This article assesses how the form of the utility function in discrete-choice experiments (DCEs) affects estimates of … willingness-to-pay (WTP). The utility function is usually assumed to be linear in its attributes. Non-linearities, in the guise of … linear utility function can be a risky choice in DCEs. For this purpose, a DCE conducted in Switzerland to assess preferences …

nonexpected utility functions to more general settings. In particular, our theory applies to state dependent utilities, as well as …"We propose a notion of smoothness of nonexpected utility functions, which extends the variational analysis of … the multiple prior expected utility model, both of which are not possible in previous literatures. Other nonexpected …

symmetry if the latter is generated by a field. Moreover, solving the PDEs yields the functional form for utility equivalent to …, multivariate separability, and homogeneity, including the cases of Cobb-Douglas and CES utility. …