Table 3. Estimated parameter values for different model versions using the data from experiments with 10 rounds. The model versions are defined as follows: SP = probabilistic choice with social preferences, without learning and signaling; SP+L = probabilistic choice with social preferences with learning and without signaling; SP+L+S = probabilistic choice with social preferences with learning and with signaling; and L = probabilistic choice of income maximizers with learning and without signaling. See Table 2 for a list of parameters and their definitions. InL stands for maximum likelihood, AIC for Akaike Information Criterion, and BIC for Bayesian Information Criterion.


SP
SP+L
SP+L+S
L
φ
0.033
0.260
0.276
0.231
ρ
-0.836
0.398
0.380
-(0)
χ
-0.837
0.395
0.374
-(0)
λ
-(1)
0.829
0.818
0.900
δ
-(1)
0.538
0.545
0.187
κ
-(1)
0.077
0.057
0.132
θ
-(0)
-(0)
2.05
-(0)
η
-(0)
-(0)
10
-(0)
lnL
-7038.2
-5505.7
-5495.1
-5933.1
AIC
14082.5
11023.4
11006.2
11874.2
BIC
14099.9
11058.3
11052.7
11897.4