The Ultimatum Game and the Law of Demand

The Ultimatum Game and the Law of Demand

This note shows that experimental results of the ultimatum game are consistent with and can be explained by the Law of Demand. Salaries of major league baseball players and estimates of their net marginal revenue while the reserve clause was in effect impressively confirm this assertion.

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Bibliographische Detailangaben
Veröffentlicht in:The Economic journal (London) 1995-11, Vol.105 (433), p.1519-1523
1. Verfasser: Telser, L. G.
Format: Artikel
Sprache:eng
Schlagworte:
Athletes
Baseball
Commodities
Demand
Economic theory
Fairness
Game theory
Games
Income elasticity of demand
Law of demand
Marginal revenue products
Negotiations
Professional baseball
Risk aversion
Studies
Supply & demand
Ultimatum game
Wages & salaries
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Beschreibung
Zusammenfassung:This note shows that experimental results of the ultimatum game are consistent with and can be explained by the Law of Demand. Salaries of major league baseball players and estimates of their net marginal revenue while the reserve clause was in effect impressively confirm this assertion.
ISSN:0013-0133
1468-0297
DOI:10.2307/2235114