Imagine that you play a game in which you can win or lose different amounts of money. In this study the amounts to win or lose are as follows:
LOSE $100, LOSE $80, LOSE $60, LOSE $40, LOSE $20, BREAK EVEN $0, WIN $10, WIN $20, WIN $30, WIN $40, WIN $50
Imagine how you would feel winning or losing these amounts of money. Is the difference between breaking even ($0) and winning $50 the same as the difference between breaking even and losing $50? In this task, we ask you to judge DIFFERENCES in utility (subjective value or feeling) between these different experiences.
To make your judgments, you will click along a line to show which experience is better and by how much. You will click along the scale to judge the difference in how you would feel: if you prefer the outcome on the left, click to the left of the midpoint on the scale, and if you prefer the outcome on the right, click to the right. Also, you should click along the line to show the magnitude of the difference. Click farthest to the right for the greatest difference preferring the outcome on the right and farthest to the left for the greatest difference favoring the outcome on the left. look at Example 1 below, which reprents a choice between WIN $20 and WIN $40. First ask youself, which would you rather have? You would rather WIN $40 than $20, right? Then