{{ block title }} Task 1 - Belief Question {{ endblock }} {{ block content }}

In addition to the steps described before, after observing some of the Firm’s plates, you will also be asked to answer the following question in each round of Task 1:

  1. How likely (that is, with what probability) do you believe that the Firm’s type is A? Your answer to this question will be referred to as p and must be a number between 0 and 100. Choosing a value of p means that you believe there is a p% probability that the Firm's type is A; and a (100-p)% probability that it is instead type B.

Your answer to this question will determine an additional number of tokens that you may earn in the round, based on the following steps. First, a whole number, which we call r, will be randomly selected between 0 and 99, with each value in that range equally likely. Then:

For example, imagine that in a given round, you indicate that you believe the Firm is Type A with a probability p = 70%. Then, a number r is randomly selected between 0 and 99. If r < 70, then you would earn additional {{ C.RIGHT_BELIEF }} in this round ONLY IF the Firm’s type were Type A. Otherwise, if r ≥ 70, then you would earn additional {{ C.RIGHT_BELIEF }} in this round with probability r%.

IMPORTANT: The strategy that maximizes your expected earnings from this question is for you to select the value of p that you truly believe is the probability that the Firm’s type is A.

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