First-year Commerce students were asked to play an Ultimatum game where a choice had to be made over the division of R200. Offers could only be made in R20 increments, and the results of the various offers made are reported in the table below.

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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First-year Commerce students were asked to play an
Ultimatum game where a choice had to be made
over the division of R200. Offers could only be made
in R20 increments, and the results of the various
offers made are reported in the table below.
Amount offered by
Proposer
Proportion rejected
What is the Proposer's expected payoff when
offering R80 to the Responder?
A. R12
B. R3
C. R102
D. R68
E. R18
RO
R20 R40 R60 R8OR100
100%85%70%60%15%0%
Transcribed Image Text:First-year Commerce students were asked to play an Ultimatum game where a choice had to be made over the division of R200. Offers could only be made in R20 increments, and the results of the various offers made are reported in the table below. Amount offered by Proposer Proportion rejected What is the Proposer's expected payoff when offering R80 to the Responder? A. R12 B. R3 C. R102 D. R68 E. R18 RO R20 R40 R60 R8OR100 100%85%70%60%15%0%
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