{% extends "global/Page.html" %}
{% load otree static %}

{% block title %}
    Summary of Instructions
{% endblock %}



{% block app_styles %}
<style type="text/css">
.slidecontainer {
  width: 100%;
}

.slider {
  -webkit-appearance: none;
  width: 100%;
  height: 15px;
  border-radius: 5px;
  background: #d3d3d3;
  outline: none;
  opacity: 0.7;
  -webkit-transition: .2s;
  transition: opacity .2s;
}

.slider:hover {
  opacity: 1;
}

.slider::-webkit-slider-thumb {
  -webkit-appearance: none;
  appearance: none;
  width: 25px;
  height: 25px;
  border-radius: 50%;
  background: #4CAF50;
  cursor: pointer;
}

.slider::-moz-range-thumb {
  width: 25px;
  height: 25px;
  border-radius: 50%;
  background: #4CAF50;
  cursor: pointer;
}

.slidecontainer2 {
  width: 100%;
}

.slider2 {
  -webkit-appearance: none;
  width: 100%;
  height: 15px;
  border-radius: 5px;
  background: #d3d3d3;
  outline: none;
  opacity: 0.7;
  -webkit-transition: .2s;
  transition: opacity .2s;
}

.slider2:hover {
  opacity: 1;
}

.slider2::-webkit-slider-thumb {
  -webkit-appearance: none;
  appearance: none;
  width: 25px;
  height: 25px;
  border-radius: 50%;
  background: #4CAF50;
  cursor: pointer;
}

.slider2::-moz-range-thumb {
  width: 25px;
  height: 25px;
  border-radius: 50%;
  background: #4CAF50;
  cursor: pointer;
}

.center {
border: 5px solid #FFFF00;
text-align: center;
}

.display {
    border: 10px solid red;
}

.important {
        font-size: 14pt;
        font-weight: bold;
    }

th {
    border: 1px solid black;
    font-size: 16pt;
    width: 650px;
    text-align: right;
    font-weight:normal;
    }

td {
    font-size: 14pt;
    border: 1px solid black;
    text-align: center;
    }

table {
    table-layout: fixed;
    width: 800px;
    }

.history td {
    font-size: 16pt;
    }

.history th {
    font-size: 12pt;
    width: 100px;
    text-align: center;
    }

</style>
{% endblock %}

{% block content %}

<p><span class="important"> You are representing a bank</span>, and choosing how to allocate deposits.
    {% if number_other == 1 %}
    There is {{ number_other }} other participant in your group who also represents a bank.
    {% else %}
    There are {{ number_other }} other participants in your group who also represent banks.
    {% endif %}
</p>
    {% if has_accountant %}
    Each round  each participant who represents a bank is randomly paired with another participant who is assigned to be an accountant.
    {% endif %}
<p></p>
<span class="important"> In the 1st period: </span> <br>
<ul>
    <li> You receive {{deposit}} units of deposits and decide on the amount to invest in assets
        with a return of 100% if held until period 3.
    </li><p></p>
    <li>
        Whatever you choose not to allocate to assets goes to
        cash on hand earning no return.
    </li>
</ul>
    <span class="important"> In the 2nd period: </span> <br>
        <ul>
            <li>
                You learn the number of impatient customers (<em>w</em>) for your Region and bank.
            </li>
            <li>
                <p></p>
                     Once you know how many impatient customers you have, but
                     without knowing what the price of assets will be, you must decide whether to buy or
                    sell assets in the asset market and enter a prediction for the market price.
            </li>
                <p><p>
                Your <b> payoff for predictions </b> is equal to:
                <br>

                    &nbsp; &nbsp;   &nbsp; &nbsp;  &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  &nbsp; &nbsp; &nbsp; &nbsp; <b style="color:green">Payoff = {{ forecast_prize }}/(1 + [prediction error]) </b>
<br><br>
             Thus, you can earn up to {{ forecast_prize }}  for a correct price prediction.
            <p> </p>

            <li>

                    After you and the other {{ number_other }} participants (representing different banks)
                    confirm their asset buying and selling choices, the market price P for the round is determined as follows:
                <br><br>

                  &nbsp; &nbsp;   &nbsp; &nbsp;  &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  &nbsp; &nbsp; &nbsp; &nbsp; P = [Sum of all cash bid]/[Sum of all assets offered]

            </li>
<br>
                If no assets were offered for sale, or no cash was bid to purchase assets, no trade will occur and there won't be a market price.
{#<p></p>
            <li>
                You and the other {{ number_other }} bankers are informed of the market price, P<br>
            </li> #}
            {% if has_accountant %}
            <p></p>
            <li>
                Considering the number of impatient customers, your initial allocation, and the market price of the asset
                (but <em>not</em> the details of your own trading), the participant assigned to be an accountant for your bank
                will conduct an  accounting review to determine whether your bank is liquid and/or solvent.
            </li>
            <p></p>

            <li> The outcome for you is determined based on what the computerized accounting review determines regarding your liquidity and
                <em>what the accountant declares</em> regarding solvency, which may or may
                not correspond to the actual condition of your bank.
            </li>
            {% else %}
            <p></p>
            <li>
                Considering the number of impatient customers, the market price, and your own
                bank’s position following trades in the asset market, the computerized
                accounting review determines whether your bank is liquid and/or solvent.
            </li>
            {% endif %}
            <li>
                <p></p>
                {% if has_accountant %}
                   <b> If you are Liquid and your accountant determines you are Solvent, your payoff is</b>:
                {% else %}
                <b> If you are both Liquid and Solvent, your payoff is </b>:
                {% endif %}
                <br>


   &nbsp; &nbsp;   &nbsp; &nbsp;  &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  &nbsp; &nbsp; &nbsp; &nbsp;<b style="color:green"> Payoff = {{ allocation_prize }} * (([Cash] - [Bid] + {{ multiplier }} * ([Assets]+[Bid]/P) - w)/(100-w)-1)</b>
                if you are a buyer of assets
               <p>  </p>
                <p>
                    </p>
                <p>
                    &nbsp; &nbsp;   &nbsp; &nbsp;  &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  &nbsp; &nbsp; &nbsp; &nbsp; <b style="color:green"> Payoff = {{ allocation_prize }} * (([Cash] + {{ multiplier }} * ([Assets]-[Offer])+P*[Offer] - w)/(100-w)-1) </b>
                    if you are a seller of assets
                </p>
                <P>
                                        &nbsp; &nbsp;   &nbsp; &nbsp;  &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  &nbsp; &nbsp; &nbsp; &nbsp; <b style="color:green"> Payoff = {{ allocation_prize }} * (([Cash] + {{ multiplier }} * ([Assets] - w)/(100-w)-1) </b>
                    if no trade takes place

                </P>


                <p>
                  Thus, your maximum payoff for asset allocation depends on both your decisions and the resulting market price, if any.

            </p>
                <p>
            {% if has_accountant %}
             <li>   If you are either <b> Not Liquid or your accountant declares you Not Solvent, your payoff is zero </b> for asset allocation for that round.
            {% else %}
                 <li>   If you are either <b> Not Liquid or Not Solvent, your payoff is zero </b> for asset allocation for that round.
            {% endif %}
            </li>
            </p>

        </ul>



{% next_button %}

{% endblock %}