猴子實驗經濟學 - 經濟

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http://www.som.yale.edu/faculty/keith.chen/papers/Final_JPE06.pdf

this paper motivated one interesting question in

Ariel Rubinstein's midterm exam...

(If you have such question in the exam, there will be no fun at all XD)
(However, the solution is pretty simple...)

In an experiment a monkey is given m coins.
The monkey faces m consecutive choices.
In each instance he gives one coin to either one of
two experimenters, one who is
holding a apples and one who is holding b bananas.

(1) Assume that the experiment is repeated
with different values of a and b and that every
time the monkey trades the first 4 coins for apples
and then trades the next 8 coins for bananas.
The experimenter claims that the monkey’s choices confirm consumer theory.

Show that the above monkey’s behavior is
indeed consistent with the classical assumptions
of consumer behavior (namely, that his behavior can
be explained as the maximization of a
montonic, continuous, convex preference relation on the space of bundles).


(2) Assume that later it was observed that when the monkey holds
an arbitrary number m
of coins, then independent of a and b, he exchanges
first 4 coins for apples and then exchanges
the remaining m - 4 coins for bananas.
Is this behavior consistent with the consumer model?



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