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Explanation of the experiment
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<div>
    <br>
    <p>
        We will now explain the procedure of the experiment to you.
        Please read the explanations carefully.
        Your decisions within the experiment will significantly influence your payout.
    </p>

    <p>
        <b>Below we will present you 200 lotteries from which you can choose an option.</b>
        At the end of the experiment, you will receive an amount of money based on the payout of your selected lottery.
    </p>

    <p>
        All lotteries are structured according to the same pattern. <b>There are two payout options, each having a certain probability of occurring.</b>
    </p>
        <p>
        <b>Lotteries vary significantly in their risk levels.
        That means, some lotteries include two equal payouts. Other lotteries include one very high and one very low payout.</b>
    </p>
    <br>
<div class="Grey_Background">

    <p>
        <b><u>Example of high-risk lottery:</u></b>
    </p>
    <table class="likert" style="text-align: left">
        <tr>
            <td colspan="2">
                <b> With a probability of 50% you will get 20000 points.</b>
                <br><b>With a probability of 50% you will get 3500 points.</b>
            </td>
        </tr>
    </table>

    <br>
        <p>
        <b><u>Example of low-risk lottery:</u></b>
    </p>
    <table class="likert" style="text-align: left">
        <tr>
            <td colspan="2">
                 <b>With a probability of 50% you will get 10500 points.</b>
                <br><b>With a probability of 50% you will get 9500 points.</b>
            </td>
        </tr>
    </table>
</div>
    <br>
    <p>
        <b>Note that some lotteries (class A) are objectively better than others (class B).</b>
        Among the 200 lotteries, there are two types: 30 superior (Class A) and 170 inferior (Class B) lotteries.
        Class A lotteries offer higher payouts than Class B lotteries for the same payout probabilities.
        Therefore, regardless of your risk tolerance, it never makes sense to choose a Class B lottery.
    </p>

      <br>
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    <p>
        <b><u>Example for Class A-lottery:</u></b>
    </p>
    <table class="likert" style="text-align: left">
        <tr>
            <td colspan="2">
                <b>With a probability of 60% you will get 13075 points.</b>
                <br><b>With a probability of 40% you will get 7500 points.</b>
            </td>
        </tr>
    </table>
    <br>
        <p>
            <b><u>Example for Class B-lottery:</u></b>
    </p>
    <table class="likert" style="text-align: left">
        <tr>
            <td colspan="2">
                 <b>With a probability of 60% you will get 12400 points.</b>
                <br><b>With a probability of 40% you will get 7000 points.</b>
            </td>
        </tr>
    </table>
    <br>
    <i>Note: Class A lottery payouts are higher</i>
</div>
    <br>
<p>
    <b>Whether a lottery is Class A or Class B is not indicated directly, you have to find the superior lotteries yourself.</b>
</p>

<br>
    <p>
        The earned points are converted into real money at the end of the experiment.
        <b>Per 5000 points you will receive 1€.</b>
    </p>
    <p>
        <b>Now please click on "Next" to start the experiment.</b>
    </b>
    </p>

</div>
<br>
<button id="next_button" class="otree-btn-next btn btn-primary"> Next </button>
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