Instructions for Comparing Utility Differences: Part 4 of 4


Imagine winning or losing cash prizes from WIN $100 to LOSE $100.

How would you feel if you LOSE $100?

How would you feel if you LOSE $50?

How would you feel if you BREAK EVEN?

How would you feel if you WIN $50?

How would you feel if you WIN $100?

In this study, you are asked to compare utility differences; that is, you will compare an absolute utility difference with another absolute utility difference.

For example, is the difference between BREAK EVEN and LOSE $100 bigger than the difference between WIN $100 and BREAK EVEN? This example will be displayed as follows:

W1.
First Difference: (BREAK EVEN - LOSE $100)
Second Difference: (WIN $100 - BREAK EVEN)
First Difference is Bigger Second Difference is Bigger

If you think that the first difference in psychological utility is larger, you should click the button on the LEFT. If you think the second difference is larger, you should click the button on the RIGHT. If you think these two differences are subjectively equal, you should click the CENTER button.

In each case, you should imagine the difference in how you would feel to win or lose each of the two amounts, imagine the difference, and then indicate which absolute difference is larger.

You are NOT asked to do arithmetic with the cash prize values. Your task is to evaluate how you would feel subjectively to win or lose those amounts and then compare the subjective differences in how you would feel.

Warmup Trials Comparing Utility Differences


W1.
First Difference: (BREAK EVEN - LOSE $100)
Second Difference: (LOSE $50 - LOSE $100)
First Difference is Bigger Second Difference is Bigger

W2.
First Difference: (WIN $100 - LOSE $100)
Second Difference: (BREAK EVEN - WIN $100)
First Difference is Bigger Second Difference is Bigger

W3.
First Difference: (LOSE $50 - LOSE $100)
Second Difference: (WIN $100 - LOSE $100)
First Difference is Bigger Second Difference is Bigger

W4.
First Difference: (LOSE $50 - LOSE $100)
Second Difference: (BREAK EVEN - LOSE $50)
First Difference is Bigger Second Difference is Bigger

W5.
First: (BREAK EVEN - LOSE $100)
Second: (BREAK EVEN - LOSE $100)
First Difference is Bigger Second Difference is Bigger

1.
First: (WIN $50 - BREAK EVEN)
Second: (WIN $50 - LOSE $50)
First Difference is Bigger Second Difference is Bigger

2.
First: (BREAK EVEN - LOSE $100)
Second: (BREAK EVEN - LOSE $100)
First Difference is Bigger Second Difference is Bigger

3.
First: (LOSE $50 - LOSE $100)
Second: (BREAK EVEN - LOSE $50)
First Difference is Bigger Second Difference is Bigger

4.
First: (WIN $100 - LOSE $100)
Second: (WIN $100 - LOSE $100)
First Difference is Bigger Second Difference is Bigger

5.
First: (WIN $100 - BREAK EVEN)
Second: (BREAK EVEN - LOSE $50)
First Difference is Bigger Second Difference is Bigger

6.
First: (WIN $100 - WIN $50)
Second: (WIN $100 - LOSE $100)
First Difference is Bigger Second Difference is Bigger

7.
First: (WIN $50 - BREAK EVEN)
Second: (WIN $100 - WIN $50)
First Difference is Bigger Second Difference is Bigger

8.
First: (WIN $50 - BREAK EVEN)
Second: (LOSE $50 - LOSE $100)
First Difference is Bigger Second Difference is Bigger

9.
First: (WIN $100 - WIN $50)
Second: (WIN $50 - LOSE $50)
First Difference is Bigger Second Difference is Bigger

10.
First: (WIN $100 - WIN $50)
Second: (LOSE $50 - LOSE $100)
First Difference is Bigger Second Difference is Bigger

11.
First: (WIN $50 - BREAK EVEN)
Second: (BREAK EVEN - LOSE $100)
First Difference is Bigger Second Difference is Bigger

