A new interpretation and derivation of the Swaps index

Sam Cosaert and Khushboo Surana

Economics Letters, 2023, vol. 226, issue C

Abstract: The Swaps index (Apesteguia and Ballester, 2015) is a popular measure of rationality in the revealed preference literature. In this note, we show a connection between the Swaps index and the Kemeny rule, a well-known method of preference aggregation in social choice theory. Our new interpretation of the Swaps index makes it a suitable measure of menu dependence in preferences.

Keywords: Swaps index; Kemeny rule; Preference heterogeneity; Revealed preference (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:226:y:2023:i:c:s0165176523001349

DOI: 10.1016/j.econlet.2023.111109

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