A New Interpretation and Derivation of the Swaps Index

The Swaps index (Apesteguia and Ballester, 2015) is a popular measure of rationality in the revealed preference literature. In this note, we show a connection between the Swaps index and the Kemeny rule, a well-known method of preference aggregation in social choice theory. Our new interpretation of the Swaps index makes it a suitable measure of menu dependence in preferences. (c) 2023 The Author(s). Published by Elsevier B.V. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).