Part II Instructions
You have completed Part I.
Your task in Part II
You will see the same tasks again.
Whereas in Part I you guessed the performance of past study participants,
in Part II, we ask you to
guess the guesses of other participants in Part I of this study.
Once this study is concluded, we will compare your Part II guesses with the Part I guesses of all other participants.
Your payment
Payment rules are the same as before. Remember that the more precise your answer, the higher your bonus payment.
Your payment consists of a
completion payment and a
bonus payment.
Conditional on successfully completing the study, you will receive a completion payment of 3.75$.
In addition, you can earn a bonus payment between 0$ and 1.40$. Your
bonus depends on the accuracy of your guesses.
One of the 14 tasks from either Part I or Part II will be chosen randomly to determine your bonus payment.
In this randomly chosen task, the closer your guess to the correct answer, the higher your bonus payment will be;
for each percentage point that your guess is off, your bonus payment will decrease by 0.10$.
If, for instance, your answer is exactly correct, you will earn the maximum bonus of 1.40$.
If, however, your answer is 5% above or below the true value, you will earn a bonus of 0.90$ (=1.40-5*0.10).
If, instead, your answer is 10% off the true value, you will earn a bonus of 0.40$ (=1.40-10*0.10).
Therefore, in order to maximize your bonus, try to be as accurate as possible in your guesses.
Your payment will be made within a week of completing the study.
These instructions will always be available to you at the bottom of the screen by clicking on the "Instructions" button.
In each part, your bonus payment equals 2$ minus the absolute difference between your answer and the true value scaled by 0.04. The bonus payment cannot be negative.
Bonus=max[2$ - abs("your answer" - "true value") x 0.04$, 0$]