Table 1.
Participant | Gain |
Loss |
||||
---|---|---|---|---|---|---|
α | λ | Log-likelihood | α | λ | Log-likelihood | |
1 | 0.12 | 0.02 | −3.60 | 0.12 | 0.02 | −5.75 |
2 | 0.42 | 0.74 | −18.15 | 0.94 | 0.77 | −12.15 |
3 | 0.53 | 0.74 | −16.30 | 0.71 | 0.89 | −16.96 |
4 | 0.74 | 0.03 | −8.38 | 0.75 | 0.03 | −9.12 |
5 | 0.13 | 0.02 | −3.60 | 0.73 | 0.03 | −3.60 |
6 | 0.33 | 0.02 | −5.74 | 0.54 | 0.47 | −9.39 |
7 | 0.12 | 0.02 | −9.56 | 0.13 | 0.02 | −5.74 |
8 | 0.12 | 0.02 | −5.74 | 0.33 | 0.02 | −5.74 |
9 | 0.12 | 0.02 | −8.38 | 0.13 | 0.02 | −9.56 |
10 | 0.17 | 0.85 | −20.71 | 0.13 | 0.02 | −7.28 |
11 | 0.56 | 0.81 | −17.36 | 1.11 | 0.03 | −0.00 |
12 | 0.33 | 0.03 | −9.12 | 0.47 | 0.43 | −9.38 |
13 | 0.33 | 0.50 | −14.04 | 0.44 | 0.73 | −17.34 |
14 | 0.34 | 0.03 | −3.60 | 0.34 | 0.03 | −3.60 |
15 | 0.74 | 0.03 | −5.75 | 0.76 | 0.03 | −5.74 |
16 | 0.21 | 0.02 | −0.00 | 0.32 | 0.93 | −23.41 |
17 | 0.13 | 1.11 | −24.70 | 0.20 | 1.14 | −26.02 |
18 | 0.34 | 0.03 | −7.27 | 1.07 | 0.71 | −9.39 |
The ‘envy’ parameter α reflects the degree to which an individual cares about inequality, and the ‘temperature’ parameter λ reflects decision randomness. Log-likelihoods show the goodness of fit (the closer to zero, the better the fit).