### 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?
```
 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):