### Instructions for Choices between Mixed Gambles

In this study, you are asked to choose between two gambles that each have three equally likely outcomes. You can imagine that there are two containers, one for each gamble that have exactly 99 tickets in them. There are 33 tickets for each outcome, meaning that each of the three outcomes is equally likely. Because there are three equally likely outcomes in each gamble, the probability to receive the first, second, or third outcome is 1/3, 1/3, and 1/3.

For example, consider the first choice below:

W1.

 First Gamble Second Gamble LOSE \$100 LOSE \$100 WIN \$10WIN \$98 WIN \$36WIN \$40 First Gamble Second Gamble

In this case the First Gamble (on the left) has equal chances of losing \$100, winning \$10, or winning \$98. The second gamble (on the right) has equal chances of losing \$100, winning \$36, or winning \$40. Some people will prefer the first gamble and some will prefer the second gamble. If you choose the first gamble, click the button on the left underneath it (on the left); to choose the second gamble, click the second button (on the right). BREAK EVEN means that you neither win or lose. WHen you see BREAK EVEN twice in a gamble, that means there are two chances to BREAK EVEN in that gamble.

#### Warmup Trials Choices between Mixed Gambles

W2.

 First Gamble Second Gamble WIN \$100 WIN \$50 LOSE \$44WIN \$44 WIN \$4WIN \$12 First Gamble Second Gamble

W3.

 First Gamble Second Gamble LOSE \$80 LOSE \$100 LOSE \$44WIN \$44 WIN \$4WIN \$12 First Gamble Second Gamble

W4.

 First Gamble Second Gamble WIN \$100 WIN \$55 WIN \$10WIN \$98 WIN \$36WIN \$40 First Gamble Second Gamble

W5.

 First Gamble Second Gamble WIN \$100 WIN \$10 WIN \$10WIN \$98 WIN \$3BREAK EVEN First Gamble Second Gamble

1.

 First Gamble Second Gamble LOSE \$4 LOSE \$4 LOSE \$44WIN \$44 LOSE \$4WIN \$4 First Gamble Second Gamble

2.

 First Gamble Second Gamble WIN \$4 WIN \$4 LOSE \$44WIN \$44 BREAK EVENBREAK EVEN First Gamble Second Gamble

3.

 First Gamble Second Gamble LOSE \$100 LOSE \$100 WIN \$10WIN \$98 WIN \$44WIN \$48 First Gamble Second Gamble

4.

 First Gamble Second Gamble LOSE \$4 LOSE \$4 LOSE \$44WIN \$44 WIN \$4WIN \$12 First Gamble Second Gamble

5.

 First Gamble Second Gamble WIN \$100 WIN \$100 LOSE \$44WIN \$44 LOSE \$4WIN \$4 First Gamble Second Gamble

6.

 First Gamble Second Gamble WIN \$4 WIN \$4 LOSE \$44WIN \$44 WIN \$4WIN \$12 First Gamble Second Gamble

7.

 First Gamble Second Gamble LOSE \$4 LOSE \$4 WIN \$10WIN \$98 WIN \$48WIN \$52 First Gamble Second Gamble

8.

 First Gamble Second Gamble LOSE \$4 LOSE \$4 LOSE \$98LOSE \$10 LOSE \$40LOSE \$36 First Gamble Second Gamble

9.

 First Gamble Second Gamble LOSE \$100 LOSE \$100 WIN \$10WIN \$98 WIN \$36WIN \$40 First Gamble Second Gamble

10.

 First Gamble Second Gamble LOSE \$4 LOSE \$4 LOSE \$98LOSE \$10 LOSE \$48LOSE \$44 First Gamble Second Gamble

11.

 First Gamble Second Gamble WIN \$100 WIN \$100 WIN \$10WIN \$98 WIN \$36WIN \$40 First Gamble Second Gamble

12.

 First Gamble Second Gamble LOSE \$4 LOSE \$4 WIN \$10WIN \$98 WIN \$40WIN \$44 First Gamble Second Gamble

13.

 First Gamble Second Gamble BREAK EVEN BREAK EVEN LOSE \$44WIN \$44 WIN \$4WIN \$12 First Gamble Second Gamble

14.

