Testing rationality without restricting heterogeneity
不限制异质性的理性检验
I derive a necessary condition for stochastic rationalizability using a set of utility functions with a unique maximizer, which I name the strong axiom of revealed stochastic preference (SARSP). I also provide a constructive characterization of rationalizability in a regular finite linear budget setting and discuss the (in)sufficiency of SARSP. I propose a test of rationality based on the SARSP. Monte Carlo simulation and an application to data from the British Family…