{{ block title }}
{{ endblock }}
{{ block content }}
<!–– Header ––>
<h2>Value Early Warning System</h2>
<br>
<!–– Main Body ––>
<p>How much <strong> compensation </strong> do you require for deciding without the help of an early warning system rather than with a warning system?</p>
<p>Below, you can enter the minimum compensation that you require. Values between 0 and 100 tokens (the maximum theoretical payout in one round) are permitted. </p>
<p>A computer will then draw a random number between 0 and 100. </p>
<ul>
    <li><p>	If <strong>the random number is lower than the minimum compensation</strong> you requested, you will not receive any compensation. You will keep the warning system for the decision task in part 3.
        </p></li>
    <li><p>	If <strong>the random number is equal to or higher than the minimum compensation</strong> you requested, you will receive that randomly drawn number of tokens as <u>compensation</u>. You do not keep the warning system for the decision task in part 3.</p></li>
    <li><p>In short, your best strategy is to enter truthfully <strong>how much the early warning system is worth to you.</strong></p></li>
</ul>
<table border="0" width="100%">
    <tr><td style="background-color:lightblue"><details><summary>More information (click to expand): </summary>
<br>
<p>The value you enter should reflect your true minimum compensation that you are willing to accept for playing without a warning system rather than with an early warning system. </p>
<ul><li><p>If you enter a number that is too high, there is a high probability that the random computer number will be lower than the number you entered. You will keep the warning system and receive no compensation, although you would have accepted a lower compensation to play without the warning system.</p></li>
    <li><p>If you enter a number that is too low, there is a high probability that the random computer number will be higher than the number you entered. You will not keep the warning system and receive a compensation, although you would have wanted a higher compensation to play without the warning system.</p></li>
</ul>
        <p>For more information on the Becker-de Groot-Marschak-mechanism see <a href="https://onlinelibrary.wiley.com/doi/10.1002/bs.3830090304" target="_blank">Becker, G. M., DeGroot, M. H., & Marschak, J. (1964). Measuring utility by a single‐response sequential method. <i>Behavioral science, 9</i>(3), 226-232. (opens an external link in a new tab)</a> </p>
                    </details></td></tr>
</table>
<br>
{{formfield 'WTA'}}
{{ next_button }}
{{ endblock }}