 First Gamble Second Gamble WIN \$100 WIN \$100 LOSE \$44WIN \$44 LOSE \$12LOSE \$4 First Gamble Second Gamble

15.

 First Gamble Second Gamble LOSE \$4 LOSE \$4 LOSE \$98LOSE \$10 LOSE \$52LOSE \$48 First Gamble Second Gamble

16.

 First Gamble Second Gamble WIN \$100 WIN \$100 WIN \$10WIN \$98 WIN \$44WIN \$48 First Gamble Second Gamble

17.

 First Gamble Second Gamble LOSE \$4 LOSE \$4 WIN \$10WIN \$98 WIN \$36WIN \$40 First Gamble Second Gamble

18.

 First Gamble Second Gamble BREAK EVEN BREAK EVEN WIN \$10WIN \$98 WIN \$44WIN \$48 First Gamble Second Gamble

19.

 First Gamble Second Gamble WIN \$100 WIN \$100 LOSE \$98LOSE \$10 LOSE \$52LOSE \$48 First Gamble Second Gamble

20.

 First Gamble Second Gamble WIN \$100 WIN \$100 LOSE \$44WIN \$44 BREAK EVENBREAK EVEN First Gamble Second Gamble

21.

 First Gamble Second Gamble WIN \$100 WIN \$100 LOSE \$44WIN \$44 WIN \$4WIN \$12 First Gamble Second Gamble

22.

 First Gamble Second Gamble WIN \$4 WIN \$4 WIN \$10WIN \$98 WIN \$48WIN \$52 First Gamble Second Gamble

23.

 First Gamble Second Gamble LOSE \$100 LOSE \$100 LOSE \$44WIN \$44 BREAK EVENBREAK EVEN First Gamble Second Gamble

24.

 First Gamble Second Gamble LOSE \$4 LOSE \$4 WIN \$10WIN \$98 WIN \$44WIN \$48 First Gamble Second Gamble

25.

 First Gamble Second Gamble BREAK EVEN BREAK EVEN WIN \$10WIN \$98 WIN \$36WIN \$40 First Gamble Second Gamble

26.

 First Gamble Second Gamble WIN \$100 WIN \$100 LOSE \$98LOSE \$10 LOSE \$44LOSE \$40 First Gamble Second Gamble

27.

 First Gamble Second Gamble LOSE \$4 LOSE \$4 LOSE \$98LOSE \$10 LOSE \$44LOSE \$40 First Gamble Second Gamble

28.

 First Gamble Second Gamble BREAK EVEN BREAK EVEN WIN \$10WIN \$98 WIN \$40WIN \$44 First Gamble Second Gamble

29.

 First Gamble Second Gamble LOSE \$4 LOSE \$4 LOSE \$44WIN \$44 BREAK EVENBREAK EVEN First Gamble Second Gamble

30.

 First Gamble Second Gamble LOSE \$100 LOSE \$100 LOSE \$98LOSE \$10 LOSE \$40LOSE \$36 First Gamble Second Gamble

31.

 First Gamble Second Gamble BREAK EVEN BREAK EVEN LOSE \$44WIN \$44 BREAK EVENBREAK EVEN First Gamble Second Gamble

32.

 First Gamble Second Gamble LOSE \$100 LOSE \$100 LOSE \$98LOSE \$10 LOSE \$44LOSE \$40 First Gamble Second Gamble

33.

 First Gamble Second Gamble WIN \$100 WIN \$100 LOSE \$98LOSE \$10 LOSE \$48LOSE \$44 First Gamble Second Gamble

34.

 First Gamble Second Gamble WIN \$4 WIN \$4 WIN \$10WIN \$98 WIN \$44WIN \$48 First Gamble Second Gamble

35.

 First Gamble Second Gamble BREAK EVEN BREAK EVEN LOSE \$44WIN \$44 LOSE \$4WIN \$4 First Gamble Second Gamble

36.

 First Gamble Second Gamble LOSE \$100 LOSE \$100 LOSE \$44WIN \$44 LOSE \$12LOSE \$4 First Gamble Second Gamble

37.

 First Gamble Second Gamble WIN \$4 WIN \$4 WIN \$10WIN \$98 WIN \$40WIN \$44 First Gamble Second Gamble

38.

