The experiment will be carried out by university students of different majors. There is a random incentive for participation: a small number of randomly drawn participants will receive a fixed payment, plus a bonus which depends on their score in the IQ test. The participants will complete the experiment using their mobile device in a classroom. For the IQ test we employ a factorial design with three scoring rules (Standard, Randomization and Split) and two time constraints (Tight vs. Loose), which gives six treatments. Each participant will be randomly assigned into one of the treatments. Before the test, participants will complete some practice items, and a series of comprehension questions on the experimental instructions. After the IQ test, the participants fill in a questionnaire with the following questions:
1. Hypothetical lottery choice questions (Global Preference Survey, Falk et al. 2018);
2. Big Five Personality Test: a brief, 10-question version (Rammstedt and John 2007);
3. Maximization and Regret Scales (Schwartz et al. 2002);
4. Self-assessed willingness to take risk (Global Preference Survey, Falk et al. 2018);
5. Questions on preference for randomization (Rubinstein 2002);
6. Task-related questions, e.g. opt-in for feedback on relative performance.