The Ultimatum Game- Are people rational?

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This is a quick overview of The Ultimatum Game. It is a super fun activity and a great way to show that people don't just look at money when they make decisions.
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14 окт 2024

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Комментарии : 32

@ccwnoob4393 3 года назад

Econ prof at a top ten school here. I do a similar experiment except: (i) there is a curve for the course grade so students inherently compete against each other, (ii) in round one, I don't disclose the total amount that can be split, (iii) in round two, the minimum amount is disclosed, and (iii) in round three, I finally disclose the total amount

@chrisfelton7251 7 лет назад

Awesome activity I've done for years with my hs students when I teach them the game theory unit I always use candy and never tell them the type Once in a while I may have one random partnership split 10 1 dollar bills I always make it triple blind (I never know who is partnered). Finally when we debrief I always ask the students to consider how reputation, repeating games, and choice would impact the outcomes. This game is big thumbs up for free markets

@manjdilse 5 лет назад

what is the name of the game sir, i didnt understand it ...please any one who understand it please explain it step by step

@chrisfelton7251 7 лет назад

Also a great way for students to understand smith's impartial spectator and theory on moral sentiments

@Intoxicatious 4 года назад

I wonder how this game would work if the players of group B were given an offer without knowing the total (in other words, they wouldn't know how much group A would get to keep). Then the players of group B get to see and discuss each other's offer before deciding to accept or reject. It's like pay equity. Would everyone in group A just give 1 point to group B? What if each player of group A had different totals? Are there other game theory studies similar to the ultimatum game?

@paulh9809 2 года назад

Yes, research dictator game.

@JacobAClifford 7 лет назад

Have you done this activity?

@Soonalika 7 лет назад

You made me love ecn Mr.Cillford thank you :)

@JacobAClifford 7 лет назад

Awesome! I'm convinced that if more people love econ the world would be a better place. :)

@manjdilse 5 лет назад

what is the name of the game sir, i didnt understand it ...please any one who understand it please explain it step by step

@batzar1238 3 года назад

@@manjdilse did you figure it out yet?

@voltairesarmy6702 7 лет назад

Love your videos! I just read about this in a poli sci class. Maybe you could do one about prospect theory? Thanks!

@TheTrunks977 Год назад

I have one question during the throughout the experiment: can you talk with the others? Less persons talked about this little trap that you have it in a scenario.

@emiliozorrilla5188 7 лет назад

Is there a reason for all the AC DC stuff in this channel or you just like the band?

@manjdilse 5 лет назад

what is the name of the game sir, i didnt understand it ...please any one who understand it please explain it step by step

@ThePeterDislikeShow 6 лет назад

The problem with bonus points is that if grades are curved it can be perfectly rational to not take 1 bonus point if your opponent gets 9. If money is given out maybe you prefer the professor keep the money. So it's not a perfect example.

@ThePeterDislikeShow 6 лет назад

Heck I can't think of a good way to make a perfect ultimatum game. If you really think about it there has to be a 3rd party doling something out, and one may argue they prefer they keep it.

@pnewch9814 3 года назад

this is an incredible idea. nice video!

@kunallobo4136 4 года назад

Let's talk about this. Can you have rational payoffs for irrational behavior? I've heard different opinions on this.

@isaac5111 7 лет назад

Hello Mr. Cillford, i'm waiting to do my exam in 30 mins. and i encountered this difficulty, can you help me out pls? If the firm's average costs are U-shaped, why does its average variable cost curve achieve its minimum at a lower level of output than the average total cost curve? Thanks :)

@wr8756 7 лет назад

a rational person would not take 1 point knowing another student is getting 9 becauses its "free". Scoring in schools is based upon class ranking meaning if you gave everyone free 9s and free 1s those with the free "1s" would now be below the scores of people getting free 9s so it hurts them. Rationally thinking the smart students would reject all offers because the free points makes the grade system devalue the hard work they put in on homework because free points are being handed out to even those who arent doing homework...

@TheMrExemplar 6 лет назад

Rationality and People are two opposite, It's like "yes" and "no" that's how far people are from rationality

@leolindahl4514 Год назад

Interesting video! No, I believe it IS an economic choice to reject 9/1 offer. Real life is not one ultimatum game, it is hundreds of consecutive ultimatum games. By rejecting some bad deals, you send a message to your partner and force them to give you a better deal next game, or no one gets any points.

@jeroenvanbeek9318 4 года назад

Nice video

@manjdilse 5 лет назад

what is the name of the game sir, i didnt understand it ...please any one who understand it please explain it step by step

@jamesbell1613 10 месяцев назад

Shrug offer me half and you don't have to worry about it!

@pikminlord343 7 лет назад

smart

@billycat2168 4 года назад

what if half the students don't return?

@moobshooters1 7 лет назад

Hey cloof, r u still scared of me

@manjdilse 5 лет назад

what is the name of the game sir, i didnt understand it ...please any one who understand it please explain it step by step

@manjdilse 5 лет назад

what is the name of the game sir, i didnt understand it ...please any one who understand it please explain it step by step

@DTSemaphore 4 года назад

Its called the ultimatum game. There are two people - An allocator and a recipient. The allocator is given $20 for example and told they can divide the money however they like with the recipient, but if the recipient rejects, then neither party get the money. There is two main things to analyse here. It is an experiment on rationality in behavioural economics. According to traditional economics, the recipient should accept whatever they are offered because it is greater than the alternative outcome ($0), but it shows that there is more to a decision than financial gain.