 First Gamble Second Gamble WIN \$4 WIN \$4 LOSE \$98LOSE \$10 LOSE \$44LOSE \$40 First Gamble Second Gamble

39.

 First Gamble Second Gamble WIN \$4 WIN \$4 LOSE \$98LOSE \$10 LOSE \$40LOSE \$36 First Gamble Second Gamble

40.

 First Gamble Second Gamble WIN \$4 WIN \$4 LOSE \$44WIN \$44 LOSE \$12LOSE \$4 First Gamble Second Gamble

41.

 First Gamble Second Gamble BREAK EVEN BREAK EVEN LOSE \$98LOSE \$10 LOSE \$44LOSE \$40 First Gamble Second Gamble

42.

 First Gamble Second Gamble LOSE \$100 LOSE \$100 LOSE \$98LOSE \$10 LOSE \$48LOSE \$44 First Gamble Second Gamble

43.

 First Gamble Second Gamble LOSE \$100 LOSE \$100 WIN \$10WIN \$98 WIN \$40WIN \$44 First Gamble Second Gamble

44.

 First Gamble Second Gamble WIN \$100 WIN \$100 WIN \$10WIN \$98 WIN \$40WIN \$44 First Gamble Second Gamble

45.

 First Gamble Second Gamble BREAK EVEN BREAK EVEN WIN \$10WIN \$98 WIN \$48WIN \$52 First Gamble Second Gamble

46.

 First Gamble Second Gamble WIN \$4 WIN \$4 LOSE \$98LOSE \$10 LOSE \$52LOSE \$48 First Gamble Second Gamble

47.

 First Gamble Second Gamble BREAK EVEN BREAK EVEN LOSE \$98LOSE \$10 LOSE \$52LOSE \$48 First Gamble Second Gamble

48.

 First Gamble Second Gamble WIN \$100 WIN \$100 LOSE \$98LOSE \$10 LOSE \$40LOSE \$36 First Gamble Second Gamble

49.

 First Gamble Second Gamble LOSE \$100 LOSE \$100 LOSE \$44WIN \$44 WIN \$4WIN \$12 First Gamble Second Gamble

50.

 First Gamble Second Gamble WIN \$4 WIN \$4 LOSE \$44WIN \$44 LOSE \$4WIN \$4 First Gamble Second Gamble

51.

 First Gamble Second Gamble LOSE \$100 LOSE \$100 WIN \$10WIN \$98 WIN \$48WIN \$52 First Gamble Second Gamble

52.

 First Gamble Second Gamble LOSE \$100 LOSE \$100 LOSE \$98LOSE \$10 LOSE \$52LOSE \$48 First Gamble Second Gamble

53.

 First Gamble Second Gamble BREAK EVEN BREAK EVEN LOSE \$98LOSE \$10 LOSE \$40LOSE \$36 First Gamble Second Gamble

54.

 First Gamble Second Gamble LOSE \$4 LOSE \$4 LOSE \$44WIN \$44 LOSE \$12LOSE \$4 First Gamble Second Gamble

55.

 First Gamble Second Gamble BREAK EVEN BREAK EVEN LOSE \$98LOSE \$10 LOSE \$48LOSE \$44 First Gamble Second Gamble

56.

 First Gamble Second Gamble WIN \$4 WIN \$4 WIN \$10WIN \$98 WIN \$36WIN \$40 First Gamble Second Gamble

57.

 First Gamble Second Gamble WIN \$100 WIN \$100 WIN \$10WIN \$98 WIN \$48WIN \$52 First Gamble Second Gamble

58.

 First Gamble Second Gamble BREAK EVEN BREAK EVEN LOSE \$44WIN \$44 LOSE \$12LOSE \$4 First Gamble Second Gamble

59.

 First Gamble Second Gamble LOSE \$100 LOSE \$100 LOSE \$44WIN \$44 LOSE \$4WIN \$4 First Gamble Second Gamble

60.

 First Gamble Second Gamble WIN \$4 WIN \$4 LOSE \$98LOSE \$10 LOSE \$48LOSE \$44 First Gamble Second Gamble

61. Email Address: years.
62. Gender: Are you Male or Female?
Female
Male

63. Age:
64. Nationality (country of birth):
65. CWID:

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