1. Logit VS Probit Pseudo R 2 LogitProbit Gain.1226.1220 Loss.1681.1676 Consistent.1979.1962 Prospect.1500.1453

2. Multicollinearity Variable | VIF 1/VIF -------------+---------------------- cgpa | 3.51 0.284876 exec | 2.22 0.449574 coe | 2.17 0.459895 cla | 2.11 0.474160 usg | 1.87 0.533809 fail | 1.85 0.539904 cob | 1.81 0.552524 cso | 1.75 0.570504 spo | 1.70 0.587795 ccs | 1.63 0.615103 sociocivic | 1.51 0.661154 artist | 1.43 0.697746 do | 1.43 0.697836 ced | 1.40 0.715838 single | 1.33 0.752037 male | 1.31 0.764595 athlete | 1.28 0.780571 cos | 1.23 0.814467 year | 1.21 0.826796 -------------+---------------------- Mean VIF | 1.72

3. Heteroscedasticity Breusch-Pagan / Cook-Weisberg test for heteroskedasticity Ho: Constant variance Variables: fitted values of gain chi2(1) = 0.27 Prob > chi2 = 0.6032

4. Marginal effects after logit y = Pr(gain) (predict) =.58551842 ------------------------------------------------------------------------------ variable | dy/dx Std. Err. z P>|z| [ 95% C.I. ] X ---------+-------------------------------------------------------------------- exec | -.0654206.06939 -0.94 0.346 -.20143.070588.663043 fail | -.0125505.02833 -0.44 0.658 -.068074.042973 1.6087 athlete*| -.0111731.38205 -0.03 0.977 -.759977.737631.032609 artist*|.1061354.16788 0.63 0.527 -.222898.435168.152174 usg*|.1607951.1645 0.98 0.328 -.161619.48321.271739 cso*|.2084456.14428 1.44 0.149 -.074336.491227.25 spo*|.3129035.20194 1.55 0.121 -.082896.708703.021739 socioc~c*|.1205887.33378 0.36 0.718 -.533604.774781.032609 ccs*|.2582453.17009 1.52 0.129 -.075117.591608.097826 ced*|.369431.11821 3.13 0.002.137751.601111.065217 cla*| -.0753862.2571 -0.29 0.769 -.579289.428517.097826 cob*|.1196579.15158 0.79 0.430 -.177435.416751.315217 coe*| -.3140313.19924 -1.58 0.115 -.70454.076477.184783 cgpa | -.5219233.25709 -2.03 0.042 -1.02582 -.018028 2.72109 male*|.0685172.1258 0.54 0.586 -.178045.31508.532609 single*|.3996482.13683 2.92 0.003.131471.667826.782609 year |.0354592.08156 0.43 0.664 -.124393.195312 2.83696 ------------------------------------------------------------------------------ (*) dy/dx is for discrete change of dummy variable from 0 to 1

5. Interpretation(Gain) The probability that Y=1 is 59% – People are generally risk averse Students who hold executive positions are more likely to be risk seeking Students who join extracurricular activities are more likely to be risk averse, except for athletes As students fail more, they tend to be more risk seeking Those with high CGPA are more likely to be risk seeking Male are more likely to be risk averse Those who are single are more likely to be risk averse As years goes by, students tend to be more risk averse.

6. Marginal effects after logit y = Pr(loss) (predict) =.40368042 ------------------------------------------------------------------------------ variable | dy/dx Std. Err. z P>|z| [ 95% C.I. ] X ---------+-------------------------------------------------------------------- exec |.0721286.07194 1.00 0.316 -.068869.213126.588889 fail |.0446001.03126 1.43 0.154 -.016662.105862 1.56667 athlete*|.0675779.41021 0.16 0.869 -.736417.871573.033333 artist*| -.0293145.19107 -0.15 0.878 -.40381.345181.144444 usg*| -.261394.15213 -1.72 0.086 -.559567.036779.266667 cso*|.169309.17225 0.98 0.326 -.1683.506918.255556 socioc~c*|.1046709.46328 0.23 0.821 -.803333 1.01267.033333 ccs*|.2786843.2468 1.13 0.259 -.205038.762406.088889 ced*| -.2613246.17545 -1.49 0.136 -.605196.082546.066667 cla*| -.2950811.18929 -1.56 0.119 -.666088.075926.088889 cob*| -.0499317.15545 -0.32 0.748 -.354611.254747.322222 coe*| -.0171185.21815 -0.08 0.937 -.444676.410439.188889 cgpa |.2807113.25879 1.08 0.278 -.226512.787934 2.71217 male*| -.1737314.12486 -1.39 0.164 -.418451.070988.544444 single*| -.1791192.15745 -1.14 0.255 -.487717.129479.788889 year |.0295779.08082 0.37 0.714 -.128832.187988 2.83333 ------------------------------------------------------------------------------ (*) dy/dx is for discrete change of dummy variable from 0 to 1

7. Interpretation(Loss) The probability that Y=1 is 40% – People are generally risk seeking Students who hold executive positions are more likely to be risk averse Students who join extracurricular activities are more likely to be risk averse, except for artist and USG As students fail more, they tend to be more risk averse Those with high CGPA are more likely to be risk averse Male are more likely to be risk seeking Those who are single are more likely to be risk seeking As years goes by, students tend to be more risk averse.

