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Table 1 reports the matches of two-stage versions with and without heterogeneous decision rules (latent classes) as well as models that allow for conventional representation of continuous covariates (i.e., no splines). According to standard fit Backpage Escort Lisson Settlement metrics, the proposed model with five latent classes for both men and women fits the data better than all nested models (e.g., homogeneous and linear utility) and nonnested ones with polynomial representation of continuous covariates, and these differences are statistically significant. We evaluate goodness of Using Backpage For Escorts fit using a sample consisting of girls who joined the website immediately after the estimation period and 181 men to safeguard against overfitting. These out of sample quotes reaffirm that a model allowing for nonsmooth reply and heterogeneity outperforms other specifications. Besides superior fit, our model captures features of decision procedures that are distorted by traditional approaches. Additional details are in SI Appendix, Section S4.
