L7 Ultimatum
Empirical Results in the Ultimatum Game are in violent conflict with neoclassical utility maximization theory. The goal of this lecture is to explain the conflicts, in order to show how this theory can be rejected.
The essence of the lecture is contained in my post on the WEA Pedagogy BLog: Behavioral vs Neoclassical Economics -- (shortLink: bit.do/azultima). Relevant materials are linked in the post. The Video Lecture is linked below.
L10: Comments on Varian - Link explains how Varian justifies utility maximization in micro textbook, and exposes the fallacy of this justification
Behavioral vs Neoclassical Economics - The key post for this lecture
Adv Micro L7: Conflict between Utility Max and Ultimatum Game - Video Recording of lecture