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    Willkommen
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<p>Chaudhuri 2010: Please do NOT continue on to the 6th round of this game till asked by the experimenter to do so.

Before we go on to the 6th round and before you receive the message we will ask you to do the following. We will ask you to predict the AVERAGE choice of the people in your group for round 6. When asked to do so please pick a number from the set {1.1, 1.2, 1.3, 1.4, 1.5, 1.6, 1.7} that you think will be the closest to the average choice and enter this number in the first column of Box 1 on the next page. (Please take a look now.) You will be paid for your predictions in the following way. You will earn $1 minus the absolute difference between your predicted average and the actual average.

EXAMPLE: Suppose you predict that in Round 6 the average choice will be 1.6. Suppose the actual average turns out to be 1.4. In this case the absolute difference between your predicted choice and the actual average is 0.2. Your earnings will then be $1.00 - $0.20 = $0.80. On the other hand suppose that you predict that in Round 6 the average choice will be 1.2. The actual average turns out to be 1.5. Then the absolute difference between your predicted choice and the actual choice is 0.3. In this case your earning will be $1.00- $0.30 = $0.70.

You will be asked to make this prediction once before you receive the message (using Box 1) and once after you receive the message (using Box 2). We will tell you the actual round 6 choices at the end of the session. The experimenter will help you to calculate your earnings from the two predictions.

We will proceed with round 6 of the game after this.

We will pay you your earnings from the experiment at the end of the session. You are free to go once you have been paid. Your earnings are private information and we encourage you to keep this information private. If at any point you have any questions or problems, please raise your hand for assistance.
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