The effect of emotion in an ultimatum game: The bio-feedback evidence

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Conference Proceeding

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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.

Publication Title

Communications in Computer and Information Science

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