{% extends "global/Base.html" %}
{% load staticfiles otree_tags %}

{% block title %}


    Compensation:
{% endblock %}

{% block content %}

    <STYLE TYPE="text/css">
        <!-- .indented { padding-left: 50pt; padding-right: 50pt; } -->
        <!-- .indented2 { padding-left: 70pt; padding-right: 70pt; } -->
        .tabmarg {margin-left: 80px}
    </STYLE>


    <p>
        Your compensation will be calculated using the following rules (you may refer to these rules during the experiment by
        {% if condition == 1 %} <a href="{% static "project_selection/PSInstructionsRI.pdf" %}" target="_blank">accessing or printing them here</a>
        {% elif condition == 2 %} <a href="{% static "project_selection/PSInstructionsROI.pdf" %}" target="_blank">accessing or printing them here</a>
        {% elif condition == 3 %} <a href="{% static "project_selection/PSInstructionsNI.pdf" %}" target="_blank">accessing or printing them here</a>
        {% endif %}
        - a new window will be launched):
    </p>

    <p>
        As mentioned earlier, you will receive $2.00 for your participation in this experiment, plus additional compensation earned as a
        result of the decisions you make during the experiment. This additional compensation will be in the form of a bonus that will be
        calculated based on the performance of the ten projects you select for implementation in your division
    </p>

    <p>
        The performance of each of the ten projects you select will be determined randomly based on the likelihoods of each project’s possible income (as
        described previously), and the performance of your selected projects will then determine your bonus compensation for the experiment.
    </p>

    {% if condition == 1 %}

    <p>
        Total bonus compensation will range between $0 and $7.40 and will be determined using the <b>residual income</b> of each of the ten projects implemented
        in your division, according to the following:
    </p>

    <p>
        Bonus compensation for a single project = $0.20 for project performance that meets the division’s required return (i.e., Residual income of $0), and an
        additional $0.20 for each additional $70 in Residual income. This can be summarized in the following schedule:
    </p>

    <p class="tabmarg">
       <br><img src="{% static "project_selection/Bonus_RI.jpg" %}"/>
    </p>

    <p>
        Your total bonus compensation will then be the sum of the bonus compensation earned for each of your ten selected projects.
    </p>
    <p>
        For illustrative purposes, consider the following total compensation calculation examples:
    </p>
    <p class="indented">
        1.	One project chosen for implementation from a participant’s set of ten selected projects attains income of $165. Residual income for the project
        is therefore: $165 – (10% &times; $700) = $95. The participant’s total compensation for the experiment is:
    </p>
    <p class="indented">
        <table class="tabmarg" width="50%" border="0">
        <tbody>
            <tr>
                <td>Bonus based on residual income of $95</td>
                <td>= $0.40</td>
            </tr>
            <tr>
                <td>Bonus compensation from nine other projects</td>
                <td>= $X</td>
            </tr>
            <tr>
                <td><span style="text-decoration:underline">Participation fee</span></td>
                <td><span style="text-decoration:underline">= $2.00</span></td>
            </tr>

            <tr valign="top">
                <td valign="top">Total compensation</td>
                <td valign="top">= $2.40 + X</td>
            </tr>
        </tbody>
        </table>
    </p>

    <p class="indented">
        2.	One project chosen for implementation from a participants’ set of ten selected projects attains income of $35. Residual income for the project
        is therefore: $35 – (10% &times; $700) = -$35. The participant’s total compensation for the experiment
    </p>
    <p class="indented">
        <table class="tabmarg" width="50%" border="0">
        <tbody>
            <tr>
                <td>Bonus based on residual income of -$35</td>
                <td>= $0.00</td>
            </tr>
            <tr>
                <td>Bonus compensation from nine other projects</td>
                <td>= $X</td>
            </tr>
            <tr>
                <td><span style="text-decoration:underline">Participation fee</span></td>
                <td><span style="text-decoration:underline">= $2.00</span></td>
            </tr>

            <tr valign="top">
                <td valign="top">Total compensation</td>
                <td valign="top">= $2.00 + X</td>
            </tr>
        </tbody>
        </table>
    </p>

    {% elif condition == 2 %}

    <p>
        Total bonus compensation will range between $0 and $7.40 and will be determined using the <b>return on investment</b> of each of the ten projects implemented
        in your division, according to the following:
    </p>

    <p>
        Bonus compensation for a single project = $0.20 for project performance that meets the division’s required return (i.e., return on investment of 10%), and
        an additional $0.20 for each additional 10% in return on investment. This can be summarized in the following schedule:
    </p>

    <p class="tabmarg">
       <br><img src="{% static "project_selection/Bonus_ROI.jpg" %}"/>
    </p>

