行为金融学11课后习题答案.docVIP

PAGE 2 | Page PAGE ?2010 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly available website, in whole or in part. CHAPTER 11: Discussion Questions and Problems 1. Differentiate the following terms/concepts: a. Dictator and ultimatum games In a dictator game the first player (the proposer) decides how to split an endowment and the second player (the responder) takes a passive role. In contrast, the responder in an ultimatum game can reject an offer that is viewed as unfair. b. Trust and reciprocity When we trust another we are exposing ourselves to some risk by giving them power over an outcome, whereas reciprocity is how we respond to someone who has made a decision that impacts us. c. Conformity and groupthink Conformity is to give into real or imagined social pressure. Groupthink is an extreme form of identity in which the members of a group lose their ability to make individual decisions. d. Economic man and real people Economic man is purely self-interested, whereas real people often indicate that their preferences are affected by other factors, including the welfare of others. 2. Discuss the merits of the following statement: The evidence clearly indicates that proposers in dictator games care about fairness because they send responders more than they have to. In the ultimatum game, responders reject positive offers viewed as unfair and proposers’ behavior may indicate a taste for fairness as they, on average, send more than the minimum offer. The dictator game was proposed as an extension to the ultimatum game because proposers may behave strategically and offer more than the minimum if they anticipate the retaliation of the responders in the dictator game. The dictator game separates fairness and strategy because the responder is totally passive. Results indicate that while strategic concerns play a role, subjects also care about fairness. 3. In 1962, U.S. President John F.