{% extends "global/Page.html" %} {% load otree static %} {% block styles %} {% endblock %} {% block title %} Instructions Part 2 {% endblock %} {% block content %}
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Overview

Part 2 consists of 40 periods. In every period, you will be presented with a situation in which you will make two decisions, named the CHOICE and the ESTIMATE.

In every decision, you can earn points. At the end of the experiment, the computer will randomly select one of the 40 periods. Additionally, the computer will randomly select either the CHOICE or the ESTIMATE. Your earnings in Part 2 will be determined by the number of points you earned in the selected decision of the selected period. The number of points you earned in this decision will be converted to Pounds using the following exchange rate:

1 Point = 1 Pound

We will now explain the situations with which you will be presented and the decisions you will make in more detail.


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Situations

In every situation, you will interact with two randomly selected other participants from this experiment, one in the CHOICE and one in the ESTIMATE. We will refer to the participant with whom you will interact in the CHOICE as CHOICE-other and to the participant with whom you will interact in the ESTIMATE as ESTIMATE-other.

Important: CHOICE-other and ESTIMATE-other are different participants.

Figure 1 depicts an example situation. At the top of this example situation, you can see the text "Different Label". In other situations, you may see the text "Same Label". Below the text "Different Label", you can see two boxes that contain labels. In the example situation, these labels are faces. In other situations, you may see other labels.

Different Label

Figure 1: Example Situation

Important: CHOICE-other and ESTIMATE-other will see the exact same labels as you. However, the positions of the labels (left, right) on their computer screen may be different from the positions of the labels on your computer screen.


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The CHOICE

Recall that in the CHOICE, you will interact with one randomly selected other participant from this experiment, to whom we refer as CHOICE-other. In the CHOICE, both you and CHOICE-other choose one of the labels, without knowing each other's choice.

In the CHOICE, both you and CHOICE-other earn either 0 points or 7.5 points. If the text "Same Label" is shown at the top of the situation, both you and CHOICE-other earn 7.5 points if you choose the same label and 0 points if you choose different labels. If the text "Different Label" is shown at the top of the situation, both you and CHOICE-other earn 7.5 points if you choose different labels and 0 points if you choose the same label.

Figure 2 depicts the CHOICE. Select "Left Label" to choose the label that is shown on the left box and select "Right Label" to choose the label that is shown on the right box. You will learn which label was chosen by CHOICE-other only at the end of the experiment.

Figure 2: The CHOICE


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The ESTIMATE

Recall that in the ESTIMATE, you will interact with a different randomly selected other participant from this experiment, to whom we refer as ESTIMATE-other. In the ESTIMATE, you report your best estimate of the probabilities with which ESTIMATE-other chooses each of the two labels in his or her own CHOICE.

For example, you may believe that it is very likely that ESTIMATE-other chooses the label that is shown on the left box. In that case, you could, for example, report a probability of 88% that ESTIMATE-other chooses the label that is shown on the left box.

In the ESTIMATE, you earn either 0 points or 7.5 points. Your chance of earning 7.5 points depends on the accuracy of your estimate. The accuracy of your estimate will be determined by a procedure that has the following two properties:

Figure 3 depicts the ESTIMATE. You can report your estimate by clicking on a slider that ranges from "Left Label" to "Right Label". Every time you click on the slider, two numbers will appear. The number below "Left Label" refers to the probability with which you believe ESTIMATE-other chooses the label that is shown on the left box, and the number below "Right Label" refers to the probability with which you believe ESTIMATE-other chooses the label that is shown on the right box. You will learn which label was chosen by ESTIMATE-other only at the end of the experiment.

Figure 3: The ESTIMATE


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Additional Instructions
{% if player.order == 1 %}

In every period, you have to choose which decision, the CHOICE or the ESTIMATE, you complete first. After you have completed the first decision, you will automatically continue to the second decision.

{% endif %} {% if player.order == 2 %}

In every period, you have to complete the CHOICE first. After you have completed the CHOICE, you will automatically continue to the ESTIMATE.

{% endif %} {% if player.time_pressure == 1 %}

In every period, the total amount of time you are allowed to spend on the CHOICE and the ESTIMATE is at most 15 seconds. For this reason, a timer counting upwards from 00:00 will be displayed at the top of the computer screen during Part 2. If you complete one or both decisions after the timer has reached 00:15, your earnings in both decisions will automatically be equal to 0 points. To help you, the button at the bottom of the computer screen is colored either blue or red. If the button is colored blue at the moment of pressing it, you have respected the time constraint, whereas if the button is colored red at the moment of pressing it, you have violated the time constraint.

