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

{% block title %}
   Part2
{% endblock %}

{% block content %}
<p>
    <strong>
        Instructions:
    </strong>
</p>
<p>
    The second part of the experiment consists of only <strong>1</strong> decision-making round.
</p>
<p>
    In this part, you will be randomly and anonymously re-placed into a group of 6 participants. It’s highly possible that you have the <strong>different</strong> group members.
</p>
<p>
    In this part, you will compete as <strong>individuals.</strong> You will be given an initial endowment
    of <strong>1000 points.</strong> You will use this endowment to bid in order to be a winner.
    For each point you bid you will receive <strong>one</strong> token.
    At the end of the round the computer draws randomly one token among all the tokens purchased
    by 6 participants in the group, including you. The owner of the drawn token becomes a winner.
</p>

<p>
    Thus, your chance of becoming a winner is given by the number of tokens you bid divided
    by the total number of tokens all 6 participants in your group bid. If nobody purchases any
    tokens, no bid takes place and no one becomes the winner.
</p>

<p>
    One difference is that in part 2 the winner <strong>does not receive the reward</strong>.
    Therefore, the reward is worth <strong>0 points</strong> to you and the
    other five participants in your group.
    After all participants have made their decisions, your earnings are calculated:
</p>
<p>
    Earnings = Endowment − Your Bid = 1000−Your Bid
</p>
<p>
    After all participants have made their decisions, the competition results and
    your earnings will be displayed on the outcome screen.
</p>
<p>
Your earnings will be converted to cash, using the same exchange rate (1500 points = 1 US dollar)
    in part 1, and paid at the end of the experiment.
</p>

<p>

        Please make the following decisions.
</p>

    {% formfields %}


    {% next_button %}

{% endblock %}