Midlands State University Library
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Fairness in an Embedded Ultimatum Game by Paul Pecorino and Mark Van Boening

By: Contributor(s): Material type: TextTextSeries: The Journal of Law and Economics ; Volume 53, number 2Chicago: University of Chicago Press; 2011Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 00222186
Subject(s): LOC classification:
  • HB73 JOU
Online resources: Summary: We embed an ultimatum game in a stylized legal bargaining framework. This changes the framing of the standard ultimatum game in several ways but also moves the bargaining closer to what is found in some naturally occurring settings. In this context, the ultimatum game is played over the joint surplus, which is achieved from settlement rather than a dispute. In our embedded ultimatum game, the median offer contains only 8 percent of the joint surplus from settlement. When we replicate the simple ultimatum game, we find that 50 percent of the joint surplus is contained in the median offer
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Holdings
Item type Current library Call number Vol info Copy number Status Notes Date due Barcode
Journal Article Journal Article Main Library Journal Article HB73 JOU (Browse shelf(Opens below)) Vol. 53, no.2 (pages 263-288) SP7326 Not for loan For In House Use Only

We embed an ultimatum game in a stylized legal bargaining framework. This changes the framing of the standard ultimatum game in several ways but also moves the bargaining closer to what is found in some naturally occurring settings. In this context, the ultimatum game is played over the joint surplus, which is achieved from settlement rather than a dispute. In our embedded ultimatum game, the median offer contains only 8 percent of the joint surplus from settlement. When we replicate the simple ultimatum game, we find that 50 percent of the joint surplus is contained in the median offer

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