The Ultimatum Game Reveals That

question 93

Multiple Choice

The ultimatum game reveals that

• A) it does not make sense to try to maximize profits.
• B) people may have an innate sense of fairness that economic theory does not capture.
• C) offering someone a wildly unfair outcome is usually ok since people tend to make decisions using a "something is better than nothing" philosophy.
• D) Both a and b

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Definitions:

Telling

The act of giving explicit instructions or information, often within an educational or managerial context to guide actions or decision-making.

Selling

The act of persuading someone to buy a product or service, typically involving identifying customer needs and demonstrating how a product meets them.

Delegating

The process of assigning responsibility and authority to others to carry out specific activities, while retaining accountability for the outcome.

Consultative Decision

A decision-making process where leaders seek the input and advice of their team members before making a final decision.