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2017 ; 114
(10
): E1766-E1775
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Monkeys choose as if maximizing utility compatible with basic principles of
revealed preference theory
#MMPMID28202727
Pastor-Bernier A
; Plott CR
; Schultz W
Proc Natl Acad Sci U S A
2017[Mar]; 114
(10
): E1766-E1775
PMID28202727
show ga
Revealed preference theory provides axiomatic tools for assessing whether
individuals make observable choices "as if" they are maximizing an underlying
utility function. The theory evokes a tradeoff between goods whereby individuals
improve themselves by trading one good for another good to obtain the best
combination. Preferences revealed in these choices are modeled as curves of equal
choice (indifference curves) and reflect an underlying process of optimization.
These notions have far-reaching applications in consumer choice theory and impact
the welfare of human and animal populations. However, they lack the empirical
implementation in animals that would be required to establish a common biological
basis. In a design using basic features of revealed preference theory, we
measured in rhesus monkeys the frequency of repeated choices between bundles of
two liquids. For various liquids, the animals' choices were compatible with the
notion of giving up a quantity of one good to gain one unit of another good while
maintaining choice indifference, thereby implementing the concept of marginal
rate of substitution. The indifference maps consisted of nonoverlapping, linear,
convex, and occasionally concave curves with typically negative, but also
sometimes positive, slopes depending on bundle composition. Out-of-sample
predictions using homothetic polynomials validated the indifference curves. The
animals' preferences were internally consistent in satisfying transitivity.
Change of option set size demonstrated choice optimality and satisfied the Weak
Axiom of Revealed Preference (WARP). These data are consistent with a version of
revealed preference theory in which preferences are stochastic; the monkeys
behaved "as if" they had well-structured preferences and maximized utility.
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