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Instructions

Welcome all, you are about to participate in a session on decision-making, and you will be paid for your participation with cash privately at the end of the session. Your earnings depend partly on your decisions, partly on the decisions of others, and partly on chance.

Cellphones are not allowed during the experiment. Please turn off your cell phones now.

The entire session will take place through computer terminals, and all interaction between the participants will take place through the computers. Please do not talk or in any way try to communicate with other participants during the session. We will start with a brief instruction period. During the instruction period you will be given a description of the main features of the session. If you have any questions during this period, raise your hand. Your question will then be answered so everyone can hear.

General Instructions

In this experiment, you will be randomly matched with another student each round of the session. There are a total of 15 rounds. You won’t be matched (we don’t know yet how to program perfect strangers) with a player that you already played.

In each period you will be asked to make a single decision, choosing either hunt a stag or a hare. The choices and the points you may earn in each period are as follows.

Hunter 2
Hunter 1 Stag Rabbit
Stag (90, 90) (45, 80)
Rabbit (80, 45) (85, 85)
The first entry in each cell represents your points, while the second entry represents the points of the person with whom you are matched.

payoff matrix

That is, if: You select Stag and the other selects Stag, you each make 90 points. You select Stag and the other selects Hare, you make 45 points while the other makes 80 points. You select Hare and the other selects Stag, you make 80 points while the other makes 45 points. You select Hare and the other selects Hare, you each make 85 points. The payoff may vary depending on the round.

Payment

1. At the end of the experiment, one period will be randomly selected for payment by drawing a piece of paper at random from an urn containing numbers 1 to 15. Your payment consists of two parts. You will receive a $7 participation fee. On top of this, your earned points will be converted into dollars with the exchange rate of 0.15, that is, 100 points are worth $15.

2. In addition, you will receive a $7 show-up fee.

Before we start, let me remind you that:

- There are 15 rounds in each of which you will be asked to make decisions.

- You will be paired with a different person in every period

- Only one period will be randomly selected for payment. {{ next_button }} {{ endblock }}