{% endif %} {% if player.time_pressure == 2 %}

In every period, the total amount of time you need to spend on the CHOICE and the ESTIMATE is at least 15 seconds. For this reason, a timer counting upwards from 00:00 will be displayed at the top of the computer screen during Part 2. If you complete both decisions before the timer has reached 00:15, your earnings in both decisions will automatically be equal to 0 points. To help you, the button at the bottom of the computer screen is colored either blue or red. If the button is colored blue at the moment of pressing it, you have respected the time constraint, whereas if the button is colored red at the moment of pressing it, you have violated the time constraint.

{% endif %}

Important: When you make your decisions, you do not know which period and which decision will be randomly selected to determine your earnings in Part 2. As every decision in every period is equally likely to be relevant for your earnings, you should consider every decision in every period to be equally important and make your decisions accordingly!

Press "Next" to continue to the comprehension questions. You have three attempts to answer these comprehension questions correctly. If you fail all attempts, you are not allowed to complete the remainder of the experiment. In that case, you will receive a fixed payment of £1.25 for the completion of Part 1.


Comprehension Questions

{% formfield player.q1 label="1. How many periods from Part 2 will be randomly selected for payment?" %}

{% if player.q1_error == False %}

You answered Comprehension Question 1 correctly.

{% endif %} {% if player.q1_error %}

You did not answer Comprehension Question 1 correctly.
Hint: Please read "Overview" again and correct your answer.

{% endif %}

Consider the following statement:

"Either the CHOICE or the ESTIMATE will be randomly selected for payment."

{% formfield player.q2 label="2. Is this statement true or false?" %}

{% if player.q2_error == False %}

You answered Comprehension Question 2 correctly.

{% endif %} {% if player.q2_error %}

You did not answer Comprehension Question 2 correctly.
Hint: Please read "Overview" again and correct your answer.

{% endif %}

Consider the following statement:

"CHOICE-other and ESTIMATE-other may be the same participant."

{% formfield player.q3 label="3. Is this statement true or false?" %}

{% if player.q3_error == False %}

You answered Comprehension Question 3 correctly.

{% endif %} {% if player.q3_error %}

You did not answer Comprehension Question 3 correctly.
Hint: Please read "Situations" again and correct your answer.

{% endif %}

Consider the following situation:

Different Label


Suppose you choose the label that is shown on the left box and CHOICE-other chooses the label that is shown on the right box.

{% formfield player.q4 label="4. How many points do you earn in this decision?
Recall that you earn either 0 points or 7.5 points." %}

{% if player.q4_error == False %}

You answered Comprehension Question 4 correctly.

{% endif %} {% if player.q4_error %}

You did not answer Comprehension Question 4 correctly.
Hint: Please read "The CHOICE" again and correct your answer.

{% endif %}

{% formfield player.q5 label="5. How many points does CHOICE-other earn in this decision?
Recall that CHOICE-other earns either 0 points or 7.5 points." %}

{% if player.q5_error == False %}

You answered Comprehension Question 5 correctly.

{% endif %} {% if player.q5_error %}

You did not answer Comprehension Question 5 correctly.
Hint: Please read "The CHOICE" again and correct your answer.

{% endif %}

Suppose you believe that ESTIMATE-other chooses the label that is shown on the left box with a probability of 13%.

{% formfield player.q6 label="6. Which of the following estimates maximizes your expected earnings?
Recall that you always maximize your expected earnings by reporting your estimate truthfully." %}

{% if player.q6_error == False %}

You answered Comprehension Question 6 correctly.

{% endif %} {% if player.q6_error %}

You did not answer Comprehension Question 6 correctly.
Hint: Please read "The ESTIMATE" again and correct your answer.

{% endif %}

Consider the following statement:

"If I complete __________ decisions __________ the timer has reached 00:15, my earnings in both decisions will automatically be equal to 0 points.

{% formfield player.q7 label="7. Which words can be used to fill in the blanks?" %}

{% if player.q7_error == False %}

You answered Comprehension Question 7 correctly.

{% endif %} {% if player.q7_error %}

You did not answer Comprehension Question 7 correctly.
Hint: Please read "Additional Instructions" again and correct your answer.

{% endif %}
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