范里安微观经济学英文版

Cost Minimizing Input Choice
How does a firm select inputs to produce a given output at minimum cost? Assumptions

◦ Two Inputs: Labor (L) and capital (K) ◦ Price of labor: wage rate (w) ◦ The price of capital (r)
In the short run, some costs are fixed In the long run, firm can change anything including plant size

◦ Can produce at a lower average cost in long run than in short run ◦ Capital and labor are both flexible
input added to the production process will add an equivalent amount of output.
MPL
MPK
Cost in the Long Run

Cost minimization with Varying Output Levels
Q1
C2
Labor per year
Input Substitution When an Input Price Change
If the price of labor changes, then the slope of the isocost line changes, -(w/r) It now takes a new quantity of labor and capital to produce the output If price of labor increases relative to price of capital, and capital is substituted for labor

– 谁将得到住房？ – 各种类型的市场机制将提供多少住房？ – 垄断市场供应的住房比竞争市场供应的是多 还是少? – 房租管制是增加还是减少了住房的均衡数量? – 哪一种经济机制将提供帕雷托有效的住房数 量?
小节（知识点）
• 经济学是通过对社会现象建立模型进行研究的， 这种模型能对现实社会作简化的描述。 • 在经济分析过程中，经济学家以最优化原理和 均衡原理为指导。最优化原理指的是人们总是 试图选择对他们最有利的东西；均衡原理是指 在给定其他参与者的选择下，每一个参与者的 选择都是最优的。 • 需求曲线衡量在不同价格上人们愿意购买的需 求量，供给曲线衡量不同价格时人们愿意供应 的供给量。均衡价格是需求量与供给量相等的 价格。 • 研究均衡价格和数量在基础条件变化时如何变
• 在评估一个经济机制或制度安排时，现代经济 学通常所采用的一个最重要的评估标准是看这
激励相容
• 所谓激励相容就是使自利的个人和人们之间的互利 统一起来，使得每人在追求其个人利益时，同时也 达到了其制度安排设计者所想要达到的目标。 • 检验一个经济机制或规则是否运行良好的一个基本 标准是看它能否提供内在激励使人们努力工作，激 励决策者作出有利于他主管的经济组织的好决策， 激励企业尽可能有效率地生产。
比较静态分析
• 假设外城区住房的价格提高 –内城区住房需求增加
p 高的市场需求导致高的均衡价格 ，相同的均衡数量。 课后自己还可做大量的其他比较 静态分析如：内城区住房增加、 需求者收入增加、以及政府征税 等等来研究内城区住房价格和住 户数量的变化。
Pe* pe s
QD,QS
1.7 配置住房的其他方法 —不完全竞争市场情况
–对经济现象建立模型
经济环境
• 经济环境通常由经济人、经济人的特征、经济社 会制度环境以及信息结构等组成。 – 1）参与人数量巨大（无穷大是一种考虑），并 且哪一参与人都不占有明显优势，即单个参与 人的行为客观上不会影响其他任何参与人的行 为，从而不会影响整体行为。 – 2）参与人唯一，该参与人的任何行为都等于整 体行为。 – 3）参与人数量有限而不唯一（介于1与无穷大 之间），单个参与人的行为不等于整体行为， 但能影响其他参与人的行为，从而会影响整体 行为。

-p1/p2
+1
x1
Budget Constraints
x2 Opp. cost of an extra unit of commodity 1 is p1/p2 units foregone of commodity 2. Opp. cost of an extra +1 unit of commodity 2 is -p2/p1 p2/p1 units foregone of commodity 1. x1
Chapter 3
Consumer Behavior
Consumer Behavior
1.
There are three steps involved in the study of consumer behavior Consumer Preferences
◦ To describe how and why people prefer one good to another

Budget Constraints
Commodity prices are p1, p2, … , pn. Q: When is a bundle (x1, … , xn) affordable at prices p1, … , pn? A: When p1x1 + … + pnxn m where m is the consumer‟s (disposable) income.
2.
Budget Constraints
◦ People have limited incomes
Consumer Behavior
3.
Given preferences and limited incomes, what amount and type of goods will be purchased?

