Exploring Ultimatum Game. On the Irrational Nature of Human Decision-Making (eBook, PDF)

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Essay from the year 2016 in the subject Business economics - General, grade: 1.7, Rhine-Waal University of Applied Sciences (Communication and Environment), language: English, abstract: This work is concerned with human irrationality, more specifically with the situation of ultimatum game within game theory. Experimental economics reports evidence of human irrationality, debates on which are of high relevance nowadays. Results of many experiments, particularly games, differ from those expected by neoclassical theory. Human behavior often goes beyond rational choice, prioritizing feelings and b...

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