Which Study Introduced the Ultimatum Game

question 3

Multiple Choice

Which study introduced the Ultimatum Game?

• A) Guth et al. (1992)
• B) Axelrod & Hamilton (1981)
• C) Fishbacher et al. (2001)
• D) Berg et al. (1995)

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Definitions:

Rational Choice

A theory in economics that assumes individuals always make prudent and logical decisions that provide them with the highest amount of personal utility.

Costs and Benefits

An analysis approach that compares the total costs and total benefits associated with a particular action or decision to determine its feasibility or worth.

Predictable Ways

Methods or patterns that can be anticipated or expected based on previous observations or known properties.

Incentives Matter

A principle that highlights the importance of rewards and penalties in influencing human behaviour and decisions in economics.