Rational decision-making process choosing fairness over monetary gain as decision criteria

PDF Version Also Available for Download.

Description

Article on rational decision-making process choosing fairness over monetary gain as decision criteria.

Physical Description

8 p.

Creation Information

Tam, Nicoladie D. March 6, 2015.

Context

This article is part of the collection entitled: UNT Scholarly Works and was provided by UNT College of Arts and Sciences to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 20 times . More information about this article can be viewed below.

Who

People and organizations associated with either the creation of this article or its content.

Author

Publisher

Provided By

UNT College of Arts and Sciences

The UNT College of Arts and Sciences educates students in traditional liberal arts, performing arts, sciences, professional, and technical academic programs. In addition to its departments, the college includes academic centers, institutes, programs, and offices providing diverse courses of study.

Contact Us

What

Descriptive information to help identify this article. Follow the links below to find similar items on the Digital Library.

Degree Information

Description

Article on rational decision-making process choosing fairness over monetary gain as decision criteria.

Physical Description

8 p.

Notes

Abstract: Objective: This study tests the hypothesis that the decision-making process in humans is often based on the fairness rather than the monetary gain/loss, when they are confronted with a choice between fairness and monetary gain/loss. Methods: The classical Ultimatum Game (UG) is used as the experimental paradigm to quantify the threshold crossover-point to switch the decision from rejection to acceptance. The fairness stimulus-response function is used for quantifying the decision threshold and the co-variation relationship between fairness and monetary gain/loss. Results: The results show that the level of fairness perception is always 27.5% lower for the rejection decision than the acceptance decision, irrespective of the offer-ratio (i.e., monetary gain/loss) or the baseline level of fairness for that decision. The data also show a co-variation relationship between fairness and offer-ratio (monetary gain/loss), but such proportionality relationship is decoupled at the even-split singularity point. The analysis shows that the decision crossover threshold is located at a slightly unfair perception, indicating tolerance to some unfairness in the decision. This suggests that a rejection decision is made when the unfairness perception threshold is reached. Conclusion: These analyses validated the hypothesis that the decision to accept/reject the monetary offer is logically consistent using the fairness criterion as the threshold for decision along the fairness-axis — even for accepting inequitable offers or rejecting hyper-equitable offers, irrespective of the amount of monetary gain/loss. The apparent decision based on the monetary gain/loss criterion is only a side effect of the co-variation between fairness and monetary gain.

Source

  • Psychology and Behavioral Sciences, 2015, New York: Science Publishing Group, pp. 16-23

Language

Item Type

Identifier

Unique identifying numbers for this article in the Digital Library or other systems.

Publication Information

  • Publication Title: Psychology and Behavioral Sciences
  • Volume: 3
  • Issue: 6-1
  • Page Start: 16
  • Page End: 23
  • Pages: 8
  • Peer Reviewed: Yes

Collections

This article is part of the following collection of related materials.

UNT Scholarly Works

Materials from the UNT community's research, creative, and scholarly activities and UNT's Open Access Repository. Access to some items in this collection may be restricted.

What responsibilities do I have when using this article?

When

Dates and time periods associated with this article.

Creation Date

  • March 6, 2015

Added to The UNT Digital Library

  • July 9, 2015, 6:19 a.m.

Usage Statistics

When was this article last used?

Yesterday: 0
Past 30 days: 2
Total Uses: 20

Interact With This Article

Here are some suggestions for what to do next.

Start Reading

PDF Version Also Available for Download.

Citations, Rights, Re-Use

Tam, Nicoladie D. Rational decision-making process choosing fairness over monetary gain as decision criteria, article, March 6, 2015; [New York, New York]. (digital.library.unt.edu/ark:/67531/metadc674055/: accessed August 19, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT College of Arts and Sciences.