In this experiment you will be playing a gold mining game in which a miner will be working on mining some gold for you. Please read all the instructions carefully. A clear understanding of the instructions is critical for making decisions and earning money in the experiment.

There are four parts to the experiment. You will receive instructions for each part and will also be asked to complete a short survey after Part 4.

In this experiment, all payments are expressed in Experimental Currency Units (ECU). Your payments will be converted to Australian dollars (AUD) at a rate of 50 ECU = 1 AUD and paid to you privately at the end of the experiment via bank transfer.

You will receive 250 ECU for participating in the experiment, and you may earn additional payments throughout the experiment.

Please raise your hand if you have any questions.