Which of the following is an experiment which tests whether fairness is important in consumer decision making?
A)the fair trade principle
B)the ultimatum game
C)the preferential treatment game
D)the behavioral experiment

Question

Quizplus · Accepted Answer

The ultimatum game is an experiment used to test whether fairness is important in decision making. In this game, two players are given a sum of money and one player (the proposer) is asked to divide it between them. The other player (the responder) can either accept or reject the proposed division. If they accept, they both get their share according to the proposal. If they reject, both players receive nothing. This experiment shows that responders are more likely to reject unfair proposals, indicating that fairness is important in decision making. The other options either do not relate to consumer decision making or are not specifically designed to test for fairness.

Which of the Following Is an Experiment Which Tests Whether