You now have the possibility that an algorithm estimates the GDP per capita for you.
The algorithm has exactly the same information available as you do. 67% of the algorithm's estimates are within 5 points of the actual GDP per capita. If you delegate the estimation to the algorithm, the algorithm estimates the GDP per capita for you. Thus, the algorithm's estimate is your final estimate, and you cannot change it afterwards.
The use of the algorithmic support is not free of charge. On the next pages, you will be asked to indicate whether you want to delegate the estimation to the algorithm and how much you are willing to pay (between {{ player.wtpzero }} and {{ player.wtpmaxcu }}) in case you want to use it. The price you actually pay for the algorithm's support is determined randomly. The algorithm's quality does not depend on the price. The exact mechanism is explained below.
The delegation of the estimation to the algorithm costs a randomly determined price (between {{ player.wtpzero }} and {{ player.wtpmaxcu }}), which is not known beforehand.
If your willingness to pay for the delegation is higher than the randomly selected price, you pay the randomly selected price and the algorithm estimates the GDP per capita for you. This price will be subtracted from the profit you make with this estimation. If your willingness to pay for the delegation is lower than the randomly selected price, you pay nothing and cannot delegate the estimation. In this case, you have to estimate the GDP per capita yourself.
The probability that you can actually delegate the estimation to the algorithm increases with the amount you are willing to pay. You maximise your profits by truthfully indicating your willingness to pay for the delegation.
Example:
Suppose your willingness to pay to delegate the estimation to the algorithm is {{ player.examplewtp }}. In this case, it is optimal for you to enter {{ player.examplewtp }} as the maximum value that you are willing to pay. If the randomly chosen price is {{ player.examplepricelow }}, then you only pay {{ player.examplepricelow }} and the algorithm estimates the GDP per capita for you. If the randomly chosen price is {{ player.examplepricehigh }}, you pay nothing and cannot delegate the estimation.
On the next pages you will be asked 4 comprehension questions. After correctly answering the comprehension questions, you can decide whether you would like the algorithm to estimate the GDP per capita for you.