Variable

Column 1

Column 2

Column 3

Column 4

Offer model

(OLS regression)

Offer-acceptance model I

(probit regression)

Offer-acceptance model II

(probit regression)

Offer-acceptance model III

(probit regression)

Offer index

14.784

(4.468)

[0.001]

Fairness index (difference)

0.029

(0.007)

[0.000]

Fairness index (ratio)

7.561

(2.300)

[0.001]

Pro social

(=1, =0 otherwise)

43.416

(13.942)

[0.003]

0.647

(0.757)

[0.393]

1.542

(0.871)

[0.077]

1.418

(0.747)

[0.058]

Risk averse

(=1, =0 otherwise)

30.556

(14.460)

[0.040]

0.930

(0.876)

[0.288]

1.739

(1.019)

[0.088]

1.723

(0.996)

[0.084]

Risk seeking

(=1, =0 otherwise)

−14.482

(16.617)

[0.388]

1.350

(0.734)

[0.066]

1.285

(0.970)

[0.185]

0.632

(0.726)

[0.384]

Constant

(pro self, risk neutral,

fixed partners)

171.913

(14.409)

[0.000]

−4.771

(1.669)

[0.004]

−6.198

(2.154)

[0.004]

1.297

(0.545)

[0.017]

R-squared and

p-value for F-test on model significance

0.269

0.001

Pseudo R-squared and

p-value for χ²-test on model significance

0.468

0.006

0.601

0.011

0.568

0.001