Publication: Computing and comparing measures of rationality
Computing and comparing measures of rationality
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Mononen, L. (2023). Computing and comparing measures of rationality (No. 437; Working Paper Series / Department of Economics).
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The rationality of choices is one of the most fundamental assumptions of traditional economic analysis. Yet, substantial evidence has documented that choices often cannot be rationalized by utility maximization. Several measures of rationality have been introduced in the literature to quantify the size of rationality violations. However, it is not clear which of these measures should be used in applications, and many measures are computationally very demanding, which has restricted their widespread use. First, we introduce novel varia
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Mononen, L. (2023). Computing and comparing measures of rationality (No. 437; Working Paper Series / Department of Economics).
