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A Cash Effect in Ultimatum Game Experiments

Author

Listed:
  • Junyi Shen

    (Research Institute for Economics & Business Administration (RIEB), Kobe University, Japan)

  • Hiromasa Takahashi

    (Faculty of International Studies, Hiroshima City University, Japan)

Abstract

This paper reports two experiments involving an ultimatum game, conducted in Japan. There were two treatments in our experiments. One was called a cash session and the other was called a point session. The cash session means introducing cash into the ultimatum game. In other words, in a cash session, subjects bargained money in cash but not points or tokens as most prior experiments did. We found that compared to those in the point sessions, proposers offered more and responders rejected less in the cash sessions. These evidences imply that a cash effect does exist in the ultimatum game experiments.

Suggested Citation

  • Junyi Shen & Hiromasa Takahashi, 2013. "A Cash Effect in Ultimatum Game Experiments," Discussion Paper Series DP2013-13, Research Institute for Economics & Business Administration, Kobe University.
  • Handle: RePEc:kob:dpaper:dp2013-13
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    File URL: http://www.rieb.kobe-u.ac.jp/academic/ra/dp/English/DP2013-13.pdf
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    References listed on IDEAS

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    Cited by:

    1. Dustin P. Calvillo & Jessica N. Burgeno, 2015. "Cognitive reflection predicts the acceptance of unfair ultimatum game offers," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 10(4), pages 332-341, July.
    2. Hiromasa Takahashi & Junyi Shen & Kazuhito Ogawa, 2016. "Gender-specific Reference-dependent Preferences in an Experimental Trust Game," Discussion Paper Series DP2016-09, Research Institute for Economics & Business Administration, Kobe University.
    3. Junyi Shen & Hiromasa Takahashi, 2017. "The tangibility effect of paper money and coins in an investment experiment," Economics and Business Letters, Oviedo University Press, vol. 6(1), pages 1-5.

    More about this item

    Keywords

    Cash effect; Ultimatum game; Cost-loss discrepancy; Experimental design;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior

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