Part 1 Instructions - Page 1 of 3

  • Experiment
    This is an experiment in 3 parts.

  • Rounds
    This part of the experiment consists of 5 rounds.

  • Players
    This is an experiment for 2 players, called player 1 and player 2. You will be told which player you are at the start of the first round. You will not change roles during this part of the experiment: in other words, if you start off as player 1 in the first round, then you will remain player 1 in subsequent rounds.

  • Objects
    There are 4 objects, labelled A, B, C and D. These objects are worth different amounts of money to each player. For example, object A might be the most valuable object to player 1 but the least valuable object to player 2. The valuations are common knowledge, i.e. the players know the value of the objects to the other players as well as the value to themselves.

  • Choices
    The 2 players take turns to choose an object. First to choose is player 1, who chooses one of the 4 objects. The chosen object becomes player 1's property and cannot be chosen a second time by anyone. Second to choose is player 2, who chooses one of the 3 remaining objects. Finally, player 2 chooses one of the 2 remaining objects, leaving just 1 object un-chosen, which becomes player 1's property by default.

  • Play Order
    As described above, the play order, which is the order in which the players choose an object, is 1221. The play order is the same for each round of this part of the experiment.

  • Multiple Random Matchings
    You will be re-matched at the start of each round with another person selected at random from the other participants. There will be a new random matching each round, so you may or may not be matched with the same person in two consecutive rounds. The matchings are random, so you are no more likely to be matched with one participant than with another.