A New Solution Concept for the Ultimatum Game leading to the Golden Ratio

@inproceedings{Schuster2017ANS,
  title={A New Solution Concept for the Ultimatum Game leading to the Golden Ratio},
  author={Stefan Schuster},
  booktitle={Scientific Reports},
  year={2017}
}
The Ultimatum Game is a paradigmatic two-player game. A proposer can offer a certain fraction of some valuable good. A responder can accept the offer or reject it, implying that the two players receive nothing. The only subgame-perfect Nash equilibrium is to only offer an infinitesimal amount and to accept this. However, this equilibrium is not in agreement with experimental observations, which show varying accepted offers around 40%. While some authors suggest that the fairest split of 50% vs… CONTINUE READING
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