Table 1 reports the fits of two-stage versions with and without heterogeneous decision rules (latent classes) and models that allow for conventional representation of continuous covariates (i.e., no splines). Based on standard fit 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 those differences are statistically significant. To safeguard against overfitting, we also evaluate goodness of fit using a holdout sample consisting of 181 men and girls who joined the website after the estimation period. These out of sample estimates reaffirm a model allowing for nonsmooth response and heterogeneity outperforms more conventional specifications. In addition to superior fit, our model captures. Details are in SI Appendix, Section S4.
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