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Measuring rationality: percentages vs expenditures
Theory and Decision ( IF 0.9 ) Pub Date : 2021-01-02 , DOI: 10.1007/s11238-020-09791-z
Roy Allen , John Rehbeck

Individual choices are often inconsistent with economic theories, which has motivated a variety of ways to measure how far choices are from a given theory. Recent work has investigated the correlation between “measures of rationality” and observable information such as education or income. This paper investigates the sensitivity of this analysis to the units used to measure rationality, in particular we examine measures in percentage expenditure vs dollars expenditure. We find that correlations can change sign when we change the units, but this sensitivity might be mitigated with experimental methods.



中文翻译:

衡量合理性:百分比与支出

个体选择通常与经济理论不一致,后者激发了多种方法来衡量选择与给定理论之间的距离。最近的工作调查了“合理性度量”与可观测信息(如教育或收入)之间的相关性。本文研究了这种分析对用来衡量合理性的单位的敏感性,特别是我们考察了百分比支出与美元支出的关系。我们发现,当我们更改单位时,相关性可以更改符号,但是可以通过实验方法来减轻这种敏感性。

更新日期:2021-01-04
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