Eliciting a Value: Example

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How much is a McDonald's Quarter Pounder with Cheese worth to you right now?
The list below offers you choices between the cheeseburger and various amounts of money.
When would you switch from picking the cheeseburger to picking the cash?
I would switch at $
(Please enter a number between $0.00 and $10.00.)
(Optional: For a more in-depth explanation, click here)
Pick: Option A   OR Option B

How You Would Be Paid

If this question were chosen for payment, here's how you would be paid.

The list on the page gives you a choice between the cheeseburger (Option A) and a dollar amount (Option B) in every row. The dollar amount you type in tells us where you "switch" from choosing Option A to choosing Option B. Then one row will be chosen at random and you will be paid according to your choice in that row.

Notice that the way to get what you truly prefer on every row is to type in your true value for the cheeseburger. If you lie about your value, that will change your choices on some rows to be something you like less.

For example, suppose your true value is $5.00 but you type in $10.00. That doesn't mean you'll get $10.00. It means you pick "The cheeseburger" on every row. (Try it below.) And if the "$8.20 row" is the row that's paid then you'd end up with a cheeseburger when you'd really prefer to have the $8.20. Thus, it's in your best interest to report your value truthfully.

Try it out below to see how it works. Type in a value and watch the list update. (This is just an example; it won't affect your actual decision.)

When would you switch from picking the cheeseburger to picking the cash? I would switch at $
Pick: Option A   OR Option B

When you're ready, close this pop-up to go back and make your actual decision.