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Introduction
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Hello, Participant! I appreciate your joining this experiment and hope you enjoy the process.
Your actions will contribute to the understanding of people's decisions under risk.
The experiment consists of three parts, 9 rounds each.
Part 1: Make personal choices between two lotteries, each with different possible outcomes and their chances.
Part 2: Make personal choices over the same lotteries, with information on other players' choices available.
Part 3: Make collective choices over the same lotteries, while being randomly grouped with other participants.
In Part 3, simple majority vote determines the collective choice, and the outcome applies to each of the groupmates.
Detailed instructions are given in each corresponding part.
To receive your payment from the experiment, you must have a Paypal account.