{{ block title }} Part 1 Quiz {{ endblock }} {{ block content }} {{ if player.round_number == 12 }}

12. Suppose a Buyer has a major problem, but he/she purchased a major treatment from Seller 2. How much do Seller 1, Seller 2, and the Buyer earn?

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Your answer is correct.

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The correct answer is True. As mentioned in the instructions: “At the beginning of the experiment, you will be randomly placed into a group of 12 participants, you and 11 others in the lab with you today.”

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The correct answer is True. As mentioned in the instructions: “Your role and the members of your group will remain the same throughout the experiment.”

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The correct answer is False. As mentioned in the instructions: “However, the Buyer does not know whether he/she has a major or minor problem before making any decisions.”

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The correct answer is a. As mentioned in the instructions: “A major treatment can solve either a major or minor problem. A minor treatment can solve only a minor problem.”

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The correct answer is False. The instructions mention: “The seller does not know if he/she is the buyer’s first or second visit (Seller 1 or Seller 2, respectively) and does not know the identity of any buyers.”

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The correct answer is True. As mentioned in the instructions: “However, the report is only correct {{a}} of the time. This means, out of every 100 reports received, on average, there are {{a}} reports that show the buyer’s true problem and {{b}} reports that is incorrect.”

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The correct answer is True. As mentioned in the instructions: “If the report shows that the buyer has a major problem, a major treatment will be offered to the buyer regardless of the seller’s decision.”

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The correct answer is False. As mentioned in the instructions: “Each buyer is randomly paired with a seller in their group without knowing the seller’s identity.”

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The correct answer is c. A buyer rejects a minor treatment which is offered by Seller 1. The instructions mention: “Then he/she decides whether to accept the treatment offered to them by that seller (Seller 1).

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The correct answer is 2.5. The instructions mention: “For each treatment he/she offers,

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The correct answer is -2. The instructions mention: “The buyer may earn the following earnings:

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The correct answer is Seller 1 earns 0. Seller 2 earns 2.5. The buyer earns {{e}}. For the seller, the instructions mention: “For each treatment he/she offers,

Seller 1 did not sell a treatment, so he/she earns 0. Seller sold a major treatment, so he/she earns 2.5. At the same time, the instructions mention: “E3: Buyer rejected Seller 1 and Seller 2 sold a major treatment, the buyer earns {{e}}.”. Thus, the buyer earns {{e}}.

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Please click the button to proceed.

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