Decision Making Experiment


There is one bag, labeled as Bag A.  
Bag A is filled with exactly 50 yellow balls and 50 white balls.  

First, you choose which color (white or yellow) to bet on.
   Next, a ball will be drawn randomly from Bag A.  
   If your color is drawn, then you win $100; otherwise you win $0 (nothing).  
   What is the most (amount of money) that you would pay to play Bag A? 
   Please type your answers in the boxes provided.
Bag A
50 yellow balls
50 white balls
______________________
100 total balls
$

For the choice below Gamble A has 50 red balls that win $1 Million 
and 50 blue balls that win $10,000, so the probability to win $1 Million is .50 
and the probability to get $10,000 is .50.  

If someone reaches in bag A, half the time they might win $10,000 and half the 
time $1 Million.  But in this study, you only get to play a gamble once, so the 
prize will be either $10,000 or $1 Million.  Gamble B's bag has 100 balls also, 
but 30 of them win $2 Million and 70 of them win $0.  Bag A guarantees 
you win at least $10,000. With Bag B you can win $2 Million, but you might win nothing.  
To mark your choice, click the button next to A or B.  


1. Which do you choose?
          
       A: 
        10 red balls to win $30 
        80 green balls to win $30
        10 blue balls to win $0
      OR
      B: 
        10 red balls to win $70
        80 green balls to win $30 
        10 blue balls to win $0
                
2. Which do you choose?
          
       C:
        10 red balls to win $30 
        10 blue balls to win $30
        80 green balls to win $0
      OR
       D: 
        10 red balls to win $70
        10 blue balls to win $0 
        80 green balls to win $0

3. Which do you choose?
          
       E: 
        20 grey balls to win $30 
        80 white balls to win $0
      OR
       F: 
        10 purple balls to win $70
        90 orange balls to win $0 

4. Which do you choose?
          
       G: 
        40 red balls to win $1 Million
        10 orange balls to win $1 Million
        50 blue balls to win $10,000
      OR
       H: 
        30 purple balls to win $2 Million
        40 white balls to win $0 
        30 gray balls to win $0

5. Which do you choose?
          
       I: 
        90 grey balls to win $30 
        10 white balls to win $0
      OR
      J: 
        10 purple balls to win $70
        80 orange balls to win $30 
        10 pink balls to win $0

6. Which do you choose?
          
       K: 
        50 red balls to win $1 Million
        50 blue balls to win $10,000
      OR
       L: 
        30 purple balls to win $2 Million
        70 white balls to win $0 


7. Are you Male or Female?
Female
Male

8. What is your age? years.

9. What is the highest level of education you have completed?

10. Nationality (country of birth):

11. COMMENTS (CSUF Students: Enter CSUF and 4 digits of ID):

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

Thank You!