Examlex
MATCHING
Match the person or term with the with the correct description.
-Daniel Shays
Dictator Game
Rephrased: An experiment in behavioral economics where an individual (termed the "dictator") decides the allocation of a certain resource or amount of money between themselves and a second participant, without any enforceable consequences.
Ultimatum Game
A game in experimental economics where a proposer is given a sum of money to split with a responder; if the responder rejects the offer, both players get nothing, highlighting negotiation and fairness perceptions.
Invisible Hand
A metaphor introduced by Adam Smith to describe the self-regulating nature of the marketplace, where individuals' pursuit of self-interest inadvertently benefits society at large.
Neoclassical Economists
Economists dedicated to analyzing how goods, outputs, and distribution of income in markets are dictated by supply and demand forces.
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