Abstract
The influence of personal establishment and satisfaction has been the theoretical influence underlying conventional economics since proposed by Adam Smith. Results from many previous ultimatum experiments, which dictate that both parties must mutually agree on an ultimatum in order to win the game, often contradict the theories and ideals presented by conventional economic models. In this replication of the ultimatum experiment, instead of a minimal amount of $10 as the evaluating increment as used by past experiments, we have examined college students’ allocation decisions when presented the estimated cost of food for an entire month. This data will then be compared to traditional experiments to determine if students continue to value the social perceived characteristic of fairness when offered a financially significant amount of money.
Recommended Citation
Flowers, Ethan; Wiser, Matthew J.; and Chow, Alan F.
(2023)
"Food or Fairness? An Ultimatum Game Concerning A College Student’s Budget,"
Journal of Business, Industry, and Economics: Vol. 28, Article 1.
Available at:
https://roar.una.edu/jobie/vol28/iss1/1