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Incorrect. If you bid $200 on the chair and the computer chooses $200, you win the auction, paying $200 and getting the red chair. This means the money remaining in the joint account is $1,000 - $200 = $800. At the end of the study, whatever is left in the joint account is split equally between you and your partner. So, you will get the red chair, receive $400, and your partner will receive $400.
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