Instructions for "Risk Attitudes"

Please, make 12 choices. Each time decide whether you prefer to take risk or rather to receive (pay) a certain amount of money.

For example, look at the first choice below. This is a choice between (A) A 50-50 chance to receive either $50 or $0 OR (B) A sure payment of $25. If you click the first button, it means you would prefer to take a chance to win the prize of $50 but you might get nothing ($0). If you click the second button, it means you prefer to receive $25 for sure.

Some people would prefer to take the chance and others would rather get the sure thing. What would you choose, if you had to make the decision for real money?

Some of the choices involve losses. For example, Ch4 offers a choice between a 50-50 chance to lose either $50 or $0, and a sure loss of $25. If you were forced to make a choice between these two alternatives, which one would you choose?

Ch1
    A. You win $50 with a probability of 50% or you win nothing
    B. You receive $25

Ch2
    A. You win $100 with a probability of 50% or you win nothing
    B. You receive $50

Ch3
    A. You win $200 with a probability of 50% or you win nothing
    B. You receive $100

Ch4
    A. You lose $50 with a probability of 50% or you lose nothing
    B. You pay $25

Ch5
    A. You lose $100 with a probability of 50% or you lose nothing
    B. You pay $50

Ch6
    A. You lose $200 with a probability of 50% or you lose nothing
    B. You pay $100

Ch7
    A. You win $500 with a probability of 5% or you win nothing
    B. You receive $25

Ch8
     A. You win $1000 with a probability of 5% or you win nothing
     B. You receive $50

Ch9
    A. You win $2000 with a probability of 5% or you win nothing
    B. You receive $100

Ch10
    A. You lose $500 with a probability of 5% or you lose nothing
    B. You pay $25

Ch11
    A. You lose $1000 with a probability of 5% or you lose nothing
    B. You pay $50

Ch12
    A. You lose $2000 with a probability of 5% or you lose nothing
    B. You pay $100

Your sex:  Male     Female

Your age:   years.

Country where you live:  

Your university (or institution where you work):  

Please check whether all answers have been given, and whether they are correct. When you are done, push the button below.

Thank You!