________ is an experiment that tests the significance of fairness in consumer decision making.
A)The fairness challenge
B)The consumer choice paradigm
C)The ultimatum game
D)The Giffen paradox

Question

Quizplus · Accepted Answer

The ultimatum game is a widely used experiment in which one participant is given a sum of money and is asked to split it with another player. The other player can either accept or reject the offer. If they reject it, both players receive nothing. This game tests the significance of fairness in consumer decision making, as the second player's decision to accept or reject the offer often depends on whether they feel the split is fair or not.

________ Is an Experiment That Tests the Significance of Fairness