The effect of emotion in an ultimatum game: The bio-feedback evidence
In neoclassical economics, Rational Choice Theory states that individuals always make prudent and rational decisions provided with the greatest benefits. In Ultimatum Game, the proposer (Player I) proposes how to split a sum of money. The responder (Player II) decides to accept or reject the proposal. If the responder accepts, the sum is splitted as proposed; otherwise, neither player can receive money. One of the results shows that some “unfair” offers are often rejected, which implies the effect of emotion in an economic decision-making. In this research, a special Ultimatum Game has been designed to collect bio-feedback evidence for emotion in an economic decision-making using the Galvanic Skin Response (GSR) sensor. Also, an Ultimatum Game with computer simulation had been designed to collect bio-feedback results when the sum of money is in virtual points offered by a computer.
Communications in Computer and Information Science
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He, Yifan and Tang, Tiffany Y., "The effect of emotion in an ultimatum game: The bio-feedback evidence" (2017). Kean Publications. 1672.