Part 3 consists of a repeated number task and two guessing tasks.
For this task, you will be randomly paired with another participant in this session. The task consists of {{C.NUM_ROUNDS}} rounds and the paired participant remains the same for all rounds. At the start of each round, both you and the paired participant will be asked to choose a number between 0 and 100 in private. In each round, your earnings depend on how close your number is to a target number. The target number is calculated as follows :
$$ target\,number = 0.75 * other \,player\text{'}s \,number + 15 $$The payment is calculated as follows: $$ earnings = 100 - 0.05 * | your\,number - target\,number| $$ The paired participant has similar formulas. Please note that your payment will not become negative. Should your payment according to the above formula become negative, you will receive zero instead.
After each round, you observe the choice of your partner and the amount of points you have earned. During this task you will have access to a standard calculator on screen.
After {{C.PRE_SHOCK_ROUND}} rounds, the formula for the target number will change. You will receive the new formula when the {{C.ROUND_SHOCK}} round starts.
In round 1 and round {{C.ROUND_SHOCK}}, you will be asked to guess the choices that other participants made in the number task in that round. Specifically, you will be asked to indicate the share of participants (in percent) who chose a given number within each of the following twenty intervals:
For this task, you receive 500 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 2. You will have access to the same payoff calculator.
In round 1 and round {{C.ROUND_SHOCK}}, you will be asked to guess the answer to Guess 1 of a randomly chosen participant in this session. Note that this participant is not you or the paired participant from the number task. Specifically, you will be asked to guess this participant’s guess about the share of participants (in percent) who chose a number within each of the following twenty intervals:
For this task, you receive 500 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 2.
Your total earnings in Part 2 are calculated across all rounds as follows: $$ Earnings\, Part 3 = Earnings\, Number\, Task + Earnings\, Guess 1 + Earnings \,Guess 2$$ {{ next_button }}