Instructions for Judging Utility Differences: Part 2 of Experiment


In this task, you are asked to judge the difference in the utility (subjective value) of winning or losing cash prizes. Imagine a game in which you get to play gambles that have prizes as bad as losing $100 or as good as winning $100. Imagine how you would feel if you WIN $100. Next, imagine how you would feel if you LOSE $100. Now, imagine the DIFFERENCE in happiness or pleasure between these two outcomes. This is the largest difference you will see in this study. You task is to rate each difference between prizes compared to this largest difference, which is the difference between a LOSS of $100 and a GAIN of $100. For example, relative to this difference, how large is the difference between a WIN of $100 and a WIN of $50?

You will click one of the dots on the rating scale to judge the absolute DIFFERENCE between the two prizes on each trial. If the two prizes are equal, there is NO DIFFERENCE, and you should click the button at the far left. If the two outcomes are LOSE $100 and WIN $100, you should click the button on the far right. If the difference is half as big as the difference between LOSE $100 and WIN $100, you should click the button in the middle.

If the difference is only one fourth of the biggest difference, you should click the button that is only one fourth of the distance from the left. If the difference is three-fourths as big as the biggest difference, you should click the button three-fourths of the way from the left to the right. Please use the entire scale to measure the ratio of the absolute difference in utility of the prizes on each trial to the largest difference. Remember, you are judging the differences in subjective value (utility) and not the difference in cash values. The numerical difference between $0 and $50 is the same as that between $50 and $100, but we are interested in learning which psychological difference is bigger, if either is bigger.

The SMALLER the difference in utility, the closer your response should be to the LEFT button. The BIGGER the difference in utility, the closer your response should be to the button on the far RIGHT. Click along the scale to indicate how big each subjective difference is compared to the difference between LOSING $100 and WINNING $100.

Warmup Trials Judging Differences in Utility


W1.

LOSE $100 WIN $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



W2.

WIN $100 WIN $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



W3.

LOSE $90 LOSE $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



W4.

WIN $0 WIN $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



W5.

LOSE $50 WIN $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



W6.

LOSE $75 WIN $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY




1.

WIN $60 LOSE $35
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



2.

LOSE $90 LOSE $35
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



3.

WIN $60 LOSE $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



4.

WIN $40 LOSE $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



5.

LOSE $10 WIN $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



6.

WIN $10 WIN $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



7.

LOSE $60 WIN $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



8.

LOSE $60 LOSE $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



9.

LOSE $10 LOSE $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



10.

LOSE $60 LOSE $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



11.

WIN $40 WIN $25
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



12.

LOSE $90 LOSE $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



13.

WIN $40 WIN $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



14.

WIN $40 WIN $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



15.

LOSE $60 WIN $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



16.

WIN $40 WIN $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



17.

WIN $90 WIN $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



18.

WIN $10 BREAK EVEN ($0)
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



19.

LOSE $10 LOSE $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



20.

WIN $10 LOSE $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



21.

LOSE $40 LOSE $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



22.

WIN $10 WIN $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



23.

WIN $10 LOSE $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



24.

WIN $10 LOSE $35
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



25.

LOSE $40 WIN $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



26.

WIN $90 WIN $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



27.

WIN $90 LOSE $35
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



28.

WIN $40 LOSE $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



29.

LOSE $90 WIN $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



30.

WIN $60 LOSE $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



31.

WIN $10 WIN $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



32.

LOSE $10 WIN $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



33.

WIN $60 LOSE $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



34.

WIN $90 WIN $25
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



35.

WIN $90 LOSE $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



36.

LOSE $90 WIN $25
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



37.

LOSE $40 WIN $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



38.

LOSE $40 LOSE $35
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



39.

LOSE $90 WIN $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



40.

LOSE $10 WIN $25
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



41.

LOSE $10 LOSE $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



42.

WIN $60 WIN $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



43.

WIN $90 WIN $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



44.

LOSE $60 LOSE $35
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



45.

LOSE $40 WIN $25
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



46.

LOSE $90 BREAK EVEN ($0)
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



47.

LOSE $10 BREAK EVEN ($0)
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



48.

WIN $90 LOSE $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



49.

LOSE $40 WIN $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



50.

LOSE $60 LOSE $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



51.

WIN $60 BREAK EVEN ($0)
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



52.

WIN $40 LOSE $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



53.

WIN $60 WIN $25
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



54.

WIN $90 LOSE $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



55.

WIN $40 LOSE $35
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



56.

LOSE $90 LOSE $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



57.

WIN $10 WIN $25
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



58.

LOSE $10 LOSE $35
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



59.

WIN $60 WIN $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



60.

WIN $60 WIN $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



61.

LOSE $60 BREAK EVEN ($0)
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



62.

LOSE $40 BREAK EVEN ($0)
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



63.

LOSE $90 WIN $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



64.

WIN $40 BREAK EVEN ($0)
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



65.

WIN $90 BREAK EVEN ($0)
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



66.

LOSE $60 WIN $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



67.

LOSE $10 WIN $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



68.

WIN $10 LOSE $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



69.

LOSE $40 LOSE $100
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



70.

LOSE $60 WIN $25
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



71.

LOSE $90 LOSE $50
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY



72.

LOSE $40 LOSE $75
NO DIFFERENCE IN UTILITY LARGEST DIFFERENCE IN UTILITY




73. Last Name:
74. First Name:
75. Email Address:
76. CWID:
77. Comments:

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

Thank You!