Instructions for Decision Making


In this study, each gamble is an urn containing either two or three tickets. Each ticket is identical, except that they have different prize values printed on them. One ticket will be drawn blindly and randomly from your chosen gamble to determine your prize. Assume that each ticket is equally likely to be drawn. For example, in Choice W1 below, the first gamble has two tickets that win $15 or $20 and the second gamble has two tickets as well, which might win either $5 or $95. Which gamble would you rather play? Click the button to indicate your choice.

Warmup Trials Decision Making


W1.
First Gamble: ($15, $20)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


W2.
First Gamble: ($50, $55, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


W3.
First Gamble: ($15, $20, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


W4.
First Gamble: ($50, $55)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble



1.
First Gamble: ($30, $35)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


2.
First Gamble: ($2, $40, $45)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


3.
First Gamble: ($30, $35, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


4.
First Gamble: ($45, $50)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


5.
First Gamble: ($15, $20, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


6.
First Gamble: ($2, $45, $50)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


7.
First Gamble: ($40, $45)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


8.
First Gamble: ($2, $25, $30)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


9.
First Gamble: ($50, $55, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


10.
First Gamble: ($20, $25, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


11.
First Gamble: ($40, $45, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


12.
First Gamble: ($2, $20, $25)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


13.
First Gamble: ($35, $40, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


14.
First Gamble: ($50, $55)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


15.
First Gamble: ($2, $35, $40)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


16.
First Gamble: ($2, $15, $20)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


17.
First Gamble: ($2, $50, $55)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


18.
First Gamble: ($35, $40)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


19.
First Gamble: ($25, $30)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


20.
First Gamble: ($25, $30, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


21.
First Gamble: ($2, $30, $35)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


22.
First Gamble: ($15, $20)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


23.
First Gamble: ($45, $50, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


24.
First Gamble: ($20, $25)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble



25. Please enter the last four digits of your student number:

Please check your answers. When you are done, push the button below.

Thank You!