Journal of Economic Perspectives: Vol. 2 No. 4 (Fall 1988)


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Anomalies: The Ultimatum Game

Article Citation

Thaler, Richard H. 1988. "Anomalies: The Ultimatum Game." Journal of Economic Perspectives, 2(4): 195-206.

DOI: 10.1257/jep.2.4.195


This paper discusses simple ultimatum games, two-stage bargaining ultimatum games, and multistage ultimatum games. Finally, I discuss ultimatums in the market. Any time a monopolist (or monopsonist) sets a price (or wage), it has the quality of an ultimatum.

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Thaler, Richard H. (Unlisted)

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011: General Economics


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