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Ultimatum Bargaining Behavior in Israel, Japan, Slovenia, and the United States: A Social Utility Analysis

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  • Costa-Gomes, Miguel
  • Zauner, Klaus G.

Abstract

We 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 proposers’ earnings in all countries. Proposers have negative regard for responders’ monetary earnings in countries where responders have high negative regard for proposers’ earnings (USA and Slovenia). In countries where responders have low negative regard for proposers’ earnings (Israel and Japan), proposers are expected payoff maximizers.

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 34 (2001)
Issue (Month): 2 (February)
Pages: 238-269

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Handle: RePEc:eee:gamebe:v:34:y:2001:i:2:p:238-269

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Web page: http://www.elsevier.com/locate/inca/622836

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References

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  1. Roth, Alvin E. & Erev, Ido, 1995. "Learning in extensive-form games: Experimental data and simple dynamic models in the intermediate term," Games and Economic Behavior, Elsevier, vol. 8(1), pages 164-212.
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  3. G. Bolton, 2010. "A comparative model of bargaining: theory and evidence," Levine's Working Paper Archive 263, David K. Levine.
  4. Alvin E. Roth & V. Prasnikar & M. Okuno-Fujiwara & S. Zamir, 1998. "Bargaining and market behavior in Jerusalem, Liubljana, Pittsburgh and Tokyo: an experimental study," Levine's Working Paper Archive 344, David K. Levine.
  5. Forsythe Robert & Horowitz Joel L. & Savin N. E. & Sefton Martin, 1994. "Fairness in Simple Bargaining Experiments," Games and Economic Behavior, Elsevier, vol. 6(3), pages 347-369, May.
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  11. Zauner, Klaus G., 1999. "A Payoff Uncertainty Explanation of Results in Experimental Centipede Games," Games and Economic Behavior, Elsevier, vol. 26(1), pages 157-185, January.
  12. J. Ochs & Alvin E. Roth, 1998. "An experimental study of sequential bargaining," Levine's Working Paper Archive 331, David K. Levine.
  13. Hoffman, Elizabeth & McCabe, Kevin A & Smith, Vernon L, 1996. "On Expectations and the Monetary Stakes in Ultimatum Games," International Journal of Game Theory, Springer, vol. 25(3), pages 289-301.
  14. Bolton Gary E. & Zwick Rami, 1995. "Anonymity versus Punishment in Ultimatum Bargaining," Games and Economic Behavior, Elsevier, vol. 10(1), pages 95-121, July.
  15. Colin F. Camerer, 1997. "Progress in Behavioral Game Theory," Journal of Economic Perspectives, American Economic Association, vol. 11(4), pages 167-188, Fall.
  16. Burnell, Stephen J. & Evans, Lewis & Yao, Shuntian, 1999. "The Ultimatum Game: Optimal Strategies without Fairness," Games and Economic Behavior, Elsevier, vol. 26(2), pages 221-252, January.
  17. Anderson, Simon P. & Goeree, Jacob K. & Holt, Charles A., 1998. "A theoretical analysis of altruism and decision error in public goods games," Journal of Public Economics, Elsevier, vol. 70(2), pages 297-323, November.
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