This is an experiment in behavioral economics. The content of the experiment is: There are three boxes, you will randomly choose a number from 1-100 and try to choose two boxes from the three boxes to get benefits. Box A: If your chosen number is within 20 of a random number, you will get $10. (if the random number is 50, your number is 30-70, you can get $10) Box B: If your chosen number is within 10 of a random number, you will get $25. Box C: If your chosen number is within 5 of a random number, you will receive $100. There are 5 rounds in total, each round you can choose a number and choose two boxes.

A total of 5 rounds of the experiment, and a total of 4 people participated.

P1: Round 1: Boxes: A, B. Number: 34. Round 2: Boxes: A, B. Number: 34. Round 3: Boxes: A, B. Number: 34. Round 4: Boxes: A, B. Number: 54. Round 5: Boxes: A, B. Number: 54.

P2: Round 1: Boxes: A, C. Number: 50. Round 2: Boxes: A, C. Number: 50. Round 3: Boxes: A, C. Number: 50. Round 4: Boxes: A, C. Number: 50. Round 5: Boxes: A, C. Number: 50.

P3: Round 1: Boxes: A, B. Number: 50. Round 2: Boxes: A, C. Number: 50. Round 3: Boxes: A, C. Number: 50. Round 4: Boxes: A, C. Number: 50. Round 5: Boxes: B, C. Number: 45.

P4: Round 1: Boxes: A, B. Number: 42. Round 2: Boxes: B, C. Number: 42. Round 3: Boxes: B, C. Number: 42. Round 4: Boxes: B, C. Number: 42. Round 5: Boxes: B, C. Number: 42.

random number of round 1: 70. random number of round 2: 40. random number of round 3: 63. random number of round 4: 51. random number of round 5: 36.

Data analysis (i.e., describe what you found, create some graph(s), calculate difference in means between 2 treatments)Make some data graphs to calculate the income of the each player, and use the logic of behavioral economics to analyze the behavior of the above players.

Answer rating: 100% (QA)

we have four participants P1 P2 P3 P4 who each participated in five rounds of the experiment The participants selected two boxes A B or C and chose a ... View the full answer