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

{% block title %}Instructions for Decision Task{% endblock %}

{% block content %}

<p> You are now participating in an economic experiment. If you read the following
    instructions carefully, you can, depending on your decisions and the decisions
    of others, earn a considerable amount of money. It is therefore very important
    that you read these instructions with care. The currency used in this experiment
    is Experimental Currency Units (ECU), where 1 ECU = 0.05 AUD. Should you have any
    questions please ask us. </p>
<br>
<b>Task</b> <br>
<br>
<p> You are part of a group of 4 individuals. In the beginning of this task you and
every other member of your group will be endowed with 8 tokens. You must decide
how to allocate your tokens between a Private Account and a Group Account.
Your allocation decision must be in whole token form, i.e. allocating 2.5 tokens to
the Group Account and 5.5 tokens to the Private Account is not possible. Each
person in the group has a Private Account and is making a similar decision on how
to allocate their tokens. However, there is only one Group Account for the entire
group. Once you have decided how much of your endowment to contribute to the
Group Account you will receive feedback on your computer screen relating to your
contribution as well as the contributions made by the other members of your group
towards the Group Account. You will also receive feedback relating to your payoff
in AUD.</p>
<br>
    <p>After everyone has had a chance to look at the results screen you and the other members of your group will be placed in a private breakout room. While in the breakout room each of you will be required to turn your camera and microphone on to complete the ID check. You will not know who made which contribution. Hence, your
contributions will be unidentifiable. </p>
<br>
<b>Remuneration</b> <br>
<br>
<p>Each token you place in the Private Account generates a payoff to you (and to you
alone), and each token you place in the Group Account generates a payoff to every
member of your group. Your total payoff for this task is the sum of your payoff
from the Private Account and your payoff from the Group Account. Payoffs for the
two accounts are listed in the Payoff Table below.
The payoff of each group member from the Group Account is calculated in the same
way. This means that each group member receives the same payoff from the Group
Account.</p>
<br>
<img src="{% static 'PayoffTable.jpg' %}" width="500px"/>
<br>
<br>
<b>Example</b> <br>
<br>
<p>Suppose you contributed 6 tokens towards the Group Account and the total contribution
made by all group members to the Group Account was 20 tokens. In this case
each member of the group receives a payoff from the Group Account of 100 ECU.
You will also receive a payoff of 50 ECU for the amount of tokens you kept in your
Private Account, i.e. the payoff for keeping 2 tokens in your Private Account is 50
ECU. So your total payoff will be 50 + 100 = 150 ECU. Recall, 1 ECU = 0.05 AUD,
hence, in this example your payoff will be 0.05 × 150 = 7.50 AUD.</p>
<br>
<br>
<b> Quiz question 3 of 4</b>
<br>
<br>
Please answer the following question to check your understanding of the experiment.
<br>
<br>
{% formfields %}

{% next_button %}

{% endblock %}