When making your decision, you will have an option to get a Human advice. This advice, however, costs money. Using the BDM (Becker-DeGroot-Marschak) bidding mechanism explained below, you will be able to evaluate the advice.

How BDM Works

The BDM mechanism is a method for revealing your true valuation of a good (in this case, the advice). Here's how it will work:

  1. You will be asked to specify the maximum amount you are willing to pay for the advice.
  2. This amount should be between 0 and 100 ECU.
  3. After all participants submit their bids, a price will be randomly chosen.
  4. If your bid is equal to or higher than the randomly chosen price, you will receive the advice and pay the price. If your bid is lower, you will not receive the advice and pay nothing.
  5. Your decision should reflect the maximum amount you are willing to pay for the advice - think carefully!