The following webpage presents an emulation of one round of the experiment conducted in the paper 'Paying is Believing: The Effect of Costly Information on Bayesian Updating'.

You will be presented with an identical decision environment to the one subjects participating in the Costly treatment (see Section 2.2) faced. Notice that this emulation has only one round, while in the experiment participants faced 40 repetitive and identical rounds.

This emulation is compatible only with the latest versions of Chrome, Firefox, Internet Explorer and Safari.