Fair ultimatum: an experimental study of the Myerson value
AbstractWe conduct a laboratory experiment to test the empirical behavior of the bid-and-propose mechanism, defined in Navarro and Perea (2005). This mechanism implements the Myerson value for networks, and therefore its outcome posesses fairness properties. Since the bid-and-propose mechanism includes an ultimatum game in the last stage, we design an experiment with several treatments, where subjects also play the simple ultimatum game. In order to check whether subjectsbehave fairly in the sense of Myerson or they are inequity averse, we compare resultsfrom games with symmetric and asymmetric outside options.
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Bibliographic InfoPaper provided by Université de Lausanne, Faculté des HEC, DEEP in its series Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) with number 07.05.
Length: 36 pages
Date of creation: Aug 2007
Date of revision:
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More information through EDIRC
experiments; fairness; Myerson value; ultimatum game;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-11-03 (All new papers)
- NEP-CBE-2007-11-03 (Cognitive & Behavioural Economics)
- NEP-EXP-2007-11-03 (Experimental Economics)
- NEP-GTH-2007-11-03 (Game Theory)
- NEP-SOC-2007-11-03 (Social Norms & Social Capital)
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