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Decision 1 involves different payoff tables than Stage 1 for both the Advisors and Investors.

In Decision 1, the Advisor will receive 60 for each Investor who chooses to invest. This is shown in the payoff table below. The Advisor’s payoffs does not depend on the quality of the investment.

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Total Investors
Quality 0 1 2 3 4 5
Low{{ p }}
High{{ p }}

As an Advisor, you will receive a signal telling you the quality of the investment. Remember, in Stage 2 that signal will always be correct. As before, you will select what advice to send the Investors for each possible signal (Low or High).

Please click "Continue"

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