### Decision-Making Experiment: Choices between Gambles

```Email address:

Country:
Age: Are you Male or Female?
Female
OR
Male

Education (in years).
If you are a college graduate, put 16.
If you have a Ph.D., put 20.
Education:  Years.

This is a study of decision making.  Please look at the first choice,
No. 1, below.  Notice that there are 20 tickets for A and 20 for B.
Imagine that each dollar amount represents the value of one ticket or
chance to win a prize.  One ticket will be drawn at random, and
you win the prize printed on that ticket.

Would you rather play:
A: fifty-fifty chance of winning either \$100 or \$0 (nothing),
OR
B: fifty-fifty chance to win either \$35 or \$25.
```

Think of probability as the number of tickets in a bag containing 20 tickets, divided by 20. Gamble A has 10 tickets that say \$100 and 10 that say \$0, so the probability to win \$100 is .50 and the probability to get \$0 is .50. If someone reaches in bag A, half the time they might win \$0 and half the time \$100. But in this study, you only get to play a gamble once, so the prize will be either \$0 or \$100. Gamble B's bag has 20 tickets also, but 10 of them say \$25 and 10 of them say \$35. Bag B thus guarantees at least \$25, but the most you can win is \$35. Some will prefer A and others will prefer B. To mark your choice, click the button next to A or B.

21. Have you ever read a scientific paper (i.e., a journal article or book) on the theory of decision making or on the psychology of decision making?
No. Never.
OR
Yes, I have.

22. Please type any comments you have regarding the experiment in the space provided.