To state: The results that experiments with the ultimatum game show the typical participant.
Explanation of Solution
The ultimatum game is defined as a game wherein one player, the proposer is bestowed with a sum of money. The proposer is given the task of splitting it with the other player, known as the responder. When the proposer states his decision, the responder can either reject it or accept it. In case the responder accepts, the money is divided as per the proposal; in case the responder rejects, both players will get nothing. Both players know in advance the results of the responder rejecting or accepting the offer.
The ultimatum game is significant from a sociological perspective, as it demonstrates the human reluctance to accept injustice. The inclination to reject small offers may also be seen as important to the concept of honor.
Chapter EMB Solutions
Krugman's Economics For The Ap® Course
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education