Results of the ultimatum game indicate that most people value fairness enough that they will refuse to participate in a transaction they consider unfair, even if they are worse off financially as a result.

Question

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The statement accurately summarizes the findings of the ultimatum game, which is a laboratory experiment used in behavioral economics to study decision-making and fairness. The game involves two players, where one proposes a split of a sum of money and the other can either accept or reject the proposed split. If the split is accepted, both players receive their respective shares. However, if the split is rejected, neither player gets any money. Studies have shown that proposers tend to offer a relatively equitable split, and responders tend to reject disproportionately unfair offers. This suggests that people have a strong preference for fairness and are willing to forgo material gains to express their disapproval of unfairness.

Results of the Ultimatum Game Indicate That Most People Value