Instructions for Decision Making


In this study, each gamble is an urn containing either two or three tickets. Each ticket is identical, except that they have different prize values printed on them. One ticket will be drawn blindly and randomly from your chosen gamble to determine your prize. Assume that each ticket is equally likely to be drawn. For example, in Choice W1 below, the first gamble has two tickets that win $25 or $40 and the second gamble has two tickets as well, which might win either $5 or $95. Which gamble would you rather play? Click the button to indicate your choice.

Decision Making


W1.
First Gamble: ($25, $40)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


W2.
First Gamble: ($50, $55, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


W3.
First Gamble: ($15, $20, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


W4.
First Gamble: ($4, $96, $97)
OR
Second Gamble: ($48, $52, $97)

Choose First Gamble Choose Second Gamble


W5.
First Gamble: ($4, $96)
OR
Second Gamble: ($48, $52)

Choose First Gamble Choose Second Gamble


W6.
First Gamble: ($50, $55)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble



1.
First Gamble: ($4, $96)
OR
Second Gamble: ($48, $52)

Choose First Gamble Choose Second Gamble


2.
First Gamble: ($30, $35)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


3.
First Gamble: ($4, $96, $97)
OR
Second Gamble: ($14, $18, $97)

Choose First Gamble Choose Second Gamble


4.
First Gamble: ($2, $40, $45)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


5.
First Gamble: ($4, $96)
OR
Second Gamble: ($42, $46)

Choose First Gamble Choose Second Gamble


6.
First Gamble: ($30, $35, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


7.
First Gamble: ($4, $96, $97)
OR
Second Gamble: ($39, $43, $97)

Choose First Gamble Choose Second Gamble


8.
First Gamble: ($45, $50)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


9.
First Gamble: ($3, $4, $96)
OR
Second Gamble: ($3, $14, $18)

Choose First Gamble Choose Second Gamble


10.
First Gamble: ($15, $20, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


11.
First Gamble: ($4, $96)
OR
Second Gamble: ($36, $40)

Choose First Gamble Choose Second Gamble


12.
First Gamble: ($2, $45, $50)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


13.
First Gamble: ($3, $4, $96)
OR
Second Gamble: ($3, $48, $52)

Choose First Gamble Choose Second Gamble


14.
First Gamble: ($40, $45)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


15.
First Gamble: ($3, $4, $96)
OR
Second Gamble: ($3, $45, $49)

Choose First Gamble Choose Second Gamble


16.
First Gamble: ($2, $25, $30)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


17.
First Gamble: ($4, $96)
OR
Second Gamble: ($33, $37)

Choose First Gamble Choose Second Gamble


18.
First Gamble: ($50, $55, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


19.
First Gamble: ($4, $96, $97)
OR
Second Gamble: ($36, $40, $97)

Choose First Gamble Choose Second Gamble


20.
First Gamble: ($20, $25, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


21.
First Gamble: ($3, $4, $96)
OR
Second Gamble: ($3, $39, $43)

Choose First Gamble Choose Second Gamble


22.
First Gamble: ($40, $45, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


23.
First Gamble: ($4, $96)
OR
Second Gamble: ($30, $34)

Choose First Gamble Choose Second Gamble


24.
First Gamble: ($2, $20, $25)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


25.
First Gamble: ($4, $96, $97)
OR
Second Gamble: ($48, $52, $97)

Choose First Gamble Choose Second Gamble


26.
First Gamble: ($35, $40, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


27.
First Gamble: ($4, $96)
OR
Second Gamble: ($39, $43)

Choose First Gamble Choose Second Gamble


28.
First Gamble: ($50, $55)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


29.
First Gamble: ($4, $96)
OR
Second Gamble: ($45, $49)

Choose First Gamble Choose Second Gamble


30.
First Gamble: ($2, $35, $40)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


31.
First Gamble: ($4, $96, $97)
OR
Second Gamble: ($27, $31, $97)

Choose First Gamble Choose Second Gamble


32.
First Gamble: ($2, $15, $20)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


33.
First Gamble: ($3, $4, $96)
OR
Second Gamble: ($3, $33, $37)

Choose First Gamble Choose Second Gamble


34.
First Gamble: ($2, $50, $55)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


35.
First Gamble: ($4, $96, $97)
OR
Second Gamble: ($42, $46, $97)

Choose First Gamble Choose Second Gamble


36.
First Gamble: ($35, $40)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


37.
First Gamble: ($4, $96, $97)
OR
Second Gamble: ($33, $37, $97)

Choose First Gamble Choose Second Gamble


38.
First Gamble: ($25, $30)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


39.
First Gamble: ($4, $96, $97)
OR
Second Gamble: ($30, $34, $97)

Choose First Gamble Choose Second Gamble


40.
First Gamble: ($25, $30, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


41.
First Gamble: ($3, $4, $96)
OR
Second Gamble: ($3, $36, $40)

Choose First Gamble Choose Second Gamble


42.
First Gamble: ($2, $30, $35)
OR
Second Gamble: ($2, $5, $95)

Choose First Gamble Choose Second Gamble


43.
First Gamble: ($3, $4, $96)
OR
Second Gamble: ($3, $30, $34)

Choose First Gamble Choose Second Gamble


44.
First Gamble: ($15, $20)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


45.
First Gamble: ($4, $96)
OR
Second Gamble: ($14, $18)

Choose First Gamble Choose Second Gamble


46.
First Gamble: ($45, $50, $98)
OR
Second Gamble: ($5, $95, $98)

Choose First Gamble Choose Second Gamble


47.
First Gamble: ($3, $4, $96)
OR
Second Gamble: ($3, $42, $46)

Choose First Gamble Choose Second Gamble


48.
First Gamble: ($20, $25)
OR
Second Gamble: ($5, $95)

Choose First Gamble Choose Second Gamble


49.
First Gamble: ($4, $96)
OR
Second Gamble: ($27, $31)

Choose First Gamble Choose Second Gamble


50.
First Gamble: ($4, $96, $97)
OR
Second Gamble: ($45, $49, $97)

Choose First Gamble Choose Second Gamble


51.
First Gamble: ($3, $4, $96)
OR
Second Gamble: ($3, $27, $31)

Choose First Gamble Choose Second Gamble



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