The effects of probability transformation on the elicitation of utilities under risk and under certainty are investigated. It has been observed in experiments with results counter to Expected Utility Theory (EUT) that the utility function is dependent on the method used for its elicitation. The problem resides in that assessment methods generally used do not take into account such transformation. The relationship between riskless and risky utilities is also investigated. Riskless utilities have been regarded as a different concept than risky ones. An experiment where choice-based utilities...