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The Ultimatum Game and the Law of Demand

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Author Info
Telser, L G
Abstract

This note shows that experimental results of the ultimatum game are consistent with and can be explained by the law of demand. Salaries of major league baseball players and estimates of their net marginal revenue while the reserve clause was in effect impressively confirm this assertion. Copyright 1995 by Royal Economic Society.

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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 105 (1995)
Issue (Month): 433 (November)
Pages: 1519-23
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Handle: RePEc:ecj:econjl:v:105:y:1995:i:433:p:1519-23

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  1. Rami Zwick & Xiao-Ping Chen, 1999. "What Price Fairness? A Bargaining Study," Experimental 9902002, EconWPA. [Downloadable!]
  2. Andreas Nicklisch, 2004. "Express Yourself: The Price of Fairness in a Simple Distribution Game," Discussion Papers on Strategic Interaction 2004-36, Max Planck Institute of Economics, Strategic Interaction Group. [Downloadable!]
  3. White, Lucy, 2006. "Prudence in Bargaining: The Effect of Uncertainty on Bargaining Outcomes," CEPR Discussion Papers 5822, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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