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  5. A Measure of Behavioral Heterogeneity

American Economic Journal:
Microeconomics

ISSN 1945-7669 (Print) | ISSN 1945-7685 (Online)

A Measure of Behavioral Heterogeneity

  • Jose Apesteguia
  • Miguel A. Ballester
American Economic Journal: Microeconomics (Forthcoming)

Abstract

In this paper we propose a novel way to measure behavioral heterogeneity in a population of stochastic individuals. Our measure is choice-based; it evaluates the probability that, over a randomly selected menu, the sampled choices of two sampled individuals differ. We provide axiomatic foundations for this measure and a decomposition result that separates heterogeneity into its intra- and inter-personal components.

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