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We have performed a classical ultimatum game experiment in an open, non-anonymous setting among Thai students including a survey of the participants' value, risk-taking behavior and decision motives. The major findings are: (1) Stated minimum oIers the responder is willing to accept are very well in accordance with the predictions of the theory of reciprocity by Falk and Fischbacher [10]. (2) Acceptance rates in the real game showed a large discrepancy with the former indicating an almost non-reciprocating behavior for small oIers. (3) These acceptance rates can't be explained by any of the characteristics from the survey. (4) Stated fairness is a good explanatory variable for the acceptance rates. The findings suggest that reciprocation, although clearly reproducible, is not as stable and basic an underlying reason for behavior than fairness.

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