In this paper we report the results of additional exchange ultimatum game experiments conducted at the same time as the exchange ultimatum game experiments reported in Hoffman et al. (Games and Economic Behavior, 7(3), pp. 346–380, 1994). In these additional experiments, we use...

We use numerical methods to compute Nash equilibrium (NE) bid functions for four agents bidding in a first-price auction. Each bidder i is randomly assigned: ri ɛ [0, rmax], where 1 − ri is the Arrow-Pratt measure of constant relative risk aversion. Each ri is independently drawn from...

Recent research argues “betrayal aversion” leads many people to avoid risk more when a person, rather than nature, determines the outcome of uncertainty. However, past studies indicate that factors unrelated to betrayal aversion, such as loss aversion, could contribute to differences between...