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Impunity Game
The impunity game is a simple game in experimental economics, similar to the Dictator Game. The first player "the proposer" chooses between two possible divisions of some endowment (such as a cash prize): #The first choice will be a very unequal division, giving most of the endowment to themself, and sharing little with the second player (the partner or the "responder"). #The second choice is a more even division, giving a "fair" proportion of the initial pie to the responder, and keeping the rest for themself. The second and final move of the game is in the hands of the responder: he can accept or reject the amount offered. Unlike the ultimatum game The ultimatum game is a popular experimental economics game in which two players interact to decide how to divide a sum of money, first described by Nobel laureate John Harsanyi in 1961. The first player, the proposer, proposes a division of the ..., this has no effect on the proposer, who always keeps the share she originally a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Experimental Economics
Experimental economics is the application of experimental methods to study economic questions. Data collected in experiments are used to estimate effect size, test the validity of economic theories, and illuminate market mechanisms. Economic experiments usually use cash to motivate subjects, in order to mimic real-world incentives. Experiments are used to help understand how and why markets and other exchange systems function as they do. Experimental economics have also expanded to understand institutions and the law (experimental law and economics). A fundamental aspect of the subject is design of experiments. Experiments may be conducted in the field or in laboratory settings, whether of individual or group behavior. Variants of the subject outside such formal confines include natural and quasi-natural experiments. Experimental topics One can loosely classify economic experiments using the following topics: * Markets * Games * Evolutionary game theory * Decision making * Bar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dictator Game
In social psychology and economics, the dictator game is a popular experimental instrument a derivative of the ultimatum game. It involves a single decision by the "dictator" player: given an amount of money, how much to keep and how much to send to another player. Although the "dictator" has the most power, the game has mixed results based on different behavioral attributes. The results – where most dictators choose to send money – evidence the role of fairness and norms in economic behavior, and undermine the assumption of narrow self-interest when given the opportunity to maximise one's own profits. Description The dictator game is a derivative of the ultimatum game, in which one player (the proposer) provides a one-time offer to the other (the responder). The responder can choose to either accept or reject the proposer's bid, but rejecting the bid would result in both players receiving a payoff of 0. In the dictator game, the first player, "the dictator", determines how to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ultimatum Game
The ultimatum game is a popular experimental economics game in which two players interact to decide how to divide a sum of money, first described by Nobel laureate John Harsanyi in 1961. The first player, the proposer, proposes a division of the sum with the second player, the responder. The responder can either accept the proposed division or reject it. If the responder accepts, the money is split according to the proposal; if the responder rejects, neither player receives anything. Both players know in advance the rules of the game. The game is typically designed as a one-shot interaction to isolate immediate reactions to fairness, thereby minimizing the influence of potential future interactions. However, even within this one-shot context, participants' decision-making processes may implicitly involve considering the potential consequences of repeated interactions, due to the fact that humans have evolved within societies that interact repeatedly. This design is crucial for o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
