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End of the Experiment
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Payoff Procedure
This experiment consisted of three parts. For your bonus pay, one of these parts gets randomly selected.
Please see below for a description of the procedure that is used to calculate your payoff in each case.
Choosing between a lottery and a safe option
In this part, you were presented with a table of choices, where each choice was a gamble and a safe option.
To calculate your payoff, one row from this table is randomly selected. If you chose a lottery in that row, the outcome of the lottery is drawn, and this is your bonus.
If you chose the safe option in that row, the safe option is your bonus payoff.
Choosing from lists of lotteries - round 1-20
In this part, you were asked to make choices from lists of lotteries, in rounds 1-10 the lotteries were selected and ordered by algorithm 1,
in rounds 11-20 the lotteries where selected and ordered by algorithm 2.
To calculate your payoff, one round is randomly selected. The outcome of the lottery is drawn and added to your payoff.
Choosing between algorithms and choosing from lists of lotteries - round 21-30
In this part, you were given the opportunity to change the probability with which either algorithm 1 or algorithm 2 would
create the lists of lotteries for the rounds 21-30.
To calculate your payoff, on round is randomly selected. The outcome of the lottery is drawn and added to your payoff.
In addition, you receive the endowment that you did not spend on changing the probability of the lottery.
Your Payoff
{{ if chosen_section == 1}}
The payoff relevant part is part 1.
{{ message }}
{{ endif }}
{{ if chosen_section == 2 }}
The payoff relevant part is part 2.
The randomly selected round is round number {{ selected_round }}. You chose the lottery {{ selected_lottery }} in this round.
The outcome of the lottery was drawn to be {{ outcome }}.
Your bonus payoff from the experiment is therefore {{ payoff }}.
{{ endif }}
{{ if chosen_section == 3 }}
The payoff relevant part is part 3.
In the algorithm choice task, you elected to pay {{ algo_wtp }} to influence the probability which algorithm gets used in the following rounds.
From the choice rounds 21-30, the randomly selected round is {{ selected_round }}.
You chose the lottery {{ selected_lottery }} in this round.
The outcome of the lottery was drawn to be {{ outcome }}.
Your bonus payoff from the experiment is therefore {{ payoff }}.
{{ endif }}