Fig. 3

Mean of market outcomes – funders’ benefits and payoffs from round 1 to 5 per price group (means for successful pairs). Total benefit for redistribution by players in all rounds equals 2.4$ (1.2$ premiums from each payer). Total assets equal of funders equal benefit of 2.4$ (premiums unused for payers and price income for investors) plus initial assets of 4.8$ (1.2$ for each of the payers and investors). Total assets were divided by ten for final payoff after experiment