1. The ultimatum game involves two players dividing a fixed amount, with the first player proposing a division and the second deciding to accept or reject.
2. Early experiments found people offered more, around 40-50% of the amount, inconsistent with the rational prediction of minimal offers being accepted.
3. Further experiments explored factors like fairness, rejection fears, and information in bargaining, finding both explanations valid and information promoting fairness.
1. The ultimatum game involves two players dividing a fixed amount, with the first player proposing a division and the second deciding to accept or reject.
2. Early experiments found people offered more, around 40-50% of the amount, inconsistent with the rational prediction of minimal offers being accepted.
3. Further experiments explored factors like fairness, rejection fears, and information in bargaining, finding both explanations valid and information promoting fairness.
presentation of CHARACTERISTICS OF THE CONSUMERS MARKET, this presentation is suitable for students and lecturers in the department of production management and marketing, industrial engineering etc.
presentation of CHARACTERISTICS OF THE CONSUMERS MARKET, this presentation is suitable for students and lecturers in the department of production management and marketing, industrial engineering etc.
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