{{ block title }} Instructions for Player2 {{ endblock }} {{ block content }}
Player2's task in each round is to guess the choice made by Player1.
Your choices, and your earnings, are not directly related to the price chosen by Player0, but only to the choice made by Player1. However, keep in mind that Player1’s choices are directly related to it. Therefore, please make sure you understood the game played by Player0.
At the end of each round you will get to see the Average market price, but you will never see any guess made by Player1.
Payment: in each round you can either win a bonus of 7.00 €, or nothing. At the end of the experiment the computer will randomly select only one round of the game to determine your final earnings. If you won the bonus in that round, your total earnings will be 10.00 €, otherwise you will be paid only the participation fee of 3.00 €.
As Player2, at each round, you are asked to pick a number between 1 and 30, that represents your expectation about the guess made by Player1. The computer transforms your choice into a decimal number. Say for instance you choose a value of 1, the computer turns it into 1/30 = 0.03. Then the computer takes the choice made by Player1 (the one that you are trying to guess), and does the same. Say for instance that the realized choice made by Player1 is 5, then it is transformed into 5/30 = 0.17. Your choice determines your penalty index on the task according to the following formula:
The closer your guess is to the actual choice of Player1 is, the lower your penalty index will be. The lower your penalty index, the higher the probability that you win the bonus of 7.00 €.
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