### Instructions for Choices between Mixed Gambles

This is a study of decision making. In this study you are asked to compare gambles that may WIN, LOSE, or break even. Imagine that you are presented with these choices, and you must choose which one you would rather play in each choice. In some cases you will not want to play either gamble, and you must choose the lesser of two unfavorable gambles. You should choose the one you would rather play in each case. You will not actually win or lose in this study, but please try to imagine that you really face these choices and click the button beside the gamble in each pair that you would rather play if you are forced to make a choice.

Each gamble can be thought of as a container with exactly 100 tickets. The tickets are otherwise identical, except for amounts to WIN or LOSE written on them. When you choose a gamble, imagine that one ticket will be drawn blindly and at random, and the value on the ticket will determine how much you win or lose.

For example, one choice is displayed as follows:

1.
 20 tickets to LOSE \$20 25 tickets to LOSE \$1 30 tickets to LOSE \$25 15 tickets to WIN \$10 50 tickets to WIN \$200 60 tickets to WIN \$45 Choose Gamble on the Left Choose Gamble on the Right

In this case, you could choose the gamble on the LEFT, which has a 50% chance to WIN \$200, but has a 20% chance to LOSE \$20 and a 30% chance to LOSE \$20. Or, you can choose the gamble on the RIGHT, in which case you would have a 60% chance to WIN \$45, a 15% chance to WIN \$10, and a 25% chance to LOSE \$1. Some people might choose the gamble on the LEFT, which has a chance to win \$200 but risks bigger losses than the gamble on the RIGHT. Others would choose the gamble on the RIGHT, which has a smaller prize but the worst outcome is a LOSS of only \$1.

Notice that when you click the button beneath your chosen gamble, the black dot jumps from above to show which gamble you have selected.

Consider Choice 2:

2.
 5 tickets to LOSE \$44 20 tickets to get \$0 15 tickets to LOSE \$48 40 tickets to LOSE \$10 80 to tickets LOSE \$5 40 tickets to LOSE \$200 Choose Gamble on the Left Choose Gamble on the Right

Choice 2 has two unfavorable gambles. If you were forced to choose between them, which would you rather play? If you choose the gamble on the LEFT, you will lose \$5 for sure and you risk losing as much as \$48. If you choose the gamble on the RIGHT, you have a 20% chance to break even (get \$0), but you risk a 40% chance to LOSE \$200. You would rather not play either of these gambles, but we are trying to learn how people make choices in situations like this, where both choices are unfavorable.

3.
 5 tickets to WIN \$44 05 tickets to get \$0 15 tickets to WIN \$48 05 tickets to LOSE \$10 80 to tickets WIN \$50 90 tickets to WIN \$100 Choose Gamble on the Left Choose Gamble on the Right

Gamble 3 is a choice between two favorable gambles. If you choose the gamble on the LEFT, you would WIN at least \$44, but the most you can win is \$50. If you choose the gamble on the RIGHT you might WIN as much as \$100, but you might also LOSE \$10 or break even (get \$0).

#### Warmup Trials: Choices between Mixed Gambles

W1.
 15 tickets to LOSE \$49 15 tickets to LOSE \$98 15 tickets to LOSE \$45 15 tickets to LOSE \$10 70 tickets to LOSE \$200 70 tickets to LOSE \$200 Choose Gamble on the Left Choose Gamble on the Right

W2.
 15 tickets to WIN \$44 15 tickets to WIN \$10 15 tickets to WIN \$48 15 tickets to WIN \$98 70 to tickets WIN \$200 70 tickets to WIN \$200 Choose Gamble on the Left Choose Gamble on the Right

W3.
 15 tickets to LOSE \$49 15 tickets to LOSE \$98 15 tickets to LOSE \$45 15 tickets to LOSE \$10 70 to tickets WIN \$200 70 tickets to WIN \$200 Choose Gamble on the Left Choose Gamble on the Right

