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In each question you will you will be asked to choose one of the two options, each of the kind described above. To choose one option please click it. Once you have made your choice, you can click to the next page and move on to the next question. Importantly, in this experiment you will be asked to choose between two options three times in a row. The three questions will be identical, one after the other. That is: you will be asked to choose between two options; you will then proceed to the next sheet, in which you will be asked to choose between the same two options; and then, the same question will appear for the third time.

After you answer three questions for each of the five pairs of lotteries, that is, 15 questions in total, this part of the experiment will end. At that point, we will determine how much you get paid as follows:

Please note: In this experiment, there are no right and wrong answers. We are interested in studying how you make decisions. Are there any questions? If so, please raise your hand and one of the experimenters will come to answer your questions.

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