The Ultimatum Game and the Law of Demand
This note shows that experimental results of the ultimatum game are consistent with and can be explained by the law of demand. Salaries of major league baseball players and estimates of their net marginal revenue while the reserve clause was in effect impressively confirm this assertion. Copyright 1995 by Royal Economic Society.
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Volume (Year): 105 (1995)
Issue (Month): 433 (November)
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