Instructions
In this part of the experiment, you will receive 4 signals that give you insight into whether the first suitcase (purple) is more or less expensive than the second (black). After each signal, you will be asked to reassess the probability that the first suitcase (purple) is more expensive.
- Each signal you receive is 70% accurate. This means:
- If the first suitcase (purple) is more expensive, there is a 70% chance you will correctly receive a "first (purple) is more expensive" signal and a 30% chance you will receive an incorrect "first (purple) is less expensive" signal.
- If the second suitcase (black) is more expensive, there is a 70% chance you will correctly receive a "first (purple) is less expensive" signal and a 30% chance you will receive an incorrect "first (purple) is more expensive" signal.
Please note: Details about the prices of the suitcases (which is more expensive) will not be disclosed at any stage of the experiment.