Table 4. Relationship between 3 ^rd party punishments and HRV in the DG.

	DG1	DG2	DG3
Decision-	0.37*	0.19†	0.29*
	(0.15)	(0.10)	(0.13)
Individual Effects	Yes	Yes	Yes
N	111	103	112

Note: Results of fixed-effects regressions of HRV during the punishment decision on the (binary) decision to punish. The average HRV across all participants for the corresponding decisions was 2.58. Specifications DG1-3 use alternative measures HRV . DG1 uses the direct measure at the moment of decision making, DG2 and DG3 normalize this value by the average individual during the experiment and the round, respectively. Standard errors (clustered by individuals) are in brackets. **p < 0.01, * p < 0.05, ^†p < 0.1.