Unequal Outside Options in the Lost Wallet Game

Maroš Servátka and Radovan Vadovic ()

Working Papers in Economics from University of Canterbury, Department of Economics and Finance

Abstract: Experimental evidence suggests the size of the foregone outside option of the first mover does not affect the behavior of the second mover in the lost wallet game. In this paper we experimentally compare the behavior of subjects when they face an outside option with unequal payoffs, i.e., the first mover gets 10 and the second mover gets 0, and when they face an outside option with equal payoffs, i.e., both get 5. Consistent with the most of the literature we do not find a significant difference in behavior of second movers.

Keywords: Experimental economics; fairness; inequality; lost wallet game; outside option (search for similar items in EconPapers)
JEL-codes: C72 C78 C91 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2009-10-16
New Economics Papers: this item is included in nep-cbe, nep-exp, nep-gth and nep-soc
References: Add references at CitEc
Citations: View citations in EconPapers (6)

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Journal Article: Unequal outside options in the lost wallet game (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:cbt:econwp:09/14

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