You are participating in an experiment on economic decision making. You will receive $7 for completing the experiment. At the end of the experiment, you may also be paid an additional $20 based on your decisions during the experiment. It is important that you understand the instructions well since this can help you make better decisions and hence earn more money.
In this experiment you will complete six tasks. At the end of the experiment, one and only one of these six tasks will be randomly selected and your payment will depend on the responses you provided for that one task.
In each task, you will be confronted with 16 possible options labelled A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, and P. Each option offers you a chance of earning either $20 or $0.
The amount of money you would receive is based on the following procedure that involves drawing a card from a deck of 100 cards. Each card in the deck has a number on it. An option specifies for which cards you would be paid $20 and for which cards you would be paid $0 if this task is selected for payment. This is done visually by a checkmark appearing beside a card number.
In the example to the right, Option B would result in you being paid $20 if a Card 2, Card 4, or Card 5 is drawn and you have indicated you prefer Option B. If a Card 1 or Card 3 is drawn and you have indicated you prefer this option, you would earn $0. The "Odds" tell you the number of cards in the deck (out of 100) that contain a given number. In this example there are 25 Card 2s and thus a 25/100 = 25% chance that a Card 2 will be drawn.
How you indicate which option you prefer differs from task to task and specific instructions for each task will be given to you before that task.
In each task, after you identify your preferred option, you will have to draw one card from the deck of cards. Each task will have a different deck of 100 cards and the "Odds" column will tell you how many cards of each type are in the deck. To the right is a sample deck of 100 cards corresponding to the example decision shown above. Recall there are 20 Card 1's, 25 Card 2's, and so on.
Before selecting a card, you will have to shuffle the cards. By clicking on the 'Shuffle' button, the cards will be turned over and shuffled. If you have not already done so, you should press the 'Shuffle' button now to see how this works.
After shuffling ends, you can click on any one card to select it. Clicking on a card will reveal the card you have drawn. If you have not already done so, you should select a card now by clicking on it. If your preferred option contains the card you selected you will earn $20 for that task. If your preferred option does not contain the card you chose, then you will earn $0 for that task. During the process of shuffling and choosing cards you will be able to see your preferred option below the deck of cards.
Once you choose a card from the shuffled deck, you will have to reveal all cards in the deck by clicking the 'Reveal All Cards' button. If you have not already done so, you may press on the 'Reveal All Cards' button now.
At this point, your results for the task would be displayed. The results panel will tell you: (1) whether your preferred option contains the card you drew, and (2) your earnings for the current task. You will then be able to press a button to proceed to the next task.
Please note that each task is a separate decision-making problem. At no time during this experiment will you be able to return and change your decisions.
To sum up, this experiment consists of 6 tasks. In each task you will be presented with various options, each containing different combinations of cards. The numbers next to the cards denote how many of each card type are in the deck of 100 cards. After you pick an option, the computer shuffles the deck and you pick one card. If your preferred option contains the randomly drawn card, you will earn $20 if that task is randomly selected for payment. Then you move on to the next task.
To move through the experiment, you should use only the buttons provided. Do not use any of your browser's buttons ("Forward," "Back," or "Refresh") as this will void the experiment and the payment you have earned.
When you have read the instructions and are ready to proceed, please hit "proceed" below.