W4.
 15 tickets to WIN \$44 15 tickets to WIN \$10 15 tickets to WIN \$48 15 tickets to WIN \$98 70 tickets to LOSE \$200 70 tickets to LOSE \$200 Choose Gamble on the Left Choose Gamble on the Right

1.
 15 tickets to LOSE \$49 15 tickets to LOSE \$98 15 tickets to LOSE \$45 15 tickets to LOSE \$10 70 tickets to LOSE \$6 70 tickets to LOSE \$6 Choose Gamble on the Left Choose Gamble on the Right

2.
 15 tickets to LOSE \$49 15 tickets to LOSE \$98 15 tickets to LOSE \$45 15 tickets to LOSE \$10 70 to tickets WIN \$200 70 tickets to WIN \$200 Choose Gamble on the Left Choose Gamble on the Right

3.
 15 tickets to LOSE \$49 15 tickets to LOSE \$98 15 tickets to LOSE \$45 15 tickets to LOSE \$10 70 tickets to LOSE \$100 70 tickets to LOSE \$100 Choose Gamble on the Left Choose Gamble on the Right

4.
 15 tickets to WIN \$44 15 tickets to WIN \$10 15 tickets to WIN \$48 15 tickets to WIN \$98 70 tickets to WIN \$44 70 tickets to WIN \$44 Choose Gamble on the Left Choose Gamble on the Right

5.
 15 tickets to WIN \$44 15 tickets to WIN \$10 15 tickets to WIN \$48 15 tickets to WIN \$98 70 tickets to LOSE \$100 70 tickets to LOSE \$100 Choose Gamble on the Left Choose Gamble on the Right

6.
 15 tickets to WIN \$44 15 tickets to WIN \$10 15 tickets to WIN \$48 15 tickets to WIN \$98 70 tickets to LOSE \$200 70 tickets to LOSE \$200 Choose Gamble on the Left Choose Gamble on the Right

7.
 15 tickets to LOSE \$1 15 tickets to LOSE \$22 15 tickets to WIN \$4 15 tickets to WIN \$66 70 to tickets WIN \$200 70 tickets to WIN \$200 Choose Gamble on the Left Choose Gamble on the Right

8.
 15 tickets to WIN \$44 15 tickets to WIN \$10 15 tickets to WIN \$48 15 tickets to WIN \$98 70 tickets to get \$0 70 tickets to get \$0 Choose Gamble on the Left Choose Gamble on the Right

9.
 15 tickets to LOSE \$49 15 tickets to LOSE \$98 15 tickets to LOSE \$45 15 tickets to LOSE \$10 70 tickets to LOSE \$200 70 tickets to LOSE \$200 Choose Gamble on the Left Choose Gamble on the Right

10.
 15 tickets to LOSE \$49 15 tickets to LOSE \$98 15 tickets to LOSE \$45 15 tickets to LOSE \$10 70 tickets to WIN \$100 70 tickets to WIN \$100 Choose Gamble on the Left Choose Gamble on the Right

11.
 15 tickets to LOSE \$1 15 tickets to LOSE \$22 15 tickets to WIN \$4 15 tickets to WIN \$66 70 tickets to LOSE \$200 70 tickets to LOSE \$200 Choose Gamble on the Left Choose Gamble on the Right

12.
 15 tickets to WIN \$44 15 tickets to WIN \$10 15 tickets to WIN \$48 15 tickets to WIN \$98 70 tickets to LOSE \$46 70 tickets to LOSE \$46 Choose Gamble on the Left Choose Gamble on the Right

13.
 15 tickets to LOSE \$1 15 tickets to LOSE \$22 15 tickets to WIN \$4 15 tickets to WIN \$66 70 tickets to get \$0 70 tickets to get \$0 Choose Gamble on the Left Choose Gamble on the Right

14.
 15 tickets to LOSE \$1 15 tickets to LOSE \$22 15 tickets to WIN \$4 15 tickets to WIN \$66 70 tickets to LOSE \$100 70 tickets to LOSE \$100 Choose Gamble on the Left Choose Gamble on the Right

