Armantier, Olivier - Centre Interuniversitaire de Recherche en Analyse des … - 2006
The influence of relative wealth on fairness considerations is analyzed in an ultimatum game experiment in which … participants receive large and widely unequal initial endowments. Subjects initially demonstrate a concern for fairness. With time … however, behavior becomes at odds with both subgame perfection and fairness. Evidence of learning is detected for both …
