Table 2.

Correlation between Bs' second-order empirical expectations on A, Bs' empirical expectations on other Bs and Bs' behavior.

	Message		Exit		Message & Exit
	On As	On other Bs	On As	On other Bs	On As	On other Bs
EXIT
Coefficient	–	–	0.054	0.058	0.085	0.215
(p-value)	–	–	(0.736)	(0.719)	(0.598)	(0.181)
ROLL
Coefficient	0.487***	0.240	0.024	0.048	−0.105	0.147
(p-value)	(0.001)	(0.141)	(0.881)	(0.767)	(0.518)	(0.363)
DON'T ROLL
Coefficient	−0.487***	−0.240	−0.065	−0.087	0.055	−0.267
(p-value)	(0.001)	(0.141)	(0.687)	(0.591)	(0.733)	(0.094)

^***p < 0.01.