{% load otree_tags staticfiles %}

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    </p>
    <i> <strong>Please read these following instructions carefully!!! </strong></i>
    </p>

    <p>
        Thank you for taking part in this experiment.
    </p>

    <p>
        The purpose of this experiment is purely academic and this is to study how people make decisions on average in a given situation.
        You are playing a game for real money that you will take home. Feel free to ask us questions after reading the instructions.
        However, if at any time you find that this is something that you do not wish to participate in for any reason, you are of course free to leave.
    </p>
    <p>
        To ensure anonymity and confidentiality you are assigned a random internal code. You have been paired with another participant, and <strong> you will play with this same participant during the whole experiment.</strong>
        However, you are not be able to talk to each other, neither to know his or her identity and vice-versa.

    </p>

    <p>
        To begin with, you will be randomly assigned by the computer as Employer or as Worker. The role assigned to you will be the same for you over the rounds.
        The experiment consists of 10 rounds and each round consists of 3 stages:
    </p>
    <p><strong>Stage 1: </strong></p>
    <p>
        a)	The employer <i><strong>decides</strong></i> is going to decide who has to set the wage: either him or the worker.</p>
    <p> b)	The employer announces the effort that she wishes to obtain from the Worker. The level of effort required by the employer is not binding for the worker.


    <p><br><strong>Stage 2: </strong></p>

    <p> a) If the employer decides to set the salary of the worker, then the former must choose as wage <strong>an integer number between 0 and 100.</strong></p>
    <p> b) If the employer decides that the worker should set the salary, then the latter must choose as wage <strong>an integer number between 0 and 100.</strong></p>

    <p><br><strong>Stage 3: </strong></p>

    <p> a) Regardless of the scenario, it is mandatory for the worker to choose the effort level, and it must be <strong>an integer between 1 and 10.</strong>
    <p> b) The higher the effort level, the higher the cost of the effort for the worker. The cost related to each effort level is shown in the following table:

    <table class=table>
        <tr>
            <th>Effort Level</th>
            <td>1</td>
            <td>2</td>
            <td>3</td>
            <td>4</td>
            <td>5</td>
            <td>6</td>
            <td>7</td>
            <td>8</td>
            <td>9</td>
            <td>10</td>
        </tr>
        <tr>
            <th>Effort Cost</th>
            <td>0</td>
            <td>1</td>
            <td>2</td>
            <td>4</td>
            <td>6</td>
            <td>8</td>
            <td>10</td>
            <td>12</td>
            <td>15</td>
            <td>18</td>
        </tr>
    </table>
    </p>

    <p>
        The payoffs will be computed as follows in each round (depending on the role):</p>
    <strong><p>The employer’s payoffs = (240–Wage)*(Effort level/10);</p>
        <p>The worker’s payoffs = Wage – Cost of effort.</p></strong>
        <p>Thus, <i>the higher the effort level and the lower the wage, the higher the employer’s payoffs</i>.
        And <i>the lower the cost of the effort level and the higher the wage, the higher the worker’s payoffs</i>.</p>

    <p><strong>Example:</strong>
    If the salary is 40 and the effort level is 6, then the payoffs in this specific round would be: Employer’s payoffs = (240-40)*(6/10) = 120 points, and Worker’s payoffs = 40 – 8 = 32 points</p>

    <p>At <strong> the end of each round</strong>, each member of your pair will be informed about the agreed wage, effort level and the payoffs of everyone.</p>
    <p>And at<strong> the end of the experiment</strong>, your earnings will be the <strong>payoff earned in one randomly chosen round </strong> among the 10 rounds. The random round  will be chosen by a 10-sided die rolled by one of the participants of your pair.
        The points will be exchanged as follows: <strong>10 points = 1 pound.</strong> In addition to these earnings, you will receive £2 as a show-up fee. You will be paid individually and privately.</p>

    <p>Before starting the experiment, you will play 2 trial rounds to make sure you understand the instructions and the rules of the game. After the experiment, you will have to anonymously fill in a short questionnaire.
    </p>
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