Güth, Werner; Levati, Maria Vittoria; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2001
In this paper we report an experimental study of the ultimatum game in which subjects bargain for constant and slowly decreasing pies, over 3 and 11 rounds with either constant or alternating offers. With decreasing pies efficiency requires early agreements, whereas constant pies allow for late...