Table 2 describes the parameter values and the predicted equilibria in
each of the four settings in our experiment. Panel A shows the conditional
distribution of signals in the high-transparency (r = 0.8) and lowtransparency
(r = 0.4) settings. Panels B and C show the prior state probabilities,
the success payoffs, and the foreclosure payoffs used in the symmetric
priors setting and the optimistic priors setting, respectively.