The circular flow of economic activities.
product market market
factor
The product market and the factor market.
The market relation is mutual and voluntary.
•Fig.
Convexity x2
(y1,y2)
Averaged bundle
(x1,x2) x1
Chapter 4
(as a way to describe preferences)
Utilities
•Essential ordinal utilities, versus
•convenient cardinal utility functions.
m/p2
Budget line
Slope
= - p’1/p2
m/p’1
Slope = - p1/p2 m/p1
Taxes, quantity taxes, value taxes
(ad valorem taxes), and lump-sum
taxAess. ubsidy
is the opposite of a quantity tax.
commodities,
including
goods and services.
Main economic activities:
Consumption, Production, and Exchange.
Microeconomics and macroeconomics:
to show the market mechanism (the invisible hand), to supplement it.

Chapter 11
Oligopoly
Oligopoly
A monopoly is an industry consisting a single firm. An oligopoly is an industry consisting of a few firms. Particularly, each firm’s own price or output decisions affect its competitors’ profits.
75
Firm 2’s Reaction Curve Q*2(Q1) Firm 2’s reaction curve shows how much it will produce as a function of how much it thinks Firm 1 will produce.
50 x
25
F .O.C y1 f1 ( y )
e 2
Sim ilarly , y2 f 2 ( y )
e 1
Reaction Function

Reaction function
◦ It gives one firm’s optimal choice as a function of its beliefs about the other firm’s choice ◦ The relationship between a firm’s profitmaximizing output and the amount it thinks its competitor will produce ◦ A firm’s profit-maximizing output is a decreasing schedule of the expected output of the other firm

MC(y) AC(y)
Y
y3*
y
长期行业供给
行业 p
行业需求
p3’
一个典型厂商 p
S3(p) S4(p)
p3’
MC(y) AC(y)
Y
y3*
y
第四个厂商现在进入的经济利润为负。
长期行业供给
行业 p 行业需求
一个典型厂商 p
MC(y) AC(y)
S3(p)
p3’
S4(p) p3’
Y
y3*
y
第四个厂商现在进入的经济利润为零。
行业 p
行业需求
S2(p)
一个典型的厂商 p
MC(y) AC(y)
p2
p2
P>0
Y
y2*
y
每个厂商都获得正的经济利润，
吸引其它厂商进入。
长期行业供给
行业 p
行业需求
p2
S2(p) S3(p)
一个典型厂商 p
MC(y) AC(y)
p2
Y
行业供给向外移动
y2*
y
长期行业供给
行业 p
行业需求
p2
S2(p) S3(p)
为将获得负的经济利润。
y2*
y
长期行业供给
假设行业需求继续上升，行业价格也继 续上升，两个厂商都生产更多且获得更 多的经济利润—知道第三个厂商对于进 入行业与不进入行业都一样。
长期行业供给
行业 p
行业需求
S2(p) S3(p)
一个典型厂商 p
MC(y) AC(y)
p2”
p2”
Y
y2*
y
长期行业供给
一个典型厂商 p
MC(y) AC(y)

Then p = $490 QD = 2.
Modeling Apartment Demand
The lower is the rental rate p, the larger is the quantity of close apartments demanded
p QD .
The quantity demanded vs. price graph is the market demand curve for close apartments.
Modeling the Apartment Market
How are apartment rents determined? Suppose
apartments are close or distant, but otherwise identical
distant apartments rents are exogenous and known
Market Supply Curve for Apartments
p
100
QS
Competitive Market Equilibrium
“low” rental price quantity demanded of close apartments exceeds quantity available price will rise.
--- John Maynard Keynes
Economic Modeling
What causes what in economic systems?
At what level of detail shall we model an economic phenomenon?

