The ultimatum game and the dictator game are used in economic experiments to test whether fairness is an important influence on consumer decision-making
Indicate whether the statement is true or false
TRUE
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The new growth theory was developed by ________ and proposes that ________
A) Thomas Malthus; increases in population drive wages to their subsistence level B) Ben Bernanke; changes in the money supply drive economic growth C) Paul Romer; the desire for profits drives increases in real GDP per person D) Adam Smith; markets will determine the appropriate economic growth rate E) Robert Solow; increases in technology growth are responsible for economic growth
Refer to Scenario 12.2. In this game, there is (are)
A) 4 Nash equilibria. B) 2 Nash equilibria. C) 1 Nash equilibrium. D) zero Nash equilibria.
High income economies, with only about one-sixth of the world's population, produced more than one-third the world's output
Indicate whether the statement is true or false
In reality, commercial banks function most like ____ of the district Federal Reserve Banks.
A. stockholders B. regulators C. customers D. competitors