Tests of Fairness Models Based on Equity Considerations in a Three-Person Ultimatum Game |
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Authors: | John H. Kagel Katherine Willey Wolfe |
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Affiliation: | (1) Department of Economics, Ohio State University, 410 Arps Hall, 1945 North High St., 43210-1172 Columbus, OH, USA;(2) Department of Economics, University of Pittsburgh, Posvar Hall, 230 S. Bouquet St., 15260 Pittsburgh, PA, USA |
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Abstract: | Two recent models incorporating fairness considerations into the economics literature based on agents' concerns about the distribution of payoffs between themselves and others (Fehr-Schmidt, 1999,Quarterly Journal of Economics. 114 (3), 769–816; Bolton-Ockenfels, 2000,American Economic Review. 90, 166–193) are investigated using a new three-person ultimatum game: One person allocates a sum of money to two others, one of which is randomly chosen to accept or reject the offer. Rejection gives both the responder and the proposer zero income and a positive consolation prize for the non-responder. The data show essentially no reductions in rejection rates, holding offers constant, with and without consolation prizes, contrary to both models' predictions. |
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Keywords: | ultimatum game income inequality aversion fairness models |
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