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Explanation of the experiment
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    <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>We will present you 200 lotteries from which you can choose one option.</b>
        Based on the outcome of the selected lottery, you will receive a payout at the end.
    </p>

    <p>
        All lotteries are structured according to the same pattern. There are two payout options, each having a certain probability of occurring.
    </p>
        <p>
        <b>Lotteries vary strongly in their risk levels.</b>
        That means, some lotteries include two equal payouts. Other lotteries include one very high and one very low payout.
            <b>Depending on your personal preference, a different option might be your personal best choice.</b>
    </p>

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    <p>
        <b><u>Example of high-risk lottery:</u></b>
    </p>
    <table style="text-align: left">
        <tr>
            <td colspan="2">
                <b> With a probability of 50% you will get 2000 points.</b>
                <br><b>With a probability of 50% you will get 350 points.</b>
            </td>
        </tr>
    </table>

    <br>
        <p>
        <b><u>Example of low-risk lottery:</u></b>
    </p>
    <table style="text-align: left">
        <tr>
            <td colspan="2">
                 <b>With a probability of 50% you will get 1050 points.</b>
                <br><b>With a probability of 50% you will get 950 points.</b>
            </td>
        </tr>
    </table>
</div>
    <br>
    <hr>

    <p>
        <br>
        <b>Some lotteries (class A) are - independent of your personal risk preferences - objectively better than others (class B).</b>
        <br>Among the 200 lotteries, there are two types:
        <ul>
            <li>30 superior (Class A) lotteries</li>
            <li>170 inferior (Class B) lotteries</li>
        </ul>
        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>
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    <p>
        <b><u>Example for Class A-lottery (superior):</u></b>
    </p>
    <table style="text-align: left">
        <tr>
            <td colspan="2">
                <b>With a probability of 60% you will get 1307,5 points.</b>
                <br><b>With a probability of 40% you will get 750 points.</b>
            </td>
        </tr>
    </table>
    <br>
        <p>
            <b><u>Example for Class B-lottery (inferior):</u></b>
    </p>
    <table style="text-align: left">
        <tr>
            <td colspan="2">
                 <b>With a probability of 60% you will get 1240 points.</b>
                <br><b>With a probability of 40% you will get 700 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. Per 500 points you will receive 1 Dollar.<br>
        <b>Depending on your decisions, your bonus payout can vary between 0.5 Dollars and 5 Dollars.</b>
    </p>


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