Experimental Design
This is a laboratory experiment, conducted in a standard university experimental economics lab, recruiting students broadly across the university by email using ORSEE.
The experiment consists of two blocks individual belief updating tasks, a cognitive ability test, an overconfidence, a lottery selection task, and a survey. The two blocks of belief updating tasks consist of one block for each of the within-subject treatments. The order of the two blocks is randomized at the session level. Subjects also complete a paid instructions comprehension quiz before beginning their session.