What drives failure to maximize payoffs in the lab ? A test of the inequality aversion hypothesis
In experiments based on the Beard and Beil (1994) game, second movers very often fail to select the decision that maximizes both players payoff. This note reports on a new experimental treatment, in which we neutralize the potential effect of inequality aversion on the likelihood of this behavior. We show this behavior is robust to this change, even after allowing for repetition-based learning.
|Date of creation:||Jun 2011|
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|Note:||View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00611696|
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