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Ultimatum Games and Wages: Evidence of an “Implicit Bargain”?

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  • Kerstin Pull

Abstract

In this paper, I argue that both ultimatum game outcomes and wages may be in¬fluenced by what the result of a bargain would have been: The players in the ultimatum game, just as the parties to the labor contract, seem to engage in what may be called an “implicit” or, in Selten' s words, an “imaginary” bargain. In determining ultimatum game outcomes, assuming an implicit bargain can account for the experimental evidence on the role of responder bargaining power. Moreover, the implications of the implicit bar¬gain for the wage setting process are compatible with the stylized facts of wage determination.

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Bibliographic Info

Article provided by LMU Munich School of Management in its journal Schmalenbach Business Review.

Volume (Year): 55 (2003)
Issue (Month): 2 (April)
Pages: 161-171

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Handle: RePEc:sbr:abstra:v:55:y:2003:i:2:p:161-171

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Keywords: Ultimatum Game; Wage Determination; Nash Bargain.;

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Cited by:
  1. Siegfried K. Berninghaus & Werner Güth & Charlotte Klempt & Kerstin Pull, 2013. "Assessing Mental Models via Recording the Decision Deliberations of Pairs," Jena Economic Research Papers 2013-012, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  2. Maarten C.W. Janssen, 2006. "On the Strategic Use of Focal Points in Bargaining Situations," Tinbergen Institute Discussion Papers 06-040/1, Tinbergen Institute.
  3. Janssen, Maarten C.W., 2006. "On the strategic use of focal points in bargaining situations," Journal of Economic Psychology, Elsevier, vol. 27(5), pages 622-634, October.

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