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How General Are Measures of Choice Consistency? Evidence from Experimental and Scanner Data

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  • Mingshi Chen
  • Tracy Xiao Liu
  • You Shan
  • Shu Wang
  • Songfa Zhong
  • Yanju Zhou

Abstract

Choice consistency with utility maximization is a fundamental assumption in economic analysis and is extensively measured across various contexts. Here we investigate the generalizability of consistency measures derived from purchasing decisions using supermarket scanner data and budgetary decisions from lab-in-the-field experiments. We observe a lack of correlation between consistency scores from supermarket purchasing decisions and those from risky decisions in the experiment. However, we observe moderate correlations among experimental tasks and low to moderate correlations across purchasing categories and time periods within the supermarket. These results suggest that choice consistency may be characterized as a multidimensional skill set.

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  • Mingshi Chen & Tracy Xiao Liu & You Shan & Shu Wang & Songfa Zhong & Yanju Zhou, 2025. "How General Are Measures of Choice Consistency? Evidence from Experimental and Scanner Data," Papers 2505.05275, arXiv.org.
    • Handle: RePEc:arx:papers:2505.05275
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