Cognitive ability and human behavior in experimental ultimatum games

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We investigate the relationship between decisions made in experimental ultimatum games and the cognitive ability of participants (students and adults aged 20s–80s). We find that the relationship between the offer amount and cognitive ability is quadratic and concave: a sender with lower cognitive ability offers about 25% of the endowment compared with 50% and 40% for senders with middle and high cognitive ability, respectively. However, we find no relationship between receiver behavior and cognitive ability. These findings suggest that cognitive ability plays an important role when a participant faces a more strategic role.

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