This is a study of how people choose between gambles.
There is an urn containing exactly 99 marbles, 33 of which are Red, 33 are White, and 33 are Blue. Each gamble differs in what it will pay if a marble drawn blindly and randomly from the urn is Red, White or Blue. Because the marbles are otherwise identical, each color is considered equally likely to be drawn.
Each table shows the prizes for each gamble that you would receive if you chose that gamble and the marble drawn is Red, White, or Blue.
For example, look at the first trial below. In this case, the first gamble pays $200 if you were to draw a Red marble, $300 if you drew White, and $500 if you drew Blue. The second gamble pays $600 if the marble is Red, $700 if it is white, and $600 if it is Blue. If you choose the First Gamble and you drew a Red marble, you would certainly regret having chosen the First Gamble because you could have received a prize of $600 if you had chosen the Second Gamble, but you get only $200 because you chose the First gamble. The first choice (No. 1 below) is easy, but others are more difficult and in most cases, it is a matter of opinion which gamble is better. Imagine that when this study is over, you will play one of your chosen gambles for real money. Choose wisely and you will not regret your decisions.
In each case, choose the gamble that you would prefer to play.