You'll be in groups of 4 and play 4 rounds. In each round, you are randomly matched with another participant and bargain over how to split 100 points. At the start of each round, the computer randomly assigns you an outside option between 0 and 100.
You'll make offers. An offer shows how many points you offer to the opponent. Opponent’s offer shows how many points are offered to you.
You can accept or reject active offers. If accepted, the points are distributed.
Bargaining ends when an offer is accepted, time runs out, or one of the players decides to end it.
Earnings are calculated based on the number of points you agree on.
If agreement is reached: Earnings = number of points you receive in the agreement.
If no agreement is reached: Earnings = your outside option.
One round will be randomly selected for payment at the end. Each ECU earned equals 0.03 pounds.