{% load otree %}

Both Owners and Buyers will complete a practice round so both roles are comfortable with their tasks.

However, we will record the accuracy of each Owner’s prediction in the practice round so that the accuracy information about Owners’ prior predictions can be provided to Owners and Buyers in the first round of the actual experiment.

After the practice round, Owners and Buyers will participate in several rounds. You will always remain in the same role, i.e., either an Owner or a Buyer.

After each round, the screen will recap the winning bid for, and final value of, each asset. The screen will also summarize how many points you earned in that round. Regardless of whether you gain or lose points, recall that Buyers can always bid up to 150 points on each available asset, even if his/her current points total is less than 150 points.

At the end of the experiment, all Owners and Buyers will be ranked based on their total number of points. The higher your ranking, the higher your payment will be.

Finally, because each market involves six participants, you might experience some delays during the experiment while other Owners and Buyers are completing their tasks. For example, Buyers will be waiting while Owners make their choices and predictions. Owners will be waiting while Buyers enter their bids. During these delays, please be patient. Also, to help prevent long delays, please keep an eye on your screen and be prepared to keep the experiment moving along when the computer prompts you to do something.