Research Article
Preference for Efficiency or Confusion? A Note on a Boundedly Rational Equilibrium Approach to Individual Contributions in a Public Good Game
Table 3
Heterogeneous subjects (all and last rounds).
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This table reports estimates and predictions from two specifications of the model with efficiency concerns accounting for cross subject heterogeneity in the value of . The analysis is conducted both by including all experimental rounds and by focusing on the last five repetitions only. Parameters are estimated through (6). Given the linear restriction , we only report estimates of . Confidence intervals are computed using an inversion of the likelihood-ratio statistic, at the 0.01 level, subject to parameter constraints. |