Question pretext
ENUMERATOR: Now we are going to do another exercise that involves real money. As before, this money comes from my independent research company and does not come from the government. I will ask you to choose between receiving some money now, or receiving more money later. As before, the money in this exercise is REAL. You will receive an amount that depends on your choices, and also on luck. No matter what, you will win something in this came, and you cannot lose any money. Please take these beans. Each of them is worth 500, and there are 12 beans, so in total these are worth 6,000. I would like you to split the 12 beans between two time periods: “NOW” and “FUTURE”. For every 1 bean that you put in “NOW”, 500 will be transferred into your bank account in 1 week’s time. For every 1 bean that you put in “FUTURE”, an amount greater than ?500 will be transferred into your bank account in 30 days. How much greater depends on the interest rate. ENUMERATOR, LAY THE DISHES ON A FLAT SURFACE AND GIVE THE 12 BEANS TO THE MIDWIFE.
Literal question
Let us consider an interest rate of 100%. I am going to ask you to please split your 12 beans between Dish A (now) and Dish B (future). One bean allocated to dish A corresponds to ?500 paid tomorrow in your bank account. One bean allocated to dish B corresponds to more money: ?1000 paid into your bank account in 30 days.
Would you like to change your allocation of the money (12 beans)?
