The Money Pump as a Measure of Revealed Preference Violations
提出金钱泵指数（MPI）来度量显示性偏好公理违反的严重程度，该指数可提取违反公理的消费者的金钱，并作为存在观测误差时消费者理性假设的统计检验。应用食品支出面板数据发现，多数违反的MPI较小，无法拒绝消费者理性假设。
We introduce a measure of the severity of violations of the revealed preference axioms, the money pump index (MPI). The MPI is the amount of money one can extract from a consumer who violates the axioms. It is also a statistical test for the hypothesis that a consumer is rational when behavior is observed with error. We present an application using a panel data set of food expenditures. The data exhibit many violations of the axioms. Mostly, the MPI for these violations is small. The MPI indicates that the hypothesis of consumer rationality cannot be rejected.