8. Marginal effects after logit y = Pr(consistent) (predict) =.52562264 ------------------------------------------------------------------------------ variable | dy/dx Std. Err. z P>|z| [ 95% C.I. ] X ---------+-------------------------------------------------------------------- exec |.3730161.12941 2.88 0.004.119371.626661.663043 fail |.0358207.03302 1.08 0.278 -.028895.100536 1.6087 athlete*|.0280015.36085 0.08 0.938 -.679243.735246.032609 artist*| -.2250507.18023 -1.25 0.212 -.578298.128196.152174 usg*|.044608.17934 0.25 0.804 -.306896.396112.271739 cso*| -.2324146.17627 -1.32 0.187 -.57789.113061.25 spo*| -.5361031.08375 -6.40 0.000 -.700252 -.371954.021739 socioc~c*|.0739209.37881 0.20 0.845 -.668541.816383.032609 ccs*| -.499848.14871 -3.36 0.001 -.791314 -.208382.097826 ced*| -.1732109.30073 -0.58 0.565 -.762635.416213.065217 cla*|.2093161.22181 0.94 0.345 -.225427.644059.097826 cob*|.1850299.15765 1.17 0.241 -.123952.494012.315217 coe*| -.1390136.22829 -0.61 0.543 -.58645.308423.184783 cgpa | -.0423288.26124 -0.16 0.871 -.554357.469699 2.72109 male*| -.049474.13446 -0.37 0.713 -.313013.214065.532609 single*|.1908496.15783 1.21 0.227 -.118498.500197.782609 year |.0867046.08319 1.04 0.297 -.076344.249754 2.83696 ------------------------------------------------------------------------------ (*) dy/dx is for discrete change of dummy variable from 0 to 1

9. Interpretation The probability that Y=1 is 53% – People are generally consistent with their choice Students who hold executive positions are more likely to be consistent Students who join extracurricular activities are more susceptible to framing except for athletes, USG and Sociocivic As students fail more, they tend to be more consistent with their choices Those with high CGPA are more susceptible to framing effects Male are more susceptible to framing effects Those who are single are more consistent As years goes by, students tend to be more consistent

10. Marginal effects after logit y = Pr(prospect) (predict) =.26369969 ------------------------------------------------------------------------------ variable | dy/dx Std. Err. z P>|z| [ 95% C.I. ] X ---------+-------------------------------------------------------------------- exec | -.2359319.09243 -2.55 0.011 -.417097 -.054767.663043 fail | -.0488731.03214 -1.52 0.128 -.111874.014128 1.6087 athlete*| -.0563669.25374 -0.22 0.824 -.553689.440956.032609 artist*|.2021112.18948 1.07 0.286 -.16927.573492.152174 usg*|.1966301.1708 1.15 0.250 -.138132.531392.271739 cso*|.1227877.17273 0.71 0.477 -.215751.461326.25 spo*|.7531349.06625 11.37 0.000.623284.882986.021739 socioc~c*| -.0049045.31065 -0.02 0.987 -.613759.60395.032609 ccs*|.2651556.2909 0.91 0.362 -.304995.835306.097826 ced*|.4887275.2608 1.87 0.061 -.022428.999883.065217 cla*| -.0028899.20605 -0.01 0.989 -.406749.400969.097826 cob*| -.0473009.13834 -0.34 0.732 -.318437.223835.315217 coe*|.0093687.1866 0.05 0.960 -.356364.375101.184783 cgpa | -.2644698.21933 -1.21 0.228 -.694354.165414 2.72109 male*|.1048044.11102 0.94 0.345 -.112782.322391.532609 single*|.147567.10751 1.37 0.170 -.063146.35828.782609 year | -.0389002.06514 -0.60 0.550 -.166576.088776 2.83696 ------------------------------------------------------------------------------ (*) dy/dx is for discrete change of dummy variable from 0 to 1

11. Interpretation The prospect theory generally doesn’t hold true Students who hold executive positions are more inclined to follow the theory Students who join extracurricular activities are more inclined to follow the theory except for athletes and Sociocivic As students fail more, they tend to disagree with the prospect theory Those with high CGPA tend to disagree with the prospect theory Male are more inclined to follow the theory Those who are single are more inclined to follow the theory As years goes by, students tend to disagree with the prospect theory