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Introduction
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This is an experiment in decision-making. In addition to a $5 participation fee, you will be paid any additional money you
accumulate during the experiment at the conclusion of today's session.
All payoffs during the experiment are denominated in an artificial currency, experimental currency units (ECU). At the end of the
experiment, ECU will be converted into cash at the rate of $1 per 500 ECU. Upon completion of the experiment, your earnings will be
converted to dollars and you will be paid privately in cash. The exact amount you receive will be determined during the
experiment and will depend on your decisions as well as the decisions of others.
If you have any questions during the experiment, please raise your hand and wait for an experimenter to come to you.
Please do not talk, exclaim, or try to communicate in ways other than instructed with other participants during the experiment. Participants intentionally
violating the rules may be asked to leave the experiment and may not be paid.
Additionally, please put away all electronic devices not provided to you by the experimenter in this session today.
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