and the potential increments over it are evaluated by subjective expected utility with a risky utility function u. In … contrast to earlier approaches with models that aimed at separating riskless and risky utility, CT does not violate basic … irregularities like the expected utility paradoxes of Allais and Rabin, CT also separates risk attitude in the strong sense from …

allow utility values to be derived at the individual level also. The DCE presented respondents with eight pairwise risky … choices to estimate aggregate utility values for three EQ-5D health states, ranging from mild to severe. The design allowed … the elicitation of utility values for worse-than-dead states. Risk was represented using the stimulus used by EuroVaQ …