I almost agree with this analysis. But it is slightly off. The elephant in the room is that the people who made this outcome possible are the same idiots who keep voting for the politicians who run errands for the 1%. If they wanted a bigger slice of the pie, they would be concerned about Panama papers and stuff like that. Sure, people vote emotionally, and the dumber the people, the more emotional is the vote. That is why Brexit proponents painted the “Leave” vote as a way to keep bloody foreigners out of the old Blighty. So, the important notion here is not so much a case of the ultimatum game, but a lower form of crab mentality: what these idiots want is not a bigger slice of the pie, they just don’t want foreigners to have any.