Instructions for Choice from Envelope Participant name ... TO2.0 Instructions for Choice from Envelope First value Second value Third value Fourth value y1 = €. ... y2 = €. ... y3 = €. ... y4 = €. ...

Determining first number TO2.1 Determining first number y1 ½ Left prospect Right prospect ½ €Y €25 €3 €16 Your envelope may contain two prospects of the above form. For each nr. Y, instruct which prospect you want to be taken from the envelope if its content is as above. For small values of Y you prefer the right prospect. For large values of Y you prefer the left prospect. For some value of Y, which we call y1, your preference switches. Fill this switching value in below, and then on page TO2.0. y1 = ... 2

Determining second number TO2.2 Determining second number y2 ... First substitute your value y1 here. ½ €Y €3 €16 You have substituted your value y1. To indicate your instructions, determine your switching value of Y again. We call it y2 (obviously, y2 > y1). Fill it in below and on page TO2.0. y2 = ...

Determining third number TO2.3 Determining third number y3 ... First substitute your value y2 here. ½ €Y €3 €16 You have substituted your value y2. Indicate your instructions by determining your switching value of Y again. We call it y3 (obviously, y3 > y2). Fill it in below and on page TO2.0. y3 = ...

Determining fourth number TO2.4 Determining fourth number y4 ... First substitute your value y3 here. ½ €Y €3 €16 You have substituted your value y3. Indicate your instructions by determining your switching value of Y again. We call it y4 (obviously, y4 > y3). Fill it in below and on page TO2.0. y4 = ...