Part 2 consists of a number task and two guessing tasks.
Your task is to choose two numbers, A and B, between 0 and 100, extremes included. Your earnings for this task depend on how close A and B are to a target number. The closer they are to the target number, the more you earn. Each number A and B has a specific target:
$$target \,for\, A = 0.75 * B + 15$$ $$target \,for\, B = 0.75 * A + 15$$To calculate your earnings, the computer tosses a fair coin. If the coin lands on heads, then your earnings depend on A. If the coin lands on tails, then your earnings depend on B. Your earnings are calculated as follows:
$$ earnings \,in\, points = 1000 - 0.05 * | A - target \, for \, A|, \quad \text{if heads} $$ $$ earnings \,in\, points = 1000 - 0.05 * | B - target \, for \, B|, \quad \text{if tails} $$Note that if your earnings according to the above formula become zero or negative, you will receive zero points for this task. During this task you will have access to a standard calculator on screen.
You will be asked to guess the choices that other participants made in the number task. Specifically, you will be asked to indicate the share of participants (in percent) who chose a given value of A within each of the following twenty intervals:
For example, if you expect that 70% of the participants chose A between 95 and 100, and 30% of the participants chose A between 90 and 94, then you would assign 70% to the box 95-100 and 30% to the box 90-94. If you do not expect anybody to have chosen A in a particular interval, then you need to leave the box with the corresponding interval empty.
For this task, you receive 1000 points minus an amount that depends on how inaccurate your guess is. The subtracted amount is calculated in the same way as with the guessing tasks in Part 1. For you to understand how your earnings may change based on different participant’s choices and different guesses, you will have access to a payoff calculator (displayed below). This calculator allows you to input a hypothetical distribution of participant’s choices across the twenty intervals in the first line, followed by your guesses in the second line. By clicking Calculate, you can see your estimated earnings for that scenario.
You will be randomly paired with another participant in this session and will be asked to guess this participant’s answer to Guess 1. Specifically, you will be asked to guess this participant’s guess about the share of participants (in percent) who chose a given value of A within each of the following twenty intervals:
For example, if you expect that the randomly paired participant guessed that 25% of the participants chose A between 95 and 100 and that 75% of the participants chose A between 90 and 94, then you would assign 25% to the box 95-100 and 75% to the box 90-94.
For this task, you receive 1000 points minus an amount that depends on how inaccurate your guess is. The subtracted amount is calculated in the same way as with the guessing tasks in Guess 1. You will have access to the same payoff calculator.
Your total earnings in Part 2 are calculated as follows: $$ Earnings\, Part 2 = Earnings\, Number\, Task + Earnings\, Guess 1 + Earnings \,Guess 2$$ {{ next_button }}