 
Summary: SUPPLEMENTARY APPENDIX
(Cook and Rabotyagov, "Water markets...")
August 2011
Risk aversion elicitation
"Now we would like you to imagine that you were choosing between two different games "
GAME A" and "GAME B". For each of the ten rows in the table below, circle the game you
would prefer to play. Take row 3 as an example. If you choose GAME A, you have 70% chance
of winning $40 and a 30% chance of winning $32. If you choose GAME B, you have a 70%
chance of winning $77 and a 30% chance of winning $20. Would you prefer GAME A or GAME
B?
GAME A PREFER
(circle)
GAME B
1 90% chance of
winning $40
10% chance of
winning $32
A or B ? 90% chance of
winning $77
10% chance of
