When making your decision, you will have an option to get {{ custom_text }}. This advice, however, costs money. Using the Becker-DeGroot-Marschak (BDM) bidding mechanism explained below, you will be able to evaluate the advice.

How BDM Works

The BDM mechanism is a method for revealing your true valuation of a good (the advice in this case). Here is how it will be used for this experiment:

• You will be asked to specify the maximum amount you are willing to pay for the advice.
• This amount should be between 0 and 100 ECUs.
• After all participants submit their bids, a number between 0 and 100 will be randomly drawn.
• The price for the advice will be determined by this randomly selected number.
• If your bid is equal to or higher than the randomly chosen price, you will receive the advice and pay the price.
• If your bid is lower, you will not receive the advice and pay nothing.