Table 2. Model family comparison: Relative log-group Bayes factors.
| Relative log-group Bayes factors (smaller is better) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Family 1 | Family 2 | Family 3 | |||||||
| Moments without pstarve | Rank-dependent utility | Moments and pstarve | |||||||
| Model | Model | Model | Model | Model | Model | Model | Model | Model | |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | |
| EV | EV | EV | EV | Prelec-I | Prelec-II | EV | EV | EV | |
| Var | Skw | Var | pstarve | Var | Var | ||||
| Skw | pstarve | Skw | |||||||
| pstarve | |||||||||
| All | 0 | -1333 | -1984 | -2032 | -2154 | -2148 | -2191 | -2167 | -2126 |
| Foraging | 0 | -884 | -1390 | -1437 | -1466 | -1390 | -1511 | -1532 | -1569 |
| Casino | 0 | -709 | -945 | -967 | -1040 | -1023 | -1062 | -1044 | -970 |
| Foraging-block 1 | 0 | -472 | -683 | -696 | -734 | -679 | -781 | -751 | -741 |
| Foraging-block 2 | 0 | -412 | -661 | -729 | -725 | -689 | -751 | -737 | -773 |
| Casino-block 1 | 0 | -363 | -451 | -456 | -488 | -465 | -518 | -487 | -439 |
| Casino-block 2 | 0 | -342 | -519 | -507 | -525 | -463 | -565 | -537 | -487 |
For a fixed-effects analysis, log-group Bayes factors based on BIC were calculated relative to the simplest model (Model 1). Smaller log-group Bayes factors indicate more evidence for the respective model versus the baseline model. The log-group Bayes factors of the winning models according to fixed-effects analyses are written in bold font. The models included free parameters for the respective variables listed. BIC, Bayesian information criterion; EV, expected value; Var, variance; Skw, skewness; pstarve starvation probability