Are young children better economists than the average adult?
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When playing the Ultimatum Game, you might think so:
Via Secrets of the Moneylab: How Behavioral Economics Can Improve Your Business:
Most of the older children, second graders and sixth graders alike, played the game just as adults do, all of them making fair offers and usually rejecting unfair offers. But the kindergartners played very differently: 60 percent of them proposed unfair offers and, when put in the role of Responder, only 20 percent of them rejected an unfair offer. In words, most of them acted just as rational and self-interested economic agents would…
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