The experiment consists of a number of periods. At the beginning of a period, you will be given a fresh supply of securities and cash. You can trade the securities in markets, if you wish. Markets remain open for a fixed time span. Your earnings depend on your final holdings of securities and cash after markets close. The payouts (dividends) on the securities depend on the random drawing from a urn. Drawing takes place at the beginning of a period, but is not revealed to anyone.

This experiment involves risk. The risks are not large, but they are real. Please read the instructions carefully to assess the extents of the risk. Do not participate if you think the risks are too high.

• For detailed information on the experiment and help with trading, click on the link Instructions to the left.
• Latest news is announced in the link News to the left.
• To participate in the Practice Session (see the News page to know when you can do so), click on the link Participate In Practice Session to the left. You will be sent to the jMarkets Experiment Site where you can sign up. You will be asked for your email, your name, a phone number, and a password. If you do not have a password for this experiment yet, create your own (and remember it!). Choose a password with 6 to 12 alphanumeric characters and type it in. The server will tell you whether your password is valid. If so, it will provide you with a link to participate in the experiment. If you click on that link, you'll connect to the markets interface jMarkets. Choose AASession1. After connection is established, you may not immediately see the markets - that only happens when everybody has connected and the experiment starts. Please be patient. If you get disconnected, you will be able to re-connect (only) after markets have started, so do not worry.
• To participate in the Main Session (see the News page to know when you can do so), click on the Participate In Main Session to the left. Use your email and the password you used for the practice session to connect to jMarkets. Now choose AASession2.
• To ask us questions, click on the email link Contact.