NDLI: Information acquisition in the ultimatum game: An experimental study

Content Provider	Springer Nature Link
Author	Poulsen, Anders U. Tan, Jonathan H. W.
Copyright Year	2006
Abstract	We experimentally investigate if free information disadvantages a player relative to when information is unavailable. We study an Ultimatum game where the Proposer, before making an offer, can obtain free information about the Responder's minimum acceptable offer. Theoretically, the Proposer should obtain the information and play a best reply to the Responder's minimum acceptable offer. Thus the Responder should get the largest share of the surplus. We find that an increasing number of Proposers become informed over time. Moreover, the proportion of Proposers who use the information to maximize money earnings increases over time. The majority of information-acquiring Proposers, however, refuse to offer more than one-half and play a best reply only to Responders who accept offers of one-half or less. This, together with a substantial proportion of Proposers who choose to remain uninformed, means that the availability of free information backfires for Proposers only by a little.
Starting Page	391
Ending Page	409
Page Count	19
File Format	PDF
ISSN	13864157
Journal	Experimental Economics
Volume Number	10
Issue Number	4
e-ISSN	15736938
Language	English
Publisher	Springer US
Publisher Date	2007-02-15
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Information acquisition Ultimatum game Fairness Inequity aversion Operations Research/Decision Theory Public Finance & Economics Microeconomics Methodology and the History of Economic Thought Economic Theory
Content Type	Text
Resource Type	Article
Subject	Economics, Econometrics and Finance

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
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3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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