Regressions adjusting for socio-economic heterogeneity (dependent variable is the amount allocated to the risky option)
| (1) | (2) | (3) | |
|---|---|---|---|
| Treatment (1 = researcher rolls the die) | 5520.5 (5165.5) | 3831.2 (5102.2) | 1653.4 (5752.7) |
| Friday (1 = Friday) | −5956.8 (5165.5) | −6433.2 (5085.3) | −6204.9 (5849.4) |
| Gender (1 = female) | −18845.7 (11,147.2) | −6150.8 (32,506.6) | |
| Age (years) | −170.3 (177.1) | −152.2 (215.4) | |
| Risk attitude (11-point scale following Dohmen et al., 2011) | 2882.4* (1445.9) | 3190.2 (1677.0) | |
| Main income (1 = agriculture main income) | 9158.4 (8292.3) | ||
| Livestock units | −46.62 (80.33) | ||
| Arable land (hectares) | −25.37 (63.54) | ||
| Economics courses (= 1 has training in economics) | 7011.9 (6564.3) | ||
| Constant | 52392.0*** (8566.0) | 48212.0*** (12925.5) | 43811.7** (14732.8) |
| Observations | 88 | 88 | 77 |
| F | 1.236 | 1.855 | 1.187 |
| Adj. R2 | 0.0054 | 0.0469 | 0.0217 |
| (1) | (2) | (3) | |
|---|---|---|---|
| Treatment (1 = researcher rolls the die) | 5520.5 (5165.5) | 3831.2 (5102.2) | 1653.4 (5752.7) |
| Friday (1 = Friday) | −5956.8 (5165.5) | −6433.2 (5085.3) | −6204.9 (5849.4) |
| Gender (1 = female) | −18845.7 (11,147.2) | −6150.8 (32,506.6) | |
| Age (years) | −170.3 (177.1) | −152.2 (215.4) | |
| Risk attitude (11-point scale following | 2882.4* (1445.9) | 3190.2 (1677.0) | |
| Main income (1 = agriculture main income) | 9158.4 (8292.3) | ||
| Livestock units | −46.62 (80.33) | ||
| Arable land (hectares) | −25.37 (63.54) | ||
| Economics courses (= 1 has training in economics) | 7011.9 (6564.3) | ||
| Constant | 52392.0*** (8566.0) | 48212.0*** (12925.5) | 43811.7** (14732.8) |
| Observations | 88 | 88 | 77 |
| 1.236 | 1.855 | 1.187 | |
| Adj. | 0.0054 | 0.0469 | 0.0217 |
Note(s): Standard errors in parentheses
*p < 0.05, **p < 0.01, ***p < 0.001
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