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A new interpretation and derivation of the Swaps index

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  • Cosaert, Sam
  • Surana, Khushboo

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.

Suggested Citation

  • Cosaert, Sam & Surana, Khushboo, 2023. "A new interpretation and derivation of the Swaps index," Economics Letters, Elsevier, vol. 226(C).
    • Handle: RePEc:eee:ecolet:v:226:y:2023:i:c:s0165176523001349
    DOI: 10.1016/j.econlet.2023.111109
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    References listed on IDEAS

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    1. Cosaert, Sam & Lefebvre, Mathieu & Martin, Ludivine, 2022. "Are preferences for work reference dependent or time nonseparable? New experimental evidence," European Economic Review, Elsevier, vol. 148(C).
    2. Gil Kalai & Ariel Rubinstein & Ran Spiegler, 2002. "Rationalizing Choice Functions By Multiple Rationales," Econometrica, Econometric Society, vol. 70(6), pages 2481-2488, November.
    3. Jose Apesteguia & Miguel A. Ballester, 2015. "A Measure of Rationality and Welfare," Journal of Political Economy, University of Chicago Press, vol. 123(6), pages 1278-1310.
    4. Baldiga, Katherine A. & Green, Jerry R., 2011. "Assent-maximizing social choice," Scholarly Articles 33927874, Harvard University Department of Economics.
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