12.
First: (WIN $50 - LOSE $50)
Second: (LOSE $50 - LOSE $100)
First Difference is Bigger Second Difference is Bigger

13.
First: (WIN $100 - WIN $50)
Second: (WIN $50 - BREAK EVEN)
First Difference is Bigger Second Difference is Bigger

14.
First: (BREAK EVEN - LOSE $50)
Second: (BREAK EVEN - LOSE $100)
First Difference is Bigger Second Difference is Bigger

15.
First: (BREAK EVEN - LOSE $50)
Second: (WIN $100 - BREAK EVEN)
First Difference is Bigger Second Difference is Bigger

16.
First: (WIN $100 - BREAK EVEN)
Second: (BREAK EVEN - LOSE $100)
First Difference is Bigger Second Difference is Bigger

17.
First: (WIN $50 - LOSE $50)
Second: (BREAK EVEN - LOSE $100)
First Difference is Bigger Second Difference is Bigger

18.
First: (WIN $100 - BREAK EVEN)
Second: (WIN $50 - LOSE $50)
First Difference is Bigger Second Difference is Bigger

19.
First: (WIN $100 - WIN $50)
Second: (BREAK EVEN - LOSE $100)
First Difference is Bigger Second Difference is Bigger

20.
First: (WIN $50 - LOSE $50)
Second: (WIN $100 - BREAK EVEN)
First Difference is Bigger Second Difference is Bigger

21.
First: (LOSE $50 - LOSE $100)
Second: (WIN $100 - BREAK EVEN)
First Difference is Bigger Second Difference is Bigger

22.
First: (BREAK EVEN - LOSE $50)
Second: (WIN $50 - BREAK EVEN)
First Difference is Bigger Second Difference is Bigger

23.
First: (BREAK EVEN - LOSE $100)
Second: (WIN $50 - BREAK EVEN)
First Difference is Bigger Second Difference is Bigger

24.
First: (WIN $50 - LOSE $50)
Second: (WIN $100 - WIN $50)
First Difference is Bigger Second Difference is Bigger

25.
First: (WIN $50 - BREAK EVEN)
Second: (BREAK EVEN - LOSE $50)
First Difference is Bigger Second Difference is Bigger

26.
First: (LOSE $50 - LOSE $100)
Second: (WIN $50 - LOSE $50)
First Difference is Bigger Second Difference is Bigger

27.
First: (LOSE $50 - LOSE $100)
Second: (WIN $50 - BREAK EVEN)
First Difference is Bigger Second Difference is Bigger

28.
First: (WIN $50 - LOSE $50)
Second: (BREAK EVEN - LOSE $50)
First Difference is Bigger Second Difference is Bigger

29.
First: (WIN $100 - WIN $50)
Second: (BREAK EVEN - LOSE $50)
First Difference is Bigger Second Difference is Bigger

30.
First: (WIN $100 - LOSE $100)
Second: (BREAK EVEN - LOSE $100)
First Difference is Bigger Second Difference is Bigger

31.
First: (BREAK EVEN - LOSE $50)
Second: (LOSE $50 - LOSE $100)
First Difference is Bigger Second Difference is Bigger

32.
First: (LOSE $50 - LOSE $100)
Second: (WIN $100 - WIN $50)
First Difference is Bigger Second Difference is Bigger

33.
First: (BREAK EVEN - LOSE $100)
Second: (WIN $50 - LOSE $50)
First Difference is Bigger Second Difference is Bigger

34.
First: (BREAK EVEN - LOSE $100)
Second: (WIN $100 - BREAK EVEN)
First Difference is Bigger Second Difference is Bigger

35.
First: (WIN $100 - LOSE $100)
Second: (LOSE $50 - LOSE $100)
First Difference is Bigger Second Difference is Bigger

36.
First: (BREAK EVEN - LOSE $50)
Second: (WIN $100 - WIN $50)
First Difference is Bigger Second Difference is Bigger

37.
First: (BREAK EVEN - LOSE $100)
Second: (WIN $100 - WIN $50)
First Difference is Bigger Second Difference is Bigger

38.
First: (WIN $100 - BREAK EVEN)
Second: (LOSE $50 - LOSE $100)
First Difference is Bigger Second Difference is Bigger

39. LAST NAME:
40. FIRST NAME
41. Email:
42. CWID:
43. Comments:

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

Thank You!