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Theoretical models of decision-making in the Ultimatum Game: Fairness vs. Reason
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SYSNO ASEP 0453669 Document Type C - Proceedings Paper (int. conf.) R&D Document Type Conference Paper Title Theoretical models of decision-making in the Ultimatum Game: Fairness vs. Reason Author(s) Guy, Tatiana Valentine (UTIA-B) RID, ORCID
Kárný, Miroslav (UTIA-B) RID, ORCID
Villa, A. P. (CH)
Lintas, A. (CH)Source Title Advances in Cognitive Neurodynamics (V), Proceedings of the Fifth International Conference on Cognitive Neurodynamics - 2015. - Singapur : Springer-Verlag, 2016 / Wang Rubin ; Pan Xiaochuan - ISSN 2213-3569 - ISBN 978-981-10-0205-2 Pages s. 185-191 Number of pages 6 s. Publication form Print - P Action ICCN 2015 Event date 03.06.2015-07.06.2015 VEvent location Sanya Country CN - China Event type WRD Language eng - English Country SG - Singapore Keywords fairness ; rationality ; Ultimatum game ; decision making Subject RIV BB - Applied Statistics, Operational Research R&D Projects GA13-13502S GA ČR - Czech Science Foundation (CSF) Institutional support UTIA-B - RVO:67985556 UT WOS 000387956200026 DOI 10.1007/978-981-10-0207-6_26 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) [1]. However, economy, sociology and neurology communities repeatedly claim nonrationality of the human behaviour [2], 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
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