[I]ncreasing the multiplier on amount sent by the “trustor” from two to three decreases the amount of money returned by the receiver by a little over one standard deviation. This means that, at least in part, second movers take into account the ‘‘size of the pie’’ by adjusting downwards what they return to the senders.
From a meta-analysis of trust game results by Johnson and Mislin (2011): ungated link.
