{{ block title }}Introduction{{ endblock }}
{{ block content }}

<div id="header-logo">
    <span><img src="https://www.smu.edu.sg/sites/all/themes/smubase_nw2_rev/svg/logo-d-smu.svg" alt="smu-logo" width="200" height="auto"></span>
    <span><p style="margin-top:10px; font-size:11px;"><i>Created by the Centre for Teaching Excellence.</i></p></span>
    <hr>
</div>

<h3 id="title">Introduction</h3>

<p>
You are going to bid for an item whose value to you is a random number from {{Constants.min_allowable_bid}} to {{Constants.max_allowable_bid}}. </p>

<p>There are {{player.number_of_opponents}} other students in this class who are bidding in the same auction.</p>

<ul>
<li>The object's value for other players can be anything from {{Constants.min_allowable_bid}} to {{Constants.max_allowable_bid}} inclusive. </li>
<li>The item is allocated to the highest bidder who must pay the <b>second highest</b> bid.</li>
<li>The other bidders pay nothing and earn nothing.</li>
<li> Your earnings are your value minus the second highest bid if you win and zero otherwise.</li>
<li> In case of a winning tie, your earnings are (your value - the second highest bid) divided by the number of winners.</li>
<li> If all players place the same bid, that value becomes the winning bid, and each player's earnings are (your value - the second highest bid) divided by the number of players.</li>
</ul>

{{next_button }}

<style>
    .otree-body {
        background-color: {{ Constants.style_background_color }};
        color: {{ Constants.style_text_color }};
    }
    
    .otree-title {
    visibility: hidden;
    height: 0;
    }
</style>

{{ endblock }}