As a seller, I am expected to adhere to the following:
I will act in good faith and adhere to ethical conduct.
I will act responsibly with fairness, honesty, and integrity.
I will act ethically in the handling of actual or apparent conflicts of interest.
You are endowed with L${{endowment}} to use completely or partially to invest in increasing your probability of winning the contest.
You can make a prediction about the average investment other participants will do, which will help inform your decision.
Enter your prediction for the other participants' average investment: L$
L${{slider_max|to0}}
L${{slider_min|to0}}
How much would you like to invest, to increase your probability of winning: L$
L${{slider_max|to0}}
L${{slider_min|to0}}
REMEMBER:
If you turn out to be the winner, you'll keep your endowment minus your investment
and receive the value of the prize, L${{V}}.
If you are NOT the winner, you'll just keep your endowment minus your investment.
Based on your prediction and investment, your probability of wining is %, so your possible outcomes are:
With a %, you are the winner amd thus your payoff is L$
+
L$
= L$
With a %, you are NOT the winner amd thus your payoff is L$
+
L$
=L$
Thus, your expected payoff is L$
Note: If you do not make a choice, your investment and prediction will default to zero.
Note: Your winning probability is calculated assuming each of the other participants invest the predicted average.
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