中级微观经济学 课件
- 格式:pdf
- 大小:680.12 KB
- 文档页数:18
Part 2 CHOICE AND DEMAND •CH 3 PERFERENCE AND UTILITY
•CH 4 UTILITY MAXIMIZATION AND CHONICE •CH 5 INCOME AND SUBSTITUTION EFFECTS •CH 6 DEMAND RELATIONSHIPS AMOND GOOGS
Chapter 3
PREFERENCES AND UTILITY
Lee, Junqing
Department of Economics , Nankai Defination: If u 1>u 2, then f(u 1)>f(u 2)
Monotonic Transformation of the Utility
Lee, Junqing Department of Economics , Nankai University Utility and preference
Lee, Junqing Department of Economics , Nankai
SQC EQC QC
Lee, Junqing
Department of Economics , Nankai University
Utility Functions & Indiff. Curves
U ≡6U ≡4
(2,3)
(2,2)∼(4,1)
x 1
x 2
≺
Lee, Junqing
Department of Economics , Nankai University
U(2,3) = 6U(2,2) = 4 U(4,1) = 4
x 1
x 2
x 2
U ≡4
U ≡6Utility
x 2
x 1
Lee, Junqing
Department of Economics , Nankai University
Lee, Junqing
Department of Economics , Nankai University
x
1x 2
Utility Functions & Indiff. Curves
Lee, Junqing
Department of Economics , Nankai University
x
1x 2
Lee, Junqing
Department of Economics , Nankai University
x
1x 2
Lee, Junqing
Department of Economics , Nankai University
x
1x 2
Utility Functions & Indiff. Curves Lee, Junqing
Department of Economics , Nankai University
x
1x 2
Utility Functions & Indiff. Curves
Lee, Junqing
Department of Economics , Nankai University
x
1x 2
Utility Functions & Indiff. Curves Lee, Junqing
Department of Economics , Nankai University
x
1Utility Functions & Indiff. Curves
Lee, Junqing
Department of Economics , Nankai University
x
1Lee, Junqing
Department of Economics , Nankai University
x
1Lee, Junqing
Department of Economics , Nankai University
x
1Utility Functions & Indiff. Curves Lee, Junqing
Department of Economics , Nankai University
x
1Utility Functions & Indiff. Curves
Lee, Junqing
Department of Economics , Nankai University
x 1Utility Functions & Indiff. Curves Lee, Junqing
Department of Economics , Nankai University
x
1Utility Functions & Indiff. Curves
Lee, Junqing
Department of Economics , Nankai University
x
1Lee, Junqing
Department of Economics , Nankai University
x
1Lee, Junqing
Department of Economics , Nankai University
x
1Utility Functions & Indiff. Curves
The Characteristic of the Indifference Curve
Quantity of y
Increasing utility
The Characteristic of the Indifference Curve z
An indifference curve above and to the right of
another represents preferred combination of
Lee, Junqing Department of Economics , Nankai University
Lee, Junqing
Department of Economics , Nankai University
Convexity of Indifference Curves
utility x y =+y x ⋅= utility U (x ,y ) = x + xy + y
x
2
Lee, Junqing Department of Economics , Nankai University
Lee, Junqing
Department of Economics , Nankai University
δ=1δ=0.5δ=0δ=-1δ=-50
δ=1
Lee, Junqing
Department of Economics , Nankai University
CES Utility Functions δ=0.5
δ=0
δ=-1
δ=-50
Lee, Junqing Department of Economics , Nankai University
Homothetic Preferences
z If the MRS depends only on the ratio of the
amounts of the two goods, not on the
quantities of the goods, the utility function
is homothetic
z Perfect substitutes ⇒MRS is the same at
every point
z Perfect complements ⇒MRS= ∞if y/x> α/β,
undefined if y/x= α/β, and MRS= 0 if y/x< α/β
Lee, Junqing Department of Economics , Nankai University Lee, Junqing Department of Economics , Nankai University Lee, Junqing Department of Economics , Nankai University。