Appendix A

Instructions used in the experiment

This appendix contains the written instructions that were distributed among participants of the experiment described in Chapter 4, translated into English. The experiment was conducted in Dutch; the original Dutch instructions are available from the author upon request. In the experiment we used four different versions of the written instructions—two for the two payoff conditions (high risk and low risk) and two for the different information conditions. We present the instructions for the high risk, local information condition. The instructions for the low-risk condition differ only from those in the high-risk condition with regard to the payoffs shown in Figure A.1. In the instructions for the global information condition some sentences were formulated somewhat differently as compared with the local information condition. In the text below, these differences are indicated by footnotes. The numbering of tables and figures in the instructions has been adapted from the original version to be in line with the rest of the dissertation; otherwise, the layout has been preserved as much as possible.


Figure A.1 Choices and points.



Part 1

Welcome to this experiment, and thank you for coming. Please read the instructions until the bottom of page 7, marked “End of Instruction Part 1.” If you at that point ...

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