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Who is conducting the study?

The principal investigator is En Hua Hu from the Department of Economics at the University of Toronto.

Who is funding this study?

This study is funded by a grant from the Department of Economics at the University of Toronto.

Why are we doing this study?

Making choices under uncertainty when information about the consequences of one’s choices is available plays a central role in economic models. The purpose of this study is to observe how decisions are being made when given different information.

How is the study done?

In this study you will be asked to make many choices between pairs of bets. We expect the experiment to take up to 10 minutes to complete, but you can take as much time as you want to finish it. Please note that as in all experiments in Economics, there is no deception in the study: we are not trying to trick you, and all payments are real.

What will we do with the study results?

We expect that the results of the study will be published in academic journals.

Could participating in the study be bad for you?

We do not think there is anything in this study that could harm you or be bad for you.

What are the benefits of participating?

You will be paid for your participation in the study (see below). In addition, the problems and decisions you will be asked to make could be very interesting.

How will your privacy be maintained?

Your performance and decisions will be kept strictly confidential. You will never be identified by name or any other identifying feature with relation to this study. All electronic data from this experiment will be analyzed anonymously and will be kept on a password protected secure server.

Will you be paid for taking part in the study?

You will be paid an hourly fee as specified on Prolific, but there is also a bonus payment which is determined as follows.

You will face a series of tasks. One of them determines your payment. The task that matters for payment has already been randomly chosen, but will only be revealed to you at the end of the experiment. You may earn up to $10 from this task.

Consent: Information / feedback

Taking part in this study is entirely up to you. You have the right to refuse to participate in this study. If you decide to take part, you may choose to pull out of the study at any time without giving a reason and without any negative impact.

By pressing the next button, you consent to the above and can begin the study.

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