Dictator monopolies and essential goods: experimental evidence

C-Tier
Journal: Applied Economics
Year: 2015
Volume: 47
Issue: 59
Pages: 6461-6478

Authors (3)

Beckman (University of Colorado Denver) Gregory DeAngelo (not in RePEc) Smith (not in RePEc)

Score contribution per author:

0.335 = (α=2.01 / 3 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Monopolists set prices and if the good is unessential this may place the consumer in an uncomfortable position. But if the good is essential the consumer faces a pay-to-live or -die choice. Dictator and ultimatum games are superficially similar in that one game offers the right of refusal, while the other does not. The dictator monopoly is, however, not a game, and behaviour could be radically different in the market environment versus game environment. We recast the dictator game as a dictator monopoly experiment and find that the fairness characteristic of the game evaporates quickly as rounds progress.

Technical Details

RePEc Handle
repec:taf:applec:v:47:y:2015:i:59:p:6461-6478
Journal Field
General
Author Count
3
Added to Database
2026-01-24