### Decision Making Experiment

```There is one bag, labeled as Bag A.
Bag A has exactly 100 balls that are all either yellow or white
but you do not know how many are yellow and how many are white.

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 ? yellow balls ? 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:
50 red balls to win \$1 Million
50 blue balls to win \$10,000
OR
B:
30 purple balls to win \$2 Million
70 white balls to win \$0

2. Which do you choose?

C:
90 grey balls to win \$30
10 white balls to win \$0
OR
D:
10 purple balls to win \$70
80 orange balls to win \$30
10 pink 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:
10 red balls to win \$30
10 blue balls to win \$30
80 green balls to win \$0
OR
H:
10 red balls to win \$70
10 blue balls to win \$0
80 green balls to win \$0

5. Which do you choose?

I:
40 red balls to win \$1 Million
10 orange balls to win \$1 Million
50 blue balls to win \$10,000
OR
J:
30 purple balls to win \$2 Million
40 white balls to win \$0
30 gray balls to win \$0

6. Which do you choose?

K:
10 red balls to win \$30
80 green balls to win \$30
10 blue balls to win \$0
OR
L:
10 red balls to win \$70
80 green balls to win \$30
10 blue 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):