The money pump as a measure of revealed preference violations: : A comment.

• Autores: Bart Smeulders, Laurens Cherchye, Bram De Rock, Frits C.R. Spieksma
• Localización: Journal of Political Economy, ISSN-e 1537-534X, Vol. 121, Nº. 6, 2013, págs. 1248-1258
• Idioma: inglés
• DOI: 10.1086/674077
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• Resumen

  • The article presents the authors' opinions regarding a study entitled "The Money Pump as a Measure of Revealed Preference Violations" by Echenique, Lee, and Shum from a previous issue. Topics include the money pump index (MPI) based on the axioms of choice for rational consumer behavior, standard revealed preference tests, and the generalized axiom of revealed preference.