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The experiment has two parts: Owners will complete the first part of the experiment and Buyers will complete the second part of the experiment. The first part of the experiment involves several rounds with the same procedures in each round.

Each Owner starts each round with 100 points and owns one asset.

At the start of the round, Owners will not know the value of their assets. The value of each asset will be either 50 points or 150 points and this value will be revealed at the end of the round.

At the start of each round, each Owner will perform two tasks related to their asset:
(1) Make a choice that influences the likelihood as to whether the asset’s value will be either 50 points or 150 points, and
(2) Make a prediction about whether the asset’s value will be either 50 points or 150 points.