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Modelling Transactions with Ultimatum Games: An Experiment on Certification

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Author Info
Gerardo A. Guerra

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Abstract

Ultimatum games have been extensively used in experimental studies. By studying the consequences that restrictions shared by ultimatum games have in subject`s behaviour, this paper argues that some results are falsified by design constraints. This paper also presets a taxonomy of certification, and provides experimental evidence supporting the commonly observed use of rankings in certificates, as well as the restriction of awareness by certifiers to increase revenue. Regulatory implications are discussed.

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Publisher Info
Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 087.

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Date of creation: 2002
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Handle: RePEc:oxf:wpaper:087

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Related research
Keywords: ultimatum bargaining experiments certification asymmetric information

Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
D18 - Microeconomics - - Household Behavior - - - Consumer Protection
D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software

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This page was last updated on 2008-11-17.

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