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Number of Rounds:

You will repeat the above game for at least 20 separate rounds. Your Type stays the same in all the rounds.

In each round, you play the game described above from scratch. That is, the Points in your private and in the group account do not transfer to the next round.

From round 21 onwards, the computer decides whether the game continues by selecting a number between 1 and 100 with equal probability at the end of each round. If the number selected is less than or equal to 50, then the game continues to the next round. Otherwise, the game ends.

In other words, starting from period 21, the game has always a chance to end. The results screen will inform you whether the game continues or not: you will see the randomly selected number.



Earnings:

Participants of Type A and Type B earn Points from their private and group accounts in each round. At the end of the game, we will randomly select 5 rounds and pay you the sum of Points you earned in these rounds.

Participants of Type A can also earn Points when their thoughts in Stage 2 on the transfer decision of the other participants are correct or close to the truth, i.e, accurate. A participant of Type A earns 3 Points if

At the end of the game, we will randomly select 5 rounds for which we reward accurate thoughts. These rounds are selected independently from the rounds for the transfer decisions.

Thus, your final earnings depend on your type, your performance, and the randomly chosen rounds as follows:

Participants of Type A Participant B
Earnings: The sum of Points earned from private and group accounts in 5 randomly selected rounds.

+

The sum of Points earned for accurate thoughts in 5 randomly selected rounds.
The sum of Points earned from private and group accounts in 5 randomly selected rounds.


The sum of all the Points you earned in the randomly chosen rounds will be converted to dollars according to the following conversion rate:

10 Points are equivalent to £1.00.

After the end of the game, you will be informed about which rounds were randomly selected and about your income in these rounds.
You will see the sum of Points earned from your private and group accounts in each selected round. If you are a participant of Type A, as in the example below, you also receive information on your income from accurate thoughts in the right two columns.



Exclusion from the Experiment:

You must remain active during the game.

You will be informed if you are about to timeout. If you timeout on three consecutive pages, you will be excluded from the game and not receive any earnings.

If you exit the experiment at any point before completion, you will not receive any earnings.

Independent of a participant’s type, the computer will make decisions for each participant who dropped out in the following way: it will transfer the average number of Points to the group account that was transferred per participant in the previous round.

Please click on “Next” to proceed to the quiz.

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