Table 1. Student and self-selection biases on behavior.
| DG | UG | UG-DG | MAO | TG trustor | TG trustee | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| i | ii | iii | iv | v | vi | |||||||
| students | −0.060* (0.032) | −0.067 (0.044) | 0.007 (0.015) | −0.006 (0.021) | 0.054** (0.021) | 0.047 (0.030) | −0.039 (0.105) | −0.079 (0.165) | −0.167 (0.152) | −0.242 (0.198) | −0.083 (0.143) | −0.034 (0.191) |
| volunteers | 0.039 (0.026) | 0.036 (0.024) | 0.023 (0.015) | 0.016 (0.016) | −0.010 (0.019) | −0.013 (0.019) | 0.019 (0.092) | 0.000 (0.112) | 0.196* (0.101) | 0.159 (0.103) | 0.239** (0.094) | 0.266** (0.117) |
| students × volunteers | 0.013 (0.052) | 0.027 (0.027) | 0.013 (0.039) | 0.077 (0.201) | 0.149 (0.259) | −0.096 (0.268) | ||||||
| R2 | 0.0941 | 0.0943 | 0.0223 | 0.0224 | 0.0600 | 0.0604 | 0.1012 | 0.1013 | ||||
| LR | 3.80*** | 3.79*** | 1.46** | 1.46** | 5.81*** | 5.68*** | 56.02*** | 56.60*** | 78.49*** | 81.52*** | 98.87*** | 98.20*** |
Notes: The dependent variables are (i) the fraction offered in DG; (ii) the fraction offered in UG; (iii) the fraction offered in UG - the fraction offered in DG; (iv) the minimum acceptable offer as a fraction of the pie in UG; (v) TG decision as a trustor - 1 if (s)he makes the loan, zero otherwise; and (vi) TG decision as a trustee - 1 if (s)he returns part of the loan, zero otherwise. Models i and ii are Tobit regressions, model iii is an OLS regression; model iv is an ordered probit regression, while the last two models are Probit regressions. N = 765 in all regressions. Controls are: age, gender, education, household income, social capital, risk preferences, time preferences, and cognitive abilities. The variables are explained in depth in the supplementary materials. All models are also controlling for order effects. All the likelihood ratios (LR) shown correspond to Chi2 statistics, except for column iii, where they are based on F. Robust SE clustered by interviewer (108 groups) and presented in brackets. *, **, *** indicate significance at the 0.10, 0.05 and 0.01 levels, respectively.