The swaps index for consumer choice

Mia Lu, Lasse Mononen and Nick Netzer

No 418, ECON - Working Papers from Department of Economics - University of Zurich

Abstract: We extend the swaps index of rationality, introduced by Apesteguia and Ballester (2015) for a finite set of alternatives, to the standard infinite consumer choice setting in which other rationality indices are typically defined. We show that the swaps approach recovers the decision-maker’s true preference from choice data for a class of behavioral models that satisfy a monotonicity condition. We also derive methods to compute the swaps index and swaps preferences for real-world data sets.

Keywords: Measures of rationality; revealed preference; behavioral welfare economics (search for similar items in EconPapers)
JEL-codes: D01 D11 D60 D90 (search for similar items in EconPapers)
Date: 2022-08, Revised 2026-08
New Economics Papers: this item is included in nep-dcm, nep-mic and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:zur:econwp:418

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