Table 5.
Category-Salience Treatment Effects Excluding Subjects Skeptical About Payments, Experiment 2
| Panel A: Log Interest Rate | |||||
|---|---|---|---|---|---|
| Whites |
Native blacks |
Immigrant blacks |
Men |
Women |
|
| Social Category Salient | −0.7006* (0.3184) | −0.6919 (0.4074) | −0.3800 (0.3454) | −0.4524 (0.3960) | −0.0925 (0.3967) |
| 1 Week vs. 2 Weeks | −0.1964 (0.1468) | −0.0943 (0.2228) | 0.0968 (0.3586) | −0.4452 (0.2289) | 0.1797 (0.2271) |
| UMich | −0.3345 (0.3012) | −0.1665 (0.5126) | −0.3111 (0.5760) | −0.6460 (0.3728) | −0.0089 (0.3928) |
| 1 Week vs. 2 Weeks × UMich | 0.0348 (0.2163) | 0.0519 (0.2954) | 0.9917 (0.5141) | 0.3709 (0.2735) | −0.4447 (0.2943) |
| Constant | −2.3958** (0.2317) | −1.6564** (0.2967) | −2.4392** (0.3570) | −1.8242** (0.2663) | −3.0606** (0.3521) |
| σ̂ | 1.7736 (0.1291) | 1.4725 (0.2079) | 1.0918 (0.1386) | 1.4852 (0.1626) | 1.7317 (0.1554) |
| N | 272 | 84 | 56 | 152 | 160 |
| Panel B: Risk Premium | |||||
| Whites |
Native blacks |
Immigrant blacks |
Men |
Women |
|
| Social Category Salient | −0.0583 (0.0507) | 0.2298** (0.0778) | −0.1062 (0.0887) | −0.0888 (0.0725) | −0.1133 (0.0674) |
| Larger Stakes | 0.3098** (0.0488) | 0.0442 (0.0920) | 0.1088 (0.0741) | 0.3027** (0.0658) | 0.0938 (0.0660) |
| UMich | −0.0083 (0.0493) | 0.0332 (0.1171) | 0.1101 (0.0868) | −0.0522 (0.0684) | −0.1616* (0.0628) |
| Larger Stakes × UMich | −0.0308 (0.0673) | 0.2042 (0.1480) | 0.0915 (0.2166) | −0.0383 (0.0972) | 0.1596 (0.0929) |
| Constant | 0.2091** (0.0413) | 0.0474 (0.0818) | 0.0919 (0.0832) | 0.2171** (0.0511) | 0.3025** (0.0554) |
| σ̂ | 0.3986 (0.0196) | 0.4087 (0.0391) | 0.3513 (0.0525) | 0.4047 (0.0272) | 0.3961 (0.0256) |
| N | 374 | 118 | 80 | 208 | 214 |
Notes: This table presents interval regressions where the latent dependent variable is the log continuously compounded interest rate required to defer payment receipt or the risk premium required to accept a gamble. We pool each subject’s two intertemporal choices together and each subject’s two risk choices together. Social Category Salient is a dummy for the race-salience treatment (first three columns) or the gender-salience treatment (last two columns). 1 Week vs. 2 Weeks is a dummy for if the intertemporal choice was between payments deferred for one week versus two weeks. Larger Stakes is a dummy for if the sure payout in the risky choice was $100. UMich is a dummy for whether the subject was recruited at the University of Michigan. The estimated conditional standard deviation of the latent dependent variable is denoted by σ̂. Huber-White standard errors, clustered by subject, are reported in parentheses below the point estimates. The final row of each panel reports the number of choices in the regressions.
Significant at the 5 percent level.
Significant at the 1 percent level.