Are We As Rational As We Think? Bringing Rationality Versus Equality Preferences into the Classroom
Keywords:
Education, Rationality, Gaming,Abstract
The Ultimatum Game examines the relationship between profit maximization and fairness in our decision making process. The setup: two players, a proposer and a responder divide an amount of money between them. The predicted outcome is a result where the proposer offers $1 to the responder and keeps the rest with the responder accepting the offer. The game introduces that monetary gain may not be the only force behind people’s decision making process while introducing the ideas of fairness and equality. The game results seem to disprove the theory that people behave rationally, or economically speaking in their own self-interest.Downloads
Published
2012-12-05
Issue
Section
ABR Journal Articles
License
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
