Theoretical models of decision-making in the Ultimatum Games: Fairness vs. Reason

0445755 - ÚTIA 2016 CN eng A - Abstract
Guy, Tatiana Valentine - Kárný, Miroslav
Theoretical models of decision-making in the Ultimatum Games: Fairness vs. Reason.
The 5th International Conference on Cognitive Neurodynamics (ICCN2015). Sanya: The Chinese Society of Theoretical and Applied Mechanics, 2015 - (Wang, R.; Pan, X.). s. 88
[The 5th International Conference on Cognitive Neurodynamics (ICCN2015). 3.6.2015-7.6.2015, Sanya, Hainan Province]
R&D Projects: GA ČR GA16-09848S
Institutional support: RVO:67985556
Keywords : decision-making * ultimatum game * fairness
Subject RIV: BB - Applied Statistics, Operational Research
http://library.utia.cas.cz/separaty/2015/AS/guy-0445755.pdf

According to Game Theory a human subject playing the Ultimatum Game should choose more for oneself and offer the least amount possible for co-players (assumption of selfish rationality). However, economy, sociology and neurology communities repeatedly claim non-rationality of the human behaviour, i.e deviation from the rational strategy determined by the game theory, following the observation that responders reject offers they find too low and proposers often offer more than the smallest amount, thus suggesting that humans' behaviour is significantly influenced by social norms. We also assume human rationality, but our model describes a human-responder via decision process with a reward function respecting fairness as much as the economic profit. This model is positively tested against a set of original experimental data, thus providing an insight into human's motivation as a social being.
Permanent Link: http://hdl.handle.net/11104/0248268