A caveat for the application of the critical cost efficiency index in induced budget experiments
研究发现Afriat的临界成本效率指数在某些条件下会将违反显示偏好公理的行为误判为理性选择,且这种误判在多数实验中占主导,建议调整实验设计以减少该问题。
Abstract Afriat’s (Int Econ Rev 14(2): 460–472, 1973) critical cost efficiency index is often used to measure the extent to which experimental choice data violate the axioms of revealed preference. Under certain conditions, the index yields a value of one—which typically signifies rational choice—when, in fact, the choice violates the axioms. We term this a cost efficient violation (CEV) of the axioms, clarify the conditions under which it arises, and find that CEVs comprise the majority of violations in three of four studies reviewed. We suggest changes in experiment design to eliminate or reduce the likelihood of CEVs.