Ultimatum bargaining is one of the most frequently cited and investigated games in economics today. In addition to a simple structure of the game, implications that games yield regarding social utility, decision making by economic agents, contracts, irrational choice, and fairness may account for its popularity. This study introduces ultimatum game and does meta-analysis by reorganizing published studies and their findings. Experimental economics has contributed to the development of ultimatum games. The fact that experimental economists have been awarded a Nobel prize suggest that experimental economics plays an important role in economics today. This study also summarizes some factors that researchers have to bear in mind in carrying out experiments in the lab. More focus and effort need to be directed to the field of ultimatum bargaining and experiments in economics. key words: Ultimatum Bargaining Game, Experimental Economics, Economic Education