We have located links that may give you full text access.
Emotions and Strategic Behaviour: The Case of the Ultimatum Game.
PloS One 2016
Human behaviour in economic interactions has attracted an increasing amount of attention over the last decades. The economic assumption that people would behave focusing on their own material self-interest was proved incomplete, once the empirical evidence consistently showed that many other motives may influence such behaviour. Therefore, models that can incorporate rational decision process as well as other intervening factors are a key issue to both understand the observations from economic experiments and to apply the lessons learned from them. In this paper, we incorporate the influence of emotions to the utility function in an explicit manner, using the Ultimatum Game as a case study. Our model is amenable to analytical study, and is connected with the Circumplex model of emotions and with Kahneman's two-system theory. The simplicity of the model allows to obtain predictions for the offers and acceptance thresholds. We study two specific examples, when the model parameters are distributed uniformly or normally, and show that in the latter case the results are already qualitatively correct. Although this work can be considered as a first approach, it includes what we believe are the main stylized facts, is able to qualitatively reproduce experimental results in a very simple manner, and can be straightforwardly extended to other games.
Full text links
Related Resources
Trending Papers
Challenges in Septic Shock: From New Hemodynamics to Blood Purification Therapies.Journal of Personalized Medicine 2024 Februrary 4
Molecular Targets of Novel Therapeutics for Diabetic Kidney Disease: A New Era of Nephroprotection.International Journal of Molecular Sciences 2024 April 4
The 'Ten Commandments' for the 2023 European Society of Cardiology guidelines for the management of endocarditis.European Heart Journal 2024 April 18
A Guide to the Use of Vasopressors and Inotropes for Patients in Shock.Journal of Intensive Care Medicine 2024 April 14
Diagnosis and Management of Cardiac Sarcoidosis: A Scientific Statement From the American Heart Association.Circulation 2024 April 19
Essential thrombocythaemia: A contemporary approach with new drugs on the horizon.British Journal of Haematology 2024 April 9
Get seemless 1-tap access through your institution/university
For the best experience, use the Read mobile app
All material on this website is protected by copyright, Copyright © 1994-2024 by WebMD LLC.
This website also contains material copyrighted by 3rd parties.
By using this service, you agree to our terms of use and privacy policy.
Your Privacy Choices
You can now claim free CME credits for this literature searchClaim now
Get seemless 1-tap access through your institution/university
For the best experience, use the Read mobile app