| Choice | |||
| Exogenous Gift-Exchange (EX-GE) | Endogenous Punishment (EN-PU) | Endogenous Gift-Exchange (EN-GE) | |
| Wage | 54 (18) | 50 (17) | 57 (18) |
| Agent’s Effort | 0.43 (0.25) | 0.37 (0.22) | 0.25 (0.23) |
| Principal’s Payoffs | 25 (13) | 24 (16) | 15 (14) |
| Agent’s Payoffs | 49 (15) | 43 (16) | 55 (18) |
| Number of Observations | 200 | 182 | 48 |