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Trust and Experimental Economics

Description: This quiz covers the concept of trust in experimental economics, including trust games, ultimatum games, and other experiments that examine how individuals make decisions in situations involving trust.
Number of Questions: 15
Created by:
Tags: experimental economics trust trust games ultimatum games behavioral economics
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In a trust game, what is the role of the trustor?

  1. The person who receives money and decides how much to return.

  2. The person who gives money to another person.

  3. The person who observes the interaction between the trustor and trustee.

  4. The person who sets the rules of the game.

Show answer
Correct Option: B
Explanation:

In a trust game, the trustor is the person who initially possesses a sum of money and decides how much of it to give to the trustee.

In a trust game, what is the role of the trustee?

  1. The person who receives money and decides how much to return.

  2. The person who gives money to another person.

  3. The person who observes the interaction between the trustor and trustee.

  4. The person who sets the rules of the game.

Show answer
Correct Option: A
Explanation:

In a trust game, the trustee is the person who receives money from the trustor and decides how much of it to return.

Which of the following is NOT a common finding in trust games?

  1. Trustors tend to send more money than trustees return.

  2. Trust is higher when the trustor and trustee are of the same gender.

  3. Trust is higher when the trustor and trustee are friends or family.

  4. Trust is higher when the amount of money involved is small.

Show answer
Correct Option: D
Explanation:

In trust games, trust is typically higher when the amount of money involved is large, not small.

In an ultimatum game, what is the role of the proposer?

  1. The person who receives money and decides how much to return.

  2. The person who gives money to another person.

  3. The person who observes the interaction between the proposer and responder.

  4. The person who sets the rules of the game.

Show answer
Correct Option: B
Explanation:

In an ultimatum game, the proposer is the person who initially possesses a sum of money and decides how much of it to offer to the responder.

In an ultimatum game, what is the role of the responder?

  1. The person who receives money and decides how much to return.

  2. The person who gives money to another person.

  3. The person who observes the interaction between the proposer and responder.

  4. The person who sets the rules of the game.

Show answer
Correct Option: A
Explanation:

In an ultimatum game, the responder is the person who receives an offer of money from the proposer and decides whether to accept or reject it.

Which of the following is NOT a common finding in ultimatum games?

  1. Responders tend to reject offers that are less than 50% of the total amount.

  2. Responders are more likely to accept offers from proposers who are of the same gender.

  3. Responders are more likely to accept offers from proposers who are friends or family.

  4. Responders are more likely to accept offers when the amount of money involved is small.

Show answer
Correct Option: C
Explanation:

In ultimatum games, responders are not typically more likely to accept offers from proposers who are friends or family.

Which of the following factors has been found to increase trust in experimental economics?

  1. Repeated interactions between the same individuals.

  2. The presence of a third-party enforcer.

  3. The use of reputation mechanisms.

  4. All of the above.

Show answer
Correct Option: D
Explanation:

All of the above factors have been found to increase trust in experimental economics.

Which of the following factors has been found to decrease trust in experimental economics?

  1. Anonymity between the individuals involved.

  2. The presence of a large power imbalance.

  3. The use of deception or betrayal.

  4. All of the above.

Show answer
Correct Option: D
Explanation:

All of the above factors have been found to decrease trust in experimental economics.

Which of the following is an example of a trust game?

  1. The Prisoner's Dilemma.

  2. The Ultimatum Game.

  3. The Dictator Game.

  4. The Centipede Game.

Show answer
Correct Option: B
Explanation:

The Ultimatum Game is an example of a trust game because it involves one player (the proposer) making an offer to another player (the responder), who can either accept or reject the offer.

Which of the following is an example of an ultimatum game?

  1. The Prisoner's Dilemma.

  2. The Ultimatum Game.

  3. The Dictator Game.

  4. The Centipede Game.

Show answer
Correct Option: B
Explanation:

The Ultimatum Game is an example of an ultimatum game because it involves one player (the proposer) making an offer to another player (the responder), who can either accept or reject the offer.

Which of the following is an example of a dictator game?

  1. The Prisoner's Dilemma.

  2. The Ultimatum Game.

  3. The Dictator Game.

  4. The Centipede Game.

Show answer
Correct Option: C
Explanation:

The Dictator Game is an example of a dictator game because it involves one player (the dictator) making a decision about how to allocate a sum of money between themselves and another player (the receiver), who has no say in the decision.

Which of the following is an example of a centipede game?

  1. The Prisoner's Dilemma.

  2. The Ultimatum Game.

  3. The Dictator Game.

  4. The Centipede Game.

Show answer
Correct Option: D
Explanation:

The Centipede Game is an example of a centipede game because it involves two players taking turns making offers to each other, with the goal of maximizing their own payoff.

What is the main difference between a trust game and an ultimatum game?

  1. In a trust game, the trustor has more power than the trustee, while in an ultimatum game, the proposer has more power than the responder.

  2. In a trust game, the trustor can choose how much money to send to the trustee, while in an ultimatum game, the proposer can only make a single offer to the responder.

  3. In a trust game, the trustee can choose how much money to return to the trustor, while in an ultimatum game, the responder can only accept or reject the proposer's offer.

  4. All of the above.

Show answer
Correct Option: D
Explanation:

All of the above are main differences between a trust game and an ultimatum game.

What is the main difference between a dictator game and a centipede game?

  1. In a dictator game, the dictator has more power than the receiver, while in a centipede game, the first player has more power than the second player.

  2. In a dictator game, the dictator can choose how much money to give to the receiver, while in a centipede game, the players take turns making offers to each other.

  3. In a dictator game, the receiver has no say in the decision, while in a centipede game, the second player can accept or reject the first player's offer.

  4. All of the above.

Show answer
Correct Option: D
Explanation:

All of the above are main differences between a dictator game and a centipede game.

How can trust be measured in experimental economics?

  1. By observing the behavior of individuals in trust games, ultimatum games, and other experiments.

  2. By asking individuals to complete surveys about their trust levels.

  3. By measuring the levels of hormones such as oxytocin and cortisol in individuals' blood.

  4. All of the above.

Show answer
Correct Option: D
Explanation:

Trust can be measured in experimental economics using a variety of methods, including observing behavior, asking surveys, and measuring hormones.

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