Simultaneous

Sequential

Model 1

Model 2

Model 3

Model 4

Uncertainty

−3.979^***

(1.47)

−3.654^**

(1.46)

−6.004^***

(1.57)

−5.850^***

(1.61)

Value

0.671^***

(0.01)

0.670^***

(0.01)

0.659^***

(0.01)

0.652^***

(0.02)

success_t−1

−0.364

(0.50)

−0.183

(0.52)

−0.178

(0.79)

0.053

(0.83)

Period

−0.220^***

(0.04)

−0.213^***

(0.04)

−0.002

(0.05)

−0.016

(0.05)

2nd contributor

0.348

(0.87)

0.433

(0.92)

3rd contributor

−8.426^***

(0.90)

−8.211^***

(0.94)

uncertainty × 2nd contributor

−0.991

(1.25)

−1.063

(1.32)

uncertainty × 3rd contributor

7.365^***

(1.27)

7.444^***

(1.35)

Female

2.013

(1.59)

−0.904

(1.59)

Risk-neutral

−0.015

(1.75)

−0.665

(1.48)

Risk-seeking

−0.074

(2.01)

−1.071

(1.75)

SVO

4.666^**

(1.94)

4.333^***

(1.58)

Constant

5.353^***

(1.20)

3.038^*

(1.84)

2.004

(1.48)

2.347

(2.14)

# of observation

1824

1710

1824

1672

# of left-censored observation

171

158

305

279

# of right-censored observation

9

8

7

7