Chakraborty Anujit, Calford Evan M, Fenig Guidon, Halevy Yoram
Vancouver School of Economics, University of British Columbia, 6000 Iona Drive, Vancouver, BC V6T 1L4 Canada.
Department of Economics, Krannert School of Management, Purdue University, West Lafayette, IN 47907 USA.
Exp Econ. 2017;20(3):687-706. doi: 10.1007/s10683-016-9506-z. Epub 2017 Jan 6.
We evaluate data on choices made from convex time budgets (CTB) in Andreoni and Sprenger (Am Econ Rev 102(7):3333-3356, 2012a) and Augenblick et al. (Q J Econ 130(3):1067-1115, 2015), two influential studies that proposed and applied this experimental technique. We use the weak axiom of revealed preference (WARP) to test for external consistency relative to pairwise choice, and demand, wealth and impatience monotonicity to test for internal consistency. We find that choices made by subjects in the original Andreoni and Sprenger (Am Econ Rev 102(7):3333-3356, 2012a) paper violate WARP frequently; violations of all three internal measures of monotonicity are concentrated in subjects who take advantage of the novel feature of CTB by making interior choices. Wealth monotonicity violations are more prevalent and pronounced than either demand or impatience monotonicity violations. We substantiate the importance of our desiderata of choice consistency in examining effort allocation choices made in Augenblick et al. (Q J Econ 130(3):1067-1115, 2015), where we find considerably more demand monotonicity violations, as well as many classical monotonicity violations which are associated with time inconsistent behavior. We believe that the frequency and magnitude of WARP and monotonicity violations found in the two studies pose important confounds for interpreting and structurally estimating choice patterns elicited through CTB. We encourage researchers employing CTB in present and future experiments to include consistency tests in their design and pre-estimation analysis.
我们评估了安德烈奥尼和施普伦格（《美国经济评论》102(7):3333 - 3356, 2012a）以及奥根布利克等人（《经济学季刊》130(3):1067 - 1115, 2015）这两项有影响力的研究中从凸性时间预算（CTB）做出的选择数据，这两项研究提出并应用了这种实验技术。我们使用显示偏好弱公理（WARP）来检验相对于成对选择的外部一致性，并使用需求、财富和不耐烦单调性来检验内部一致性。我们发现，在安德烈奥尼和施普伦格（《美国经济评论》102(7):3333 - 3356, 2012a）的原始论文中，受试者做出的选择经常违反WARP；所有三种内部单调性度量的违反情况都集中在那些通过做出内部选择利用CTB新特性的受试者身上。财富单调性的违反比需求或不耐烦单调性的违反更为普遍和明显。我们证实了我们对选择一致性要求在检验奥根布利克等人（《经济学季刊》130(3):1067 - 1115, 2015）中做出的努力分配选择时的重要性，在那里我们发现了更多的需求单调性违反情况，以及许多与时间不一致行为相关的经典单调性违反情况。我们认为，在这两项研究中发现的WARP和单调性违反的频率和程度，对于解释和从结构上估计通过CTB引出的选择模式构成了重要的混淆因素。我们鼓励在当前和未来实验中采用CTB的研究人员在其设计和预估计分析中纳入一致性检验。
