{% extends "global/Page.html" %} {% load otree static %} {% block styles %} {% endblock %} {% block title %} Part 1 - Instructions {% endblock %} {% block content %}
Time: {{ time }} seconds.
In this part, you will indicate the maximum amount that you would pay for a lottery ticket.
The ticket rewards you with $2.00 with a 40% chance, and nothing ($0.00) with a 60% chance.
At the end of the study, it will be determined whether your ticket wins.
You will pay and receive the ticket if the randomly determined price of the ticket is
less than or equal to your indicated amount.
Your best interest is served by simply reporting the maximum amount
that you would pay for the lottery ticket.
You will indicate the maximum amount you are willing to pay
for the lottery ticket (between 0 and 100 cents).
Then, a random number between 0 and 100 will be drawn. This random number is the price that has
to be paid to get the lottery ticket.
If the amount of money you are willing to pay is the same or higher than this random price,
you will pay the randomly determined price and get the lottery ticket. The money you pay will
be deducted from your completion payment.
If the amount of money you are willing to pay is below the random price, you will not pay
anything, but you will not get the lottery ticket.
Please click "Next" to start with the task.