If you click the middle of the scale, that means you don't care if you play the gamble or not.
Each gamble consists of a container that holds exactly 100 tickets that are identical, except they have different prize values printed on them. To play a gamble, one of the tickets will be drawn blindly and at random, and you would receive the prize printed on that ticket. Each ticket is equally likely.
The best gamble is a sure thing to WIN $100 and the worst gamble is a sure thing to LOSE $100. After this study is over, two trials below will be selected. You get to play the gamble to which you gave the higher rating. So you should give higher ratings to gambles that you would like to play.
Please look at the trials below before you begin. Then judge how good or bad each gamble is on the rating scale.
The first gamble below has 30 tickets to lose $100 and 70 tickets to lose $100. That makes 100 tickets to LOSE $100. In other words, you are sure to lose $100. You should rate this lowest on the scale.
The second gamble below has 100 tickets to win $100; in other words, you win $100 for sure. This is the most you can win, so you should rate this highest on the scale.
The third gamble, W3, has 30 tickets to LOSE $100 and 70 tickets to WIN $100. If a ticket
were drawn from this container, 30% of the time, you would LOSE $100 and 70% of the time
you would WIN $100. But you only get to play a gamble once, so your prize would either
be a LOSS of $100 or a GAIN of $100. How attractive is this gamble? Compared to
LOSING $100 for sure or WINNING $100 for sure, would you like to play this gamble?