{% extends "global/Page.html" %}
{% load otree static %}

{% block title %}
    Summary of Instructions
{% endblock %}

{% block content %}

<p>You are representing a bank, and choosing how to allocate assets.</p>
<ul>
    <li>
        Period 1: <br>You receive 100 units of deposits and decide on the amount to invest in assets
        with a return of 2 if held until period 3. Whatever you choose not to allocate to assets goes to
        cash on hand earning no return.
    </li>
    <li>
        Period 2:
        <ol>
            <li>
                You learn the number of impatient customers for your Region and bank.
            </li>
            <li>
                 <p>
                     Then, once you know how many impatient customers you have, but
                     without knowing what the price of assets will be, you must decide whether to buy or
                    sell assets in the asset market and enter a prediction for the market price.
                 </p>
                <p>Your payoff for predictions is equal to: </p>
                <p>
                    Payoff = {{ forecast_prize }}/(1 + [prediction error])
                </p>
                    Thus, you can earn up to {{ forecast_prize }} points for a correct price prediction.
            </li>
            <li>
                <p>
                    When you and the other {{ number_other}} bankers have confirmed their buying and selling choices in the
                    asset market, the market price P for the round is determined as follows.
                </p>
                <p>
                    P = [Sum of all cash bid]/[Sum of all assets offered]
                </p>
            </li>
            <li>
                If no assets were offered for sale, or no cash was bid to purchase assets, then no trade will occur and
                the asset will have no price. If this happens, then your payoff for prediction that round is zero.
            </li>
            <li>
                You and the other {{ number_other }} bankers are informed of the market price, P<br>
            </li>
            {% if has_accountant %}
            <li>
                Considering the number of impatient customers and your initial allocation (but <em>not</em>
                what occurs in the asset market), the participant assigned to be an accountant for your bank
                will conduct an  accounting review to determine whether or not your bank is both Liquid and Solvent.
                The outcome for you is determined based on <em>what the accountant declares</em>, which may or may
                not correspond to the actual condition of your bank.
            </li>
            {% else %}
            <li>
                Considering the number of impatient customers, the market price, and your own
                bank’s cash and asset positions following trades in the asset market, the computerized
                accounting review determines whether or not your bank is both Liquid and Solvent.
            </li>
            {% endif %}
            <li>
                <p>
                    If you are both Liquid and Solvent, your payoff is:
                </p>
                <p>
                    Payoff = {{ allocation_prize }} * ([Cash] + {{ multiplier }} * [Assets] - w)/(100-w)
                </p>
                <p>
                    Thus, your maximum payoff for asset allocation is {{ max_payoff }}.
                </p>
                <p>
                    If you are either Not Liquid or Not Solvent, then your payoff for asset allocation for that round is zero.
                </p>
            </li>
        </ol>
    </li>
</ul>

{% next_button %}

{% endblock %}