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Cataloged Resource Summary

 

Title

Probability Matching Experiment

Author

Charles Holt

Category

Information and Uncertainty

Type

Experiment Software

Description

This program sets up an individual decision problem in which the subject must guess which of two random events will occur. The probability of the more likely event is specified by the experimenter but unknown to the subject, who learns through repeated trials. The program also allows specification of a monetary reward for a correct guess and a smaller reward (or penalty) for an incorrect guess. In addition, there is a hypothetical ("do your best") treatment option. Finally, you specify the number of trials and an initial fixed payment.

URL

http://veconlab.econ.virginia.edu/pm/pm.php
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