Part 1 Instructions - Page 1 of 8
Experiment
This is an experiment in
2 parts
.
Rounds
This part of the experiment,
part 1
of 2, consists of
20 rounds
.
One Seller and Two Buyers
This is an experiment for
one seller
and
two buyers
. In each round, the Seller may sell
a maximum of 2 identical items to each buyer
, that is, a maximum of 4 items in all.
Seller
Your role will be that of
Seller
. You will begin each round by choosing a price or prices. You may be told to choose a single price per item, regardless of the quantity or the identity of the buyer, or you may be able to discriminate by charging different prices for different buyers or different quantities.
Buyer A and Buyer B
There are two buyers, called
Buyer A
and
Buyer B
, whose roles will be taken by the computer.
Profit
Your profit depends on the number of items you sell and the price or prices you choose.