WORKING PAPERS Who Is ( More ) Rational ?

@inproceedings{Choi2011WORKINGPW,
  title={WORKING PAPERS Who Is ( More ) Rational ?},
  author={Syngjoo Choi and Shachar Kariv and Wieland M{\"u}ller and Dan Silverman},
  year={2011}
}
Revealed preference theory o¤ers a criterion for decision-making quality: if decisions are high quality then there exists a utility function that the choices maximize. We conduct a large-scale …eld experiment that enables us to test subjects’choices for consistency with utility maximization and to combine the experimental data with a wide range of individual socioeconomic information for the subjects. There is considerable heterogeneity in subjects’consistency scores: high-income and high… CONTINUE READING

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