Table 4. Estimated parameter values for different model versions using the data of experiments with 40 rounds and 60 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 |
0.0069 |
0.485 |
0.440 |
0.260 |
| ρ |
0.639 |
0.909 |
0.607 |
- |
| χ |
-0.987 |
0.898 |
0.587 |
- |
| λ |
-(1) |
0.888 |
0.887 |
0.875 |
| δ |
-(1) |
0.773 |
0.722 |
0.082 |
| κ |
-(1) |
0.021 |
0.027 |
0.005 |
| θ |
-(0) |
-(0) |
0.472 |
- |
| η |
-(0) |
-(0) |
0.473 |
- |
| lnL |
-6062.6 |
-4754.6 |
-4730.4 |
-4970.8 |
| AIC |
12131.2 |
9521.2 |
9476.8 |
9949.6 |
| BIC |
12146.9 |
9552.6 |
9518.7 |
9970.6 |
| | |
|