Advanced Search
MyIDEAS: Login

Heartbeat and Economic Decisions: Observing Mental Stress among Proposers and Responders in the Ultimatum Bargaining Game

Contents:

Author Info

  • Uwe Dulleck
  • Markus Schaffner
  • Benno Torgler

Abstract

In line with experimental economics' goal of better understanding human economic decision making, early research on the ultimatum bargaining game (see Schmittberger, and Schwarze 1982) demonstrated that motives other than pure monetary reward play a role. More recently, the development of of neuroeconomic research techniques has allowed physiological reactions to be recorded as signals of emotional response. In this study, we apply heart rate variability (HRV) to explore the behaviour and physiological reactions during the ultimatum bargaining game of not only responders but also proposers. Because this technology is small and non-intrusive, we are able to run our experiment using a standard experimental economic setup. We find that low offers by a proposer cause signs of mental stress in both the proposer and the responder; that is, both exhibit high ratios of low to high frequency activity in the HRV spectrum.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://external-apps.qut.edu.au/business/documents/QuBEWorkingPapers/2013/WP001.pdf
Download Restriction: no

Bibliographic Info

Paper provided by QUT Business School in its series QuBE Working Papers with number 003.

as in new window
Length:
Date of creation: 14 Jan 2013
Date of revision:
Handle: RePEc:qut:qubewp:wp003

Contact details of provider:
Web page: http://www.qut.edu.au/research/research-projects/queensland-behavioural-economics-group-qube

Related research

Keywords:

Other versions of this item:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Armin Falk & Ingo Menrath & Pablo Emilio Verde & Johannes Siegrist, 2011. "Cardiovascular Consequences of Unfair Pay," SOEPpapers on Multidisciplinary Panel Data Research 380, DIW Berlin, The German Socio-Economic Panel (SOEP).
  2. B. Douglas Bernheim, 2008. "On the Potential of Neuroeconomics: A Critical (but Hopeful) Appraisal," NBER Working Papers 13954, National Bureau of Economic Research, Inc.
  3. Axel Ockenfels & Gary E. Bolton, 2000. "ERC: A Theory of Equity, Reciprocity, and Competition," American Economic Review, American Economic Association, vol. 90(1), pages 166-193, March.
  4. Dirk Engelmann & Martin Strobel, 2004. "Inequality Aversion, Efficiency, and Maximin Preferences in Simple Distribution Experiments," American Economic Review, American Economic Association, vol. 94(4), pages 857-869, September.
  5. David Hendry & Hans-Martin Krolzig, 2003. "The Properties of Automatic Gets Modelling," Economics Series Working Papers 2003-W14, University of Oxford, Department of Economics.
  6. Ben-Shakhar, Gershon & Bornstein, Gary & Hopfensitz, Astrid & van Winden, Frans, 2007. "Reciprocity and emotions in bargaining using physiological and self-report measures," Journal of Economic Psychology, Elsevier, vol. 28(3), pages 314-323, June.
  7. Politser, Peter, 2008. "Neuroeconomics: A guide to the new science of making choices," OUP Catalogue, Oxford University Press, number 9780195305821.
  8. Jordi Brandts & Orsola Garofalo, 2010. "Gender Pairings and Accountability Effect," Labsi Experimental Economics Laboratory University of Siena 034, University of Siena.
  9. Uwe Dulleck & Jonas Fooken & Cameron Newton & Andrea Ristl & Markus Schaffner & Benno Torgler, 2012. "Tax Compliance and Psychic Costs: Behavioral Experimental Evidence Using a Physiological Marker," QuBE Working Papers 001, QUT Business School.
  10. Fehr, Ernst & Schmidt, Klaus M., 1998. "A Theory of Fairness, Competition and Cooperation," CEPR Discussion Papers 1812, C.E.P.R. Discussion Papers.
  11. repec:qut:qubewp:001 is not listed on IDEAS
  12. Erte Xiao & Daniel Houser, 2005. "Emotion expression in human punishment behavior," Experimental 0504003, EconWPA, revised 18 May 2005.
  13. Jon Elster, 1998. "Emotions and Economic Theory," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 47-74, March.
  14. Richard H. Thaler, 2000. "From Homo Economicus to Homo Sapiens," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 133-141, Winter.
  15. Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer, vol. 10(2), pages 171-178, June.
  16. Raúl López-Pérez, 2010. "Guilt and shame: an axiomatic analysis," Theory and Decision, Springer, vol. 69(4), pages 569-586, October.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:qut:qubewp:wp003. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dipa Sarkar).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.