15.
 15 tickets to LOSE \$49 15 tickets to LOSE \$98 15 tickets to LOSE \$45 15 tickets to LOSE \$10 70 tickets to WIN \$6 70 tickets to WIN \$6 Choose Gamble on the Left Choose Gamble on the Right

16.
 15 tickets to LOSE \$1 15 tickets to LOSE \$22 15 tickets to WIN \$4 15 tickets to WIN \$66 70 tickets to WIN \$100 70 tickets to WIN \$100 Choose Gamble on the Left Choose Gamble on the Right

17.
 15 tickets to WIN \$44 15 tickets to WIN \$10 15 tickets to WIN \$48 15 tickets to WIN \$98 70 tickets to WIN \$6 70 tickets to WIN \$6 Choose Gamble on the Left Choose Gamble on the Right

18.
 15 tickets to WIN \$44 15 tickets to WIN \$10 15 tickets to WIN \$48 15 tickets to WIN \$98 70 tickets to WIN \$100 70 tickets to WIN \$100 Choose Gamble on the Left Choose Gamble on the Right

19.
 15 tickets to LOSE \$1 15 tickets to LOSE \$22 15 tickets to WIN \$4 15 tickets to WIN \$66 70 tickets to WIN \$6 70 tickets to WIN \$6 Choose Gamble on the Left Choose Gamble on the Right

20.
 15 tickets to LOSE \$49 15 tickets to LOSE \$98 15 tickets to LOSE \$45 15 tickets to LOSE \$10 70 tickets to get \$0 70 tickets to get \$0 Choose Gamble on the Left Choose Gamble on the Right

21.
 15 tickets to LOSE \$1 15 tickets to LOSE \$22 15 tickets to WIN \$4 15 tickets to WIN \$66 70 tickets to LOSE \$46 70 tickets to LOSE \$46 Choose Gamble on the Left Choose Gamble on the Right

22.
 15 tickets to WIN \$44 15 tickets to WIN \$10 15 tickets to WIN \$48 15 tickets to WIN \$98 70 tickets to LOSE \$6 70 tickets to LOSE \$6 Choose Gamble on the Left Choose Gamble on the Right

23.
 15 tickets to LOSE \$1 15 tickets to LOSE \$22 15 tickets to WIN \$4 15 tickets to WIN \$66 70 tickets to WIN \$44 70 tickets to WIN \$44 Choose Gamble on the Left Choose Gamble on the Right

24.
 15 tickets to LOSE \$1 15 tickets to LOSE \$22 15 tickets to WIN \$4 15 tickets to WIN \$66 70 tickets to LOSE \$6 70 tickets to LOSE \$6 Choose Gamble on the Left Choose Gamble on the Right

25.
 15 tickets to LOSE \$49 15 tickets to LOSE \$98 15 tickets to LOSE \$45 15 tickets to LOSE \$10 70 tickets to LOSE \$46 70 tickets to LOSE \$46 Choose Gamble on the Left Choose Gamble on the Right

26.
 15 tickets to WIN \$44 15 tickets to WIN \$10 15 tickets to WIN \$48 15 tickets to WIN \$98 70 to tickets WIN \$200 70 tickets to WIN \$200 Choose Gamble on the Left Choose Gamble on the Right

27.
 15 tickets to LOSE \$49 15 tickets to LOSE \$98 15 tickets to LOSE \$45 15 tickets to LOSE \$10 70 tickets to WIN \$44 70 tickets to WIN \$44 Choose Gamble on the Left Choose Gamble on the Right

28. What is your age? years.
29. Gender: Are you Male or Female?
Female
Male

30. How many years of Education have you completed? Put 12 for High School Diploma
Put 16 for college diploma (bachelor's degree).
put 20 for doctorate degree (Ph.D., M.D., etc).
Education:
31. Nationality (country of birth):