    <p>
        Your total bonus compensation will then be the sum of the bonus compensation earned for each of your ten selected projects.
    </p>
    <p>
        For illustrative purposes, consider the following total compensation calculation examples:
    </p>
    <p class="indented">
        1.	One project chosen for implementation from a participant’s set of ten selected projects attains income of $165. Return on investment for the project
        is therefore: ($165 / $700) &times; 100(%) = 24%. The participant’s total compensation for the experiment is:
    </p>
    <p class="indented">
        <table class="tabmarg" width="50%" border="0">
        <tbody>
            <tr>
                <td>Bonus based on return on investment of 24%</td>
                <td>= $0.40</td>
            </tr>
            <tr>
                <td>Bonus compensation from nine other projects</td>
                <td>= $X</td>
            </tr>
            <tr>
                <td><span style="text-decoration:underline">Participation fee</span></td>
                <td><span style="text-decoration:underline">= $2.00</span></td>
            </tr>

            <tr valign="top">
                <td valign="top">Total compensation</td>
                <td valign="top">= $2.40 + X</td>
            </tr>
        </tbody>
        </table>
    </p>

    <p class="indented">
        2.	One project chosen for implementation from a participants’ set of ten selected projects attains income of $35. Return on investment for the project
        is therefore: ($35 / $700) &times; 100(%) = 5%. The participant’s total compensation for the experiment is:
    </p>
    <p class="indented">
        <table class="tabmarg" width="50%" border="0">
        <tbody>
            <tr>
                <td>Bonus based on return on investment of 5%</td>
                <td>= $0.00</td>
            </tr>
            <tr>
                <td>Bonus compensation from nine other projects</td>
                <td>= $X</td>
            </tr>
            <tr>
                <td><span style="text-decoration:underline">Participation fee</span></td>
                <td><span style="text-decoration:underline">= $2.00</span></td>
            </tr>

            <tr valign="top">
                <td valign="top">Total compensation</td>
                <td valign="top">= $2.00 + X</td>
            </tr>
        </tbody>
        </table>
    </p>


    {% elif condition == 3 %}

    <p>
        Total bonus compensation will range between $0 and $7.40 and will be determined using the <b>net income</b> of each of the ten projects implemented
        in your division, according to the following:
    </p>

    <p>
        Bonus compensation for a single project = $0.20 for project performance that meets the division’s required return (i.e., net income of $70), and
        an additional $0.20 for each additional $70 in net income. This can be summarized in the following schedule:
    </p>

    <p class="tabmarg">
       <br><img src="{% static "project_selection/Bonus_NI.jpg" %}"/>
    </p>

    <p>
        Your total bonus compensation will then be the sum of the bonus compensation earned for each of your ten selected projects.
    </p>
    <p>
        For illustrative purposes, consider the following total compensation calculation examples:
    </p>
    <p class="indented">
        1.	One project chosen for implementation from a participant’s set of ten selected projects attains net income of $165. The participant’s total
        compensation for the experiment is:
    </p>
    <p class="indented">
        <table class="tabmarg" width="50%" border="0">
        <tbody>
            <tr>
                <td>Bonus based on net income of $165</td>
                <td>= $0.40</td>
            </tr>
            <tr>
                <td>Bonus compensation from nine other projects</td>
                <td>= $X</td>
            </tr>
            <tr>
                <td><span style="text-decoration:underline">Participation fee</span></td>
                <td><span style="text-decoration:underline">= $2.00</span></td>
            </tr>

            <tr valign="top">
                <td valign="top">Total compensation</td>
                <td valign="top">= $2.40 + X</td>
            </tr>
        </tbody>
        </table>
    </p>

    <p class="indented">
        2.	One project chosen for implementation from a participants’ set of ten selected projects attains net income of $35. The
        participant’s total compensation for the experiment is:
    </p>
    <p class="indented">
        <table class="tabmarg" width="50%" border="0">
        <tbody>
            <tr>
                <td>Bonus based on net income of $35</td>
                <td>= $0.00</td>
            </tr>
            <tr>
                <td>Bonus compensation from nine other projects</td>
                <td>= $X</td>
            </tr>
            <tr>
                <td><span style="text-decoration:underline">Participation fee</span></td>
                <td><span style="text-decoration:underline">= $2.00</span></td>
            </tr>

            <tr valign="top">
                <td valign="top">Total compensation</td>
                <td valign="top">= $2.00 + X</td>
            </tr>
        </tbody>
        </table>
    </p>


    {% endif %}

    <br>
    <p>
        Please click "Next" when ready to proceed to a brief quiz to check your understanding of the instructions you have read.
    </p>


    {% next_button %}

{% endblock %}