Two political candidates are standing for election as mayor, and the key issue is how much to spend on the Australia Day fireworks. Forty voters want to spend $30 000, 30 voters want to spend

$10 000, and 30 voters want to spend nothing at all. What is the winning position on this issue?

a $10 000 b $15 000 c $20 000 d $30 000 6 The experiment called the Ultimatum Game illustrates that people a are overconfident in their own abilities b play the Nash equilibrium in strategic situations c care about fairness, even to their own detriment d make inconsistent decisions over time