Table 1.
Impact of DD over UG strategies and expected payoffs.
| Dependent vars. | Offer | MAO | Offer-MAO | Own payoff | Other’s payoff |
|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | |
| Short-run DD | -0.0294 | 0.0428∗ | -0.0722∗∗ | -0.0115 | -0.0252∗ |
| (0.157) | (0.052) | (0.024) | (0.131) | (0.053) | |
| Long-run DD | -0.0324∗∗ | 0.0393∗ | -0.0717∗∗∗ | 0.0018 | -0.0269∗∗∗ |
| (0.041) | (0.051) | (0.004) | (0.785) | (0.009) | |
| Combined DD | -0.0437∗∗ | 0.0581∗∗ | -0.1018∗∗∗ | -0.0070 | -0.0369∗∗∗ |
| (0.038) | (0.017) | (0.002) | (0.404) | (0.006) | |
| Highdd vs. lowDD | -0.0281∗ | 0.0431∗∗∗ | -0.0711∗∗∗ | -0.0069 | -0.0231∗∗ |
| (0.052) | (0.005) | (0.001) | (0.215) | (0.013) |
The estimated coefficients for different DD characterizations as explanatory variables are shown in rows. Dependent variables are expressed as a fraction of the pie (€20). Each estimate refers to a different OLS regression with robust standard errors clustered by interviewer (108 groups) and controlling for age, gender, married, household income, educational level, mathematical cognitive abilities, risk preferences, and order effects. N = 713, except for the last row where n = 488. oxP-values are shown in brackets (two-tailed). ∗P < 0.10, ∗∗P < 0.05, ∗∗∗P < 0.01. The complete regressions are presented in Supplementary Tables S1–S4.