A Simulated Economy


📋

Overview

Welcome to the main part of the experiment — your earnings here will make up the largest share of your payment.

You will play {{ C.Economy_num_rounds }} rounds. In each round, you will first play the Intelligence Test, then take part in a "Group project".

👥

Your Group

(DEBUG: Treatment: {{Treatment}})

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✖️

Your Multiplier

Your multiplier for this experiment is ×{{ multiplier }}. Each correct answer you give counts as {{ multiplier }} points toward your score. See below how this affects your earnings.

{% endif %}
🌍

Each round has two stages

🔄 {{ C.Economy_num_rounds }} rounds
🧠
Stage I
Competition

  • 3 quiz blocks ({{C.Economy_round_length}} seconds each)
  • {{ pictogram_score_text|safe }}
  • Win a share of the {{ C.Economy_pie }} EC pot
🤝
Stage II
Group project

  • Receive 100 ECs
  • Decide how many of these to invest in the pool
  • Pool grows by 50%, then shared equally among 3
↩  Then the next round begins
🧠

Stage I: Competition

You will perform the full intelligence test — the same three blocks as before (Matrix Reasoning, Analogies, Mathematics), each lasting {{C.Economy_round_length}} seconds.

Your round score is calculated as:
 {{ score_formula_html|safe }}

Your share of the {{ C.Economy_pie }} EC pot is proportional to your score within your Group:
Your ECs = (your score ÷ total group score) × {{ C.Economy_pie }}

Example: if your score is 50 and the others score 100 each, your share is: 50 50 + 100 + 100 × {{ C.Economy_pie }} = 100 ECs

{% if show_multiplier %}

Remember that your score depends on your performance and your multiplier.

{% endif %}
🤝

Stage II: Group project

There are {{ C.PGG_Commons }} ECs in the the group project. Additionally, each member receives {{ C.PGG_investible }} ECs. You choose between investing into the group project or keeping the ECs for yourself.

  • You can either invest (up to {{ C.PGG_investible }} ECs) or take out (up to {{ C.PGG_investible }} ECs) from the common pool.
  • ECs you keep are added directly to your earnings.
  • ECs placed in the group project are multiplied by 1.5 and divided equally among all three members.

Because the pool multiplies contributions by 1.5, the group earns more in total when everyone contributes. However, since the pool is shared equally, each member also benefits from others' contributions regardless of their own contribution.

Example 1: Suppose everyone contributes 100 ECs to the group project. Then, there would be 600 ECs in the pool. Each of you would earn (600 × 1.5) ÷ 3 = 300 ECs from the group project and 0 ECs from keeping.
Example 2: Suppose everyone keeps their 100 ECs for themselves and additionally everyone takes out 100 ECs from the group project. There would be 0 ECs in the pool. Each of you would earn 0 ECs from the group project and 200 ECs from keeping the ECs for yourselves.

🪙

Earnings

At the end of the experiment, all ECs are converted to EUR at the rate exchange rate of {{ C.EC_exchange_rate }} EC = 1 EUR.

For example, if you earn 1500 ECs you will be paid 15 EUR.