Economists Have Used the Ultimatum Game and the Dictator Game

question 279

Multiple Choice

Economists have used the ultimatum game and the dictator game in experiments designed to determine

• A)whether consumers care about fairness when they make decisions.
• B)whether consumers believe it is fair for producers to raise the price of a product for which there is excess demand.
• C)whether consumers understand the difference between implicit costs and explicit costs.
• D)whether consumers understand the rule of equal marginal utility per dollar spent.

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Definitions:

Moral Development

Changes in thoughts, feelings, and behaviors regarding standards of right and wrong.

Theory

An interrelated, coherent set of ideas that helps to explain and make predictions.

Interviews

A formal or informal approach to gather information from individuals through direct questioning.

Developmentalists

Researchers or practitioners who study the growth and development of humans throughout the lifespan, focusing on physical, cognitive, and emotional changes.