{% extends "global/Page.html" %}
{% load otree %}

{% block title %}
    Instructions
{% endblock %}

{% block content %}
    <style>
        img {
            display: block;
            margin-left: auto;
            margin-right: auto;
            }
        div.a {
        text-indent: 50px;
        }
        sub {
        vertical-align: sub;
        font-size: smaller;
        }
        table, th, td {
  border: 1px solid black;
  border-collapse: collapse;
}
th, td {
  text-align: center;
}
    </style>
<h1 style="font-size:150%;">Introduction</h1>
    <p>This is an experiment about coordinated decision-making when decision-makers have limited information about each other's information
        and no way to communicate.
        ..........provides funds for conducting this research. Your earnings will depend in part on your decisions and
        in part on the decisions of the other participants in the experiment. If you follow the instructions and make careful
        decisions you may earn a considerable amount of money.</p>
<h2 style="font-size:150%;">Your Experimental Task</h2>
<p>You have been randomly paired with 1 other participant,
        and you will remain paired with that participant throughout the experiment. You are Player {{ player.id_in_group }}. The other participant
is reading an identical set of instructions except for their player number.</p>
<p>The experiment will consist of 3 stages of 20 rounds each. In each round you will make a single choice to Invest or Not Invest. You will not learn any of the
    other player's choices until the end of the experiment. At that point one round will be selected at random to determine your earnings.
    </p>
<p>The payoffs for each round are described in the table below. Player 1's choices are listed in the first column; Player 2's choices are listed in the first row.
The cells in the bottom right of the table give the payoff for Player 1 and then Player 2 for each possible combination of choices by the two players.
    The payoff to Player 1 from Investing is return on investment x<sub>1</sub>,
    but there is a loss of 1 if Player 2 does Not Invest. Similarly the payoff to Player 2 from Investing is return on investment (or return) x<sub>2</sub>,
    but there is a loss of 1
    if Player 1 does Not Invest. The payoff from Not Investing is 0 for both players.</p>

    <table style="width:50%;margin-left:auto;margin-right:auto">
  <tr>
    <td></td>
    <td>Invest</td>
    <td>Not Invest</td>
  </tr>
  <tr>
    <td>Invest</td>
    <td>x<sub>1</sub>, x<sub>2</sub></td>
    <td>x<sub>1</sub> - 1, 0</td>
  </tr>
    <tr>
    <td>Not Invest</td>
    <td>0, x<sub>2</sub> - 1</td>
    <td>0, 0</td>
  </tr>
</table>

<br>
<p>x<sub>1</sub> and x<sub>2</sub> are determined randomly each round according to a probability distribution over R x R
    (each player's return takes values in the real numbers and returns need not be independent). Each stage corresponds to a different distribution.
    Each round within a stage, a pair of returns is randomly drawn
    according to the distribution for that stage.</p>
<p>Once x<sub>1</sub> and x<sub>2</sub> are drawn you will learn the value of your own return but not that of the other player's. In addition you will have limited
    information about the underlying distribution of returns in any stage.
    You will learn only the probability, conditional on your having drawn
    any particular return, of the other player drawing a lower return. You will then choose whether or not to Invest under those conditions.
    A series of practice questions is designed to help familiarize you with the task.</p>
<p>In order to bound potential earnings you will only choose whether or not
to Invest if your randomly drawn return is between -0.5 and 1.5. For returns above 1.5 it will be assumed that you choose to Invest. For returns below -0.5 it will be assumed that
you choose to Not Invest.</p>

<h3 style="font-size:150%;">Earnings</h3>

<p>At the end of the experiment, one round from one stage will be selected at random, where your return in that round was between -0.5 and 1.5. Based on your choice
and the choice of the other player in that round your payoff will be calculated. The payoff will then be multiplied by $10 and added to the show up fee of $15.
If in the round selected your return was 1.5 and both you and the other player invested, your total earnings would equal $30. If your return were -0.5 and only
you invested your earnings would be $0.</p>

    {% next_button %}
{% endblock %}