The ________ game is a common game that behavioral economists use in an experimental setting to study how fairness enters into the rational decision-making process.
A) ultimatum
B) prisoner's dilemma
C) behavioral economics
D) gambler's dilemma
E) hawk-dove

Question

Quizplus · Accepted Answer

The ultimatum game is specifically designed to study how fairness affects rational decision-making. In this game, one player is given a sum of money and must propose how to divide it with the other player. The other player can either accept or reject the proposal. If they accept, the money is divided as proposed, but if they reject, neither player receives anything. This game allows researchers to study how people weigh their desire for financial gain against their sense of fairness and justice.

The ________ Game Is a Common Game That Behavioral Economists