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Are We As Rational As We Think? Bringing Rationality Versus Equality Preferences into the Classroom

Advances in Business Research

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Title Are We As Rational As We Think? Bringing Rationality Versus Equality Preferences into the Classroom
 
Creator Gatzke, Shayna; University of Arkansas - Fort Smith
Wollscheid, Jim; University of Arkansas - Fort Smith
 
Subject Business
Education; Rationality; Gaming;
 
Description The Ultimatum Game examines the relationship between profit maximization and fairness in our decision making process. The setup: two players, a proposer and a responder divide an amount of money between them. The predicted outcome is a result where the proposer offers $1 to the responder and keeps the rest with the responder accepting the offer. The game introduces that monetary gain may not be the only force behind people’s decision making process while introducing the ideas of fairness and equality. The game results seem to disprove the theory that people behave rationally, or economically speaking in their own self-interest.
 
Publisher Tarleton State University and the University of Arkansas - Fort Smith
 
Contributor —
 
Date 2012-12-05
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Articles
Descriptive;
 
Format application/pdf
 
Identifier http://journals.sfu.ca/abr/index.php/abr/article/view/87
 
Source Advances in Business Research; Vol 3, No 1 (2012); 72-78
2641-5208
2153-6511
 
Language eng
 
Relation http://journals.sfu.ca/abr/index.php/abr/article/view/87/61
 
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