The wondrous thing about this design is that if you ask people to rate their confidence level between 1 and 10, most of them would struggle to answer. It’s the unit itself, the knowledge of how much a dollar or an hour means to them, and what it means to lose a certain amount of dollars or time that helps research subjects articulate their feelings. It doesn’t matter that they will not lose what they’ve bet, just imagining this much money or that much time is enough to help people place where their feelings are on a spectrum.
