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1. LAST NAME:

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Instructions for Judgment and Decision Making: Judging Utility


This is the first part of a study of the utility of winning or losing money. We hope to measure psychological values; that is, we would like to put numbers on sensations or feelings.

Imagine you play a game in which money could be won or lost by the toss of a coin. How would you feel if you won or lost money? In this study, we would like to measure the utility of winning or losing the following amounts:

LOSE $100, LOSE $80, LOSE $60, LOSE $40, LOSE $20,
BREAK EVEN $0,
WIN $10, WIN $20, WIN $30, WIN $40, WIN $50
How would you feel if you WON $50? How would you feel if you LOSE $100? How would you feel if you BREAK EVEN ($0); that is, if you neither win nor lose anything?

Read the amounts listed above, then rate how happy or unhappy you would be to win or lose these amounts, using the 9-point rating scale, where the buttons are defined as follows, from left to right:

1 = very very unhappy
2 = very unhappy
3 = unhappy
4 = slightly unhappy
5 = neutral (neither happy nor unhappy)
6 = slightly happy
7 = happy
8 = very happy
9 = very very happy


4. LOSE $100
very very unhappy   very very happy

5. LOSE $80
very very unhappy   very very happy

6. LOSE $60
very very unhappy   very very happy

7. LOSE $40
very very unhappy   very very happy

8. LOSE $20
very very unhappy   very very happy

9. BREAK EVEN ($0)
very very unhappy   very very happy

10. WIN $10
very very unhappy   very very happy

11. WIN $20
very very unhappy   very very happy

12. WIN $30
very very unhappy   very very happy

13. WiN $40
very very unhappy   very very happy

14. WIN $50
very very unhappy   very very happy

Now that you have practiced the task, please read the instructions again and continue to judge utility of gains or losses below.

15. LOSE $100
very very unhappy   very very happy

16. LOSE $80
very very unhappy   very very happy

17. LOSE $60
very very unhappy   very very happy

18. LOSE $40
very very unhappy   very very happy

19. LOSE $20
very very unhappy   very very happy

20. BREAK EVEN ($0)
very very unhappy   very very happy

21. WIN $10
very very unhappy   very very happy

22. WIN $20
very very unhappy   very very happy

23. WIN $30
very very unhappy   very very happy

24. WIN $40
very very unhappy   very very happy

25. WIN $50
very very unhappy   very very happy

26. Please review your answers above, make sure that you have answered all of the questions, and made any adjustments to your answers to reflect your subjective utilities. When you have checked everything, if everything is complete and correct, type "YES" in this box.

27. Are you Male or Female?
Female
Male

28. What is your age? years.

29. What is the highest level of education you have completed?

30. Nationality (country of birth):

31. COMMENTS:

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

Thank You!