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<p> Welcome to this experiment. Please read these instructions carefully. Do not communicate with any other subject
    during the entire experiment. If you have questions, raise your hand and wait until one of the experimenters comes
    to answer in private.</p>

<p> For participating in this experiment, you will receive a fixed payment of 5 euros. You will get additional payment
    based on your decisions, the decisions of others, and chance. During the experiment, you will obtain points. The
    number of points you get determines your payment. Each point is worth 0.125 euros, so that 8 points are equivalent
    to 1 euro. You will be paid at the end of the session.</p>

<p> The experiment consists of seven stages. At the beginning of each stage, you will receive new instructions. Your
    decisions in one stage will never affect outcomes in another stage, so you can treat each stage as independent. At
    the end of the experiment, one random stage will be selected, and you and all other subjects will be paid according
    to your choices in that stage.</p>


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