The Consistency of Rationality Measures
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While rationality has been commonly assumed and measured in various settings, an unexplored question arises regarding the extent to which individuals with high rationality scores in one setting would exhibit high scores in another setting. This study investigate the consistency of rationality measures using revealed preference techniques. We combine budgetary decisions in the lab and food decisions in the field based on scanner data to measure the rationality of individual consumers in a large grocery store. We show that the rationality score for risky or social decisions in the lab is uncorrelated with that of food decisions in the field. By contrast, the rationality score is highly correlated between risky and social decisions in the lab, as well as between food decisions in the lab and in the field. We further show that behavioral factors including purchasing experience, personality traits and cognitive skills may underlie rationality scores across different environments.
刘潇，清华大学经管学院长聘副教授，2006年本科毕业于中国人民大学， 2012年博士毕业于美国密歇根大学。研究方向为实验经济学、行为经济学、市场设计和信息经济学。目前担任三本国际期刊Management Science，Journal of Economic Behavior & Organization，Journal of Behavioral and Experimental Economics的Associate Editor。文章发表在Management Science、Games and Economic Behavior、Journal of Development Economics等期刊。