In this paper we review, upgrade, and synthesize existing models from evolutionary game theory, all of which aim at explaining human behaviour in the ultimatum game. Our new and improved versions of Gale et al. (1995), Nowak et al. (2000), and Rand et al. (2013) avoid shortcomings that the...

Abstract. Price floors are common policies in markets for storable goods such as commodities, bankable emissions permits, and currencies. Hard price floors are implemented as unlimited governmental buybacks and prevent the price from falling below the floor; soft floors, including those...