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

Guy, Tatiana Valentine; Kárný, Miroslav

Number of the records: 1

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

1.

SYSNO ASEP	0445755
Document Type	A - Abstract
R&D Document Type	The record was not marked in the RIV
R&D Document Type	Není vybrán druh dokumentu
Title	Theoretical models of decision-making in the Ultimatum Games: Fairness vs. Reason
Author(s)	Guy, Tatiana Valentine (UTIA-B)_{RID, ORCID} Kárný, Miroslav (UTIA-B)_{RID, ORCID}
Number of authors	2
Source Title	The 5th International Conference on Cognitive Neurodynamics (ICCN2015), Program & Abstract Book. - Sanya : The Chinese Society of Theoretical and Applied Mechanics, 2015 / Wang R. ; Pan X. S. 88
Number of pages	1 s.
Publication form	Medium - C
Action	The 5th International Conference on Cognitive Neurodynamics (ICCN2015)
Event date	3.6.2015-7.6.2015
VEvent location	Sanya, Hainan Province
Country	CN - China
Event type	WRD
Language	eng - English
Country	CN - China
Keywords	decision-making ; ultimatum game ; fairness
Subject RIV	BB - Applied Statistics, Operational Research
R&D Projects	GA16-09848S GA ČR - Czech Science Foundation (CSF)
Institutional support	UTIA-B - RVO:67985556
Annotation	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.
Workplace	Institute of Information Theory and Automation
Contact	Markéta Votavová, votavova@utia.cas.cz, Tel.: 266 052 201.
Year of Publishing	2016

Number of the records: 1