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The Effect of Stakes in Distribution Experiments

Author

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  • Jeffrey Carpenter

    ()

  • Eric Verhoogen
  • Stephen Burks

Abstract

We replicate previous results showing that stakes do not affect offers in the Ultimatum Game and show that stakes also have no effect on allocations in the Dictator Game. Both results are robust to the inclusion of demographic factors.

Suggested Citation

  • Jeffrey Carpenter & Eric Verhoogen & Stephen Burks, 2003. "The Effect of Stakes in Distribution Experiments," Middlebury College Working Paper Series 03-28, Middlebury College, Department of Economics.
  • Handle: RePEc:mdl:mdlpap:03-28
    as

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    File URL: http://www.middlebury.edu/services/econ/repec/mdl/ancoec/0328.pdf
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    References listed on IDEAS

    as
    1. Hoffman Elizabeth & McCabe Kevin & Shachat Keith & Smith Vernon, 1994. "Preferences, Property Rights, and Anonymity in Bargaining Games," Games and Economic Behavior, Elsevier, vol. 7(3), pages 346-380, November.
    2. Hans P. Binswanger, 1980. "Attitudes Toward Risk: Experimental Measurement in Rural India," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, pages 395-407.
    3. Camerer, Colin F & Hogarth, Robin M, 1999. "The Effects of Financial Incentives in Experiments: A Review and Capital-Labor-Production Framework," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 7-42, December.
    4. Glenn W. Harrison & John A. List, 2004. "Field Experiments," Journal of Economic Literature, American Economic Association, pages 1009-1055.
    5. Vesna Prasnikar & Alvin E. Roth, 1992. "Considerations of Fairness and Strategy: Experimental Data from Sequential Games," The Quarterly Journal of Economics, Oxford University Press, vol. 107(3), pages 865-888.
    6. Meyer, Heinz-Dieter, 1992. "Norms and self-interest in ultimatum bargaining: The prince's prudence," Journal of Economic Psychology, Elsevier, vol. 13(2), pages 215-232, June.
    7. Hoffman, Elizabeth & McCabe, Kevin A & Smith, Vernon L, 1996. "On Expectations and the Monetary Stakes in Ultimatum Games," International Journal of Game Theory, Springer;Game Theory Society, vol. 25(3), pages 289-301.
    8. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December.
    9. Forsythe Robert & Horowitz Joel L. & Savin N. E. & Sefton Martin, 1994. "Fairness in Simple Bargaining Experiments," Games and Economic Behavior, Elsevier, vol. 6(3), pages 347-369, May.
    10. Burks, Stephen V. & Carpenter, Jeffrey P. & Verhoogen, Eric, 2003. "Playing both roles in the trust game," Journal of Economic Behavior & Organization, Elsevier, vol. 51(2), pages 195-216, June.
    11. Robert Slonim & Alvin E. Roth, 1998. "Learning in High Stakes Ultimatum Games: An Experiment in the Slovak Republic," Econometrica, Econometric Society, vol. 66(3), pages 569-596, May.
    12. Carpenter, Jeffrey P. & Burks, Stephen V. & Verhoogen, Eric, 2004. "Comparing Students to Workers: The Effects of Social Framing on Behavior in Distribution Games," IZA Discussion Papers 1341, Institute for the Study of Labor (IZA).
    13. Sefton, Martin, 1992. "Incentives in simple bargaining games," Journal of Economic Psychology, Elsevier, vol. 13(2), pages 263-276, June.
    14. Cameron, Lisa A, 1999. "Raising the Stakes in the Ultimatum Game: Experimental Evidence from Indonesia," Economic Inquiry, Western Economic Association International, vol. 37(1), pages 47-59, January.
    15. repec:feb:artefa:0090 is not listed on IDEAS
    16. Thaler, Richard, 1980. "Toward a positive theory of consumer choice," Journal of Economic Behavior & Organization, Elsevier, vol. 1(1), pages 39-60, March.
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    More about this item

    Keywords

    ultimatum game; dictator game; stakes; fairness; altruism;

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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