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.
Both players first submit one number to the mechanism.
After the final recommendation, both players decide simultaneously whether to accept or reject it. Each submission stage lasts 60 seconds, and the accept/reject stage lasts 30 seconds.
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.