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