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Instinctive Response in the Ultimatum Game

Author Info

Listed author(s):
  • Pablo Brañas-Garza

    ()

    (Department of Economic Theory and Economic History, University of Granada.)

  • Debrah Meloso

    ()

    (Dpt. of Decision Sciences and Dondena Center, Bocconi University)

  • Luis M. Miller

    ()

    (Departamento de Fundamentos del Análisis Económico II,Facultad de Ciencias Económicas y Empresariales, Universidad del País Vasco)

Abstract

In a series of recent papers, Ariel Rubinstein claims that the study of response time sheds light on the process of reasoning involved in classical economic decision problems. In particular, he considers that a distinction can be drawn between instinc- tive and cognitive reasoning. This paper complements and expands upon Rubinstein's study on time responses. We show that strategic risk is the key element in explaining differences in median response time in ultimatum behavior.

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File URL: http://www.ugr.es/~teoriahe/RePEc/gra/wpaper/thepapers08_08.pdf
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Paper provided by Department of Economic Theory and Economic History of the University of Granada. in its series ThE Papers with number 08/08.

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Length: 14 pages
Date of creation: 20 Nov 2008
Handle: RePEc:gra:wpaper:08/08
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Fax: (34)958249995
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More information through EDIRC

Keywords: Economic experiments; Ultimatum game; Yes-or-No game; median response time.;

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Find related papers by JEL classification:
  • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior

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  1. Ariel Rubinstein, 2007. "Instinctive and Cognitive Reasoning: A Study of Response Times," Economic Journal, Royal Economic Society, vol. 117(523), pages 1243-1259, October.
  2. Isabelle Brocas & Juan D. Carrillo, 2008. "The Brain as a Hierarchical Organization," American Economic Review, American Economic Association, vol. 98(4), pages 1312-1346, September.
  3. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1986. "Fairness and the Assumptions of Economics," The Journal of Business, University of Chicago Press, vol. 59(4), pages 285-300, October.
  4. Piovesan, Marco & Wengström, Erik, 2009. "Fast or fair? A study of response times," Economics Letters, Elsevier, vol. 105(2), pages 193-196, November.
  5. Gary Bolton, 1998. "Bargaining and Dilemma Games: From Laboratory Data Towards Theoretical Synthesis," Experimental Economics, Springer;Economic Science Association, vol. 1(3), pages 257-281, December.
  6. Guth, Werner, 1995. "On ultimatum bargaining experiments -- A personal review," Journal of Economic Behavior & Organization, Elsevier, vol. 27(3), pages 329-344, August.
  7. Geanakoplos, John & Pearce, David & Stacchetti, Ennio, 1989. "Psychological games and sequential rationality," Games and Economic Behavior, Elsevier, vol. 1(1), pages 60-79, March.
  8. Rubinstein, Ariel, 2008. "Comments On Neuroeconomics," Economics and Philosophy, Cambridge University Press, vol. 24(03), pages 485-494, November.
  9. Greiner, Ben, 2004. "An Online Recruitment System for Economic Experiments," MPRA Paper 13513, University Library of Munich, Germany.
  10. Battigalli, Pierpaolo & Dufwenberg, Martin, 2009. "Dynamic psychological games," Journal of Economic Theory, Elsevier, vol. 144(1), pages 1-35, January.
  11. Ken Binmore, 2007. "Does Game Theory Work? The Bargaining Challenge," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262026074, July.
  12. Rabin, Matthew, 1993. "Incorporating Fairness into Game Theory and Economics," American Economic Review, American Economic Association, vol. 83(5), pages 1281-1302, December.
  13. Guth, Werner & Schmittberger, Rolf & Schwarze, Bernd, 1982. "An experimental analysis of ultimatum bargaining," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 367-388, December.
  14. Nagel, Rosemarie, 1995. "Unraveling in Guessing Games: An Experimental Study," American Economic Review, American Economic Association, vol. 85(5), pages 1313-1326, December.
  15. ATTANASI Giuseppe & NAGEL Rosemarie, 2008. "A Survey of Psychological Games: Theoretical Findings and Experimental Evidence," LERNA Working Papers 08.07.251, LERNA, University of Toulouse.
  16. Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer;Economic Science Association, vol. 10(2), pages 171-178, June.
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Cited by:

  1. Duffy, Sean & Smith, John, 2011. "Cognitive load in the multi-player prisoner's dilemma game," MPRA Paper 30856, University Library of Munich, Germany.
  2. Brice Corgnet & Antonio M. Espín & Roberto Hernán-González, 2015. "The cognitive basis of social behavior: cognitive reflection overrides antisocial but not always prosocial motives," Working Papers 15-04, Chapman University, Economic Science Institute.
  3. Pablo Brañas-Garza, 2008. "Expected Behavior in the Dictator Game," ThE Papers 08/12, Department of Economic Theory and Economic History of the University of Granada..
  4. Ubeda, Paloma, 2014. "The consistency of fairness rules: An experimental study," Journal of Economic Psychology, Elsevier, vol. 41(C), pages 88-100.
  5. Sean Duffy & Tyson Hartwig & John Smith, 2014. "Costly and discrete communication: an experimental investigation," Theory and Decision, Springer, vol. 76(3), pages 395-417, March.
  6. Maria P. Recalde & Arno Riedl & Lise Vesterlund, 2014. "Error Prone Inference from Response Time: The Case of Intuitive Generosity in Public Good Times," CESifo Working Paper Series 4987, CESifo Group Munich.
  7. Ariel Rubenstein, 2013. "Response time and decision making: An experimental study," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 8(5), pages 540-551, September.
  8. Alexander W. Cappelen & Ulrik H. Nielsen & Bertil Tungodden & Jean-Robert Tyran & Erik Wengström, 2016. "Fairness is intuitive," Experimental Economics, Springer;Economic Science Association, vol. 19(4), pages 727-740, December.
  9. Shu-Heng Chen & Ye-Rong Du & Lee-Xieng Yang, 2014. "Cognitive capacity and cognitive hierarchy: a study based on beauty contest experiments," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 9(1), pages 69-105, April.
  10. Chen, Chia-Ching & Chiu, I-Ming & Smith, John & Yamada, Tetsuji, 2013. "Too smart to be selfish? Measures of cognitive ability, social preferences, and consistency," Journal of Economic Behavior & Organization, Elsevier, vol. 90(C), pages 112-122.
  11. Duffy, Sean & Smith, John, 2014. "Cognitive load in the multi-player prisoner's dilemma game: Are there brains in games?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 51(C), pages 47-56.

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