, J. |
| Title: | An experimental investigation of ultimatum games: information, fairness, expectations, and lowest acceptable offers |
| Journal: | Journal of Economic Behavior and Organization
1995 : AUG, VOL. 27:3, p. 345-364 |
| Index terms: | BARGAINING GAMES EXPECTATIONS |
| Language: | eng |
| Abstract: | The authors designed two laboratory experiments to test popular hypotheses explaining the failure to subgame-perfect equilibrium models to explain behavior in ultimatum games. The first experiment varied information available to respondents. When respondents did not know the amount being divided, offerers offered (and respondents accepted) significantly lower offers than when the respondents knew the amount being divided. The second experiment replicated this result and also showed that people occasionally reject "free" money (i.e., offers with no strings attached). |
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