Journal of Economic Perspectives: Vol. 2 No. 4 (Fall 1988)
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Anomalies: The Ultimatum Game
Thaler, Richard H. 1988. "Anomalies: The Ultimatum Game." Journal of Economic Perspectives, 2(4): 195-206.
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)
011: General Economics
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