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The Ultimatum Game and the Law of Demand

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  • Telser, L G
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    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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    Bibliographic 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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    Cited by:
    1. Rami Zwick & Xiao-Ping Chen, 1999. "What Price Fairness? A Bargaining Study," Management Science, INFORMS, vol. 45(6), pages 804-823, June.
    2. Andreas Nicklisch, 2004. "Express Yourself: The Price of Fairness in a Simple Distribution Game," Papers on Strategic Interaction 2004-36, Max Planck Institute of Economics, Strategic Interaction Group.
    3. White, Lucy, 2006. "Prudence in Bargaining: The Effect of Uncertainty on Bargaining Outcomes," CEPR Discussion Papers 5822, C.E.P.R. Discussion Papers.
    4. Pelnar, Gregory, 2007. "Antitrust Analysis of Sports Leagues," MPRA Paper 5382, University Library of Munich, Germany.
    5. Robert Slonim & Alvin E. Roth, 1998. "Learning in High Stakes Ultimatum Games: An Experiment in the Slovak Republic," Econometrica, Econometric Society, vol. 66(3), pages 569-596, May.
    6. Frank, Bjorn, 1998. "Good news for experimenters: subjects do not care about your welfare," Economics Letters, Elsevier, vol. 61(2), pages 171-174, November.
    7. Bühren, Christoph & Frank, Björn & Krabel, Stefan & Werner, Alexander, 2012. "Decision-making in competitive framings—Strategic behavior of chess players in mini-ultimatum game chess puzzles," Economics Letters, Elsevier, vol. 115(3), pages 356-358.
    8. White, Lucy, 2008. "Prudence in bargaining: The effect of uncertainty on bargaining outcomes," Games and Economic Behavior, Elsevier, vol. 62(1), pages 211-231, January.

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