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Anomalies: Ultimatums, Dictators and Manners

Camerer, Colin F. and Thaler, Richard H. (1995) Anomalies: Ultimatums, Dictators and Manners. Journal of Economic Perspectives, 9 (2). pp. 209-219. ISSN 0895-3309. http://resolver.caltech.edu/CaltechAUTHORS:20110211-085157548

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Abstract

Economics can be distinguished from other social sciences by the belief that most (all?) behavior can be explained by assuming that agents have stable, well-defined preferences and make rational choices consistent with those preferences in markets that (eventually) clear. An empirical result qualifies as an anomaly if it is difficult to "rationalize" or if implausible assumptions are necessary to explain it within the paradigm. This column will resume, after a long rest, the investigation of such anomalies.


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http://www.jstor.org/stable/2138174PublisherUNSPECIFIED
Additional Information:© 1995 American Economic Association. We would like to thank Ernst Fehr, John Kagel, Al Roth, Vernon Smith, Richard Zeckhauser and, as always, the editors for helpful comments. None should be blamed if we have been unfair or rude.
Record Number:CaltechAUTHORS:20110211-085157548
Persistent URL:http://resolver.caltech.edu/CaltechAUTHORS:20110211-085157548
Official Citation:Anomalies: Ultimatums, Dictators and Manners Colin Camerer and Richard H. Thaler The Journal of Economic Perspectives Vol. 9, No. 2 (Spring, 1995), pp. 209-219 Published by: American Economic Association Article Stable URL: http://www.jstor.org/stable/2138174
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:22127
Collection:CaltechAUTHORS
Deposited By: Tony Diaz
Deposited On:11 Feb 2011 23:22
Last Modified:26 Dec 2012 12:55

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