Ultimatum Bargaining Behavior in Israel, Japan, Slovenia, and the United States: A Social Utility Analysis
AbstractWe explain the main features of the results of the four-country ultimatum bargaining experiments of Roth, Prasnikar, Okuno-Fujiwara, and Zamir (1991) by a social utility model. The specification of social utility of a player has two parts: a linear combination of the monetary payoffs of the proposer and the responder, and payoff uncertainty. We find that, on average, responders have negative regard for proposersâ earnings in all countries. Proposers have negative regard for respondersâ monetary earnings in countries where responders have high negative regard for proposersâ earnings (USA and Slovenia). In countries where responders have low negative regard for proposersâ earnings (Israel and Japan), proposers are expected payoff maximizers.
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Bibliographic InfoArticle provided by Elsevier in its journal Games and Economic Behavior.
Volume (Year): 34 (2001)
Issue (Month): 2 (February)
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Web page: http://www.elsevier.com/locate/inca/622836
Other versions of this item:
- Miguel Costa-Gomes & Klaus G. Zauner, . "Ultimatum Bargaining Behavior in Israel, Japan, Slovenia and the United States: A Social Utility Analysis," Discussion Papers 00/37, Department of Economics, University of York.
- A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
- C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other
- C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D - Microeconomics
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