{% extends "global/Page.html" %} {% load staticfiles otree_tags %} {% block title %} Quiz {% endblock %} {% block content %}
Below are a number of questions to check whether you understood the rules of the task.
If you want to read the instructions again before answering the questions, please click the below buttons:
You have been randomly and anonymously paired with two other participants, who are also seated in a cubicle in this lab, and with whom you will perform a three-person task, which is called the puzzle-pieces task. This task will be repeated {{Constants.num_rounds}} times (which we will call {{Constants.num_rounds}} rounds from now on). In all {{Constants.num_rounds}} rounds of the task, the three persons can earn points. These point are worth real money, namely 1 euro per 100 points. The amount of points each person earns in all rounds of the task will be added up, and will be exchanged for real money after the task is finished. So the more points you earn in the puzzle-pieces task, the higher your payoff.
Two of the persons in the puzzle-pieces task will be randomly assigned to the role of Seller (Seller 1 and Seller 2), and one of you will be assigned to the role of Buyer. The three of you will keep the same role in all {{Constants.num_rounds}} rounds. Before the first round starts, you will learn whether you have been assigned to the role of Seller 1 or Seller 2 or whether you are the Buyer. But first we will explain you how the task works.
At the start of each round, the two Sellers each have part of a four-piece puzzle in their possession. Each seller can try to earn points by selling his/her own part of the puzzle to the Buyer. The Buyer can obtain a monetary bonus by buying the whole puzzle from the Sellers. That is, if the Buyer manages to obtain the complete puzzle from the two Sellers, he/she earns a monetary bonus of {{Constants.value_puzzle}}.
In every round, each Seller indicates how many points he/she wants to receive for his/her own part of the puzzle. In other words, each Seller indicates his/her own individual asking price.
The Buyer starts each round with an endowment of {{Constants.buyer_endowment}}. The Buyer can keep these points for him/herself, or he/she can use these point to try to buy the puzzle from the two Sellers. If the Buyer manages to buy the whole puzzle from the Sellers, he/she earns an extra monetary bonus of {{Constants.value_puzzle}}. To try to buy the puzzle, the buyer has to offer one amount to Seller 1 (for Seller 1's part of the puzzle), and one amount to Seller 2 (for Seller 2's part of the puzzle).
By comparing the two offers of the Buyer with the asking prices of the two Sellers, we can determine if the Buyer made a deal with each Seller. That is, if the Buyer offered an amount to Seller 1 that is at least as high as this Seller's asking price, a deal is made between the Buyer and Seller 1. In that case, Seller 1 sells his/her part of the puzzle to the Buyer (for the asking price of Seller 1). The same goes for Seller 2: if the Buyer offered an amount that is at least as high as Seller 2's asking price, a deal is made between the Buyer and Seller 2 (and Seller 2's part of the puzzle is sold for his/her asking price). If the Buyer manages to make a deal with both sellers, the Buyer obtains the whole puzzle, and then receives a monetary bonus of {{Constants.value_puzzle}}.
However, it is important to know that the buyer will only earn a monetary bonus of {{Constants.value_puzzle}} if he/she manages to make a deal with BOTH sellers. In other words, only if the Buyer manages to obtain the WHOLE puzzle, he/she will receive a monetary bonus. If the Buyer only makes a deal with one of the sellers, but not with the other, the Buyer will not receive a monetary bonus of {{Constants.value_puzzle}}.
At the same time, the two Sellers can only earn points if they manage to make a deal with the Buyer. If a Seller does not make a deal with the Buyer (because his/her asking price is higher than the Buyer's offer), this Seller does not sell his/her part of the puzzle, and earns zero points in that round. For the two Sellers it is thus also important to make a deal with the Buyer.
Question 1:
{% formfield player.quiz_1 with label="How many persons are involved in the puzzle-pieces task?" %}
Question 2:
{% formfield player.quiz_2 with label="How many rounds does the puzzle-pieces task consist of?" %}
Question 3:
{% formfield player.quiz_3 with label="How large is the monetary bonus that the Buyer will earn if he/she manages to buy the whole puzzle?" %}
Question 4:
{% formfield player.quiz_4 with label="What happens if the Buyer buys only one part of the puzzle (but does not manage to obtain the whole puzzle)?" %}
Question 5:
{% formfield player.quiz_5 with label="How much does a Seller earn if he/she manages to sell his/her part of the puzzle to the Buyer?" %}
Question 6:{% formfield player.quiz_6 with label="How much does a Seller earn if he/she does NOT manage to sell his/her part of the puzzle to the Buyer?" %}
{% next_button %} {% endblock %}