Chapter 16 均衡
A market clears or is in equilibrium when the total quantity demanded by buyers exactly equals the total quantity supplied by sellers.
一、对均衡的理解
p
MarkMetarket MEaqrkueitlqibuarinutimty supplied is
demand
fixed, independent of price.
S(p) = c+dp, so d=0
and S(p) c.
p*
q* = c
D-1(q) = (a-q)/b q
p
MarkMetarket MEaqrkueitlqibuarinutimty supplied is
supply
q=S(p)
D(p’) < S(p’); an excess
p’
of quantity supplied over
p*
quantity demanded.
q=D(p)
D(p’)
S(p’) D(p), S(p)
Market price must fall towards p*.
p
MarkMetarket MEaqrkueitlibrium
The division of the $t between buyers and sellers is called the incidence （( 税的)负担）of the tax.
p
Market demand
Market supply
Tax paid by

A Competitive Firm – Losses
Price
C D B MC
ATC
A
P = MR AVC
q*
Output
Short Run Production

Why would a firm produce at a loss?
◦ Might think price will increase in near future ◦ Shutting down and starting up could be costly
A
P = MR AVC
F
E
q*
Output
Competitive Firm – Short Run Supply
Supply curve tells how much output will be produced at different prices Competitive firms determine quantity to produce where P = MC

Profit Maximization – Short Run
Cost, Revenue, Profit ($s per year) Profits are maximized where MR (slope at A) and MC (slope at B) are equal
C(q)
R(q)

Choosing Output: Short Run

The point where MR = MC, the profit maximizing output is chosen
◦ MR = MC at quantity, q*, of 8 ◦ At a quantity less than 8, MR > MC, so more profit can be gained by increasing output ◦ At a quantity greater than 8, MC > MR, increasing output will decrease profits

Income and Substitution Effects

Income Effect
◦ The income effect is the change in an item’s consumption brought about by the increase in purchasing power, with the price of the item held constant ◦ When a person’s income increases, the quantity demanded for the product may increase or decrease
So
* dR dX X* (p) p dp dp
Revenue and Own-Price Elasticity of Demand
Sellers’ revenue is
R(p) p X* (p).
So
* dR dX X* (p) p dp dp
dx x dp x p x
u u
_
x I I p x
Another Way of Decomposing Price Effect
Hicksian substitution effect: holding the utility constant Slutsky substitution effect: holding the purchasing power constant

Revenue and Own-Price Elasticity of Demand
Sellers’ revenue is
R(p) p X* (p).
Revenue and Own-Price Elasticity of Demand

◦
Monopoly
P > MC Price is larger than MC by an amount that depends inversely on the elasticity of demand
◦
Perfect Competition
P = MC Demand is perfectly elastic, so P=MC
Observations
1. To increase sales the price must fall 2. MR < P 3. Compared to perfect competition
No change in price to change sales MR = P
Chapter 10
Chapter 10
14
A Rule of Thumb for Pricing
R ( PQ) 1. MR Q Q
Producing one more unit brings in revenue (1)(P) = P With downward sloping demand, producing and selling one more unit results in small drop in price P/Q

◦
There is no supply curve for monopolistic market
Chapter 10
22
Shifts in Demand
$/Q
MC
Shift in demand leads to change in quantity but same price D2
P1 = P2

Q: When is a bundle (x1, … , xn) affordable at prices p1, … , pn?
A: When p1x1 + … + pnxn m
where m is the consumer’s (disposable) income.
Budget Constraints
The bundles that are only just affordable form the consumer’s budget constraint. This is the set
{ (x1,…,xn) | x1 0, …, xn and p1x1 + … + pnxn = m }.
Affordable
m /p1
x1
Budget Set and Constraint for
Two Commodities
x
2
m /p2
Budget constraint is p1x1 + p2x2 = m.
the collection
of all affordable bundles.
Budget
The budget constraint is the upper boundary of the budget set.
Budget Set and Constraint for
Two Commodities
x
2
m /p2
Budget constraint is p1x1 + p2x2 = m.
If n = 3 what do the budget constraint and the budget set look like?

区别（1）是非以一定的价值判断为依据， 是实证经济学与规范经济学的重要区别之一 。
（2）实证经济学与规范经济学要解决的问 题不同。
（3）实证经济学的内容具有客观性，所得 出的结论可以根据事实来进行检验。规范经 济学本身则没有客观性，它所得出的结论要 受到不同价值观的影响。
联系：规范经济学要以实证经济学为基础， 而实证经济学也离不开规范经济学的指导。
A.修一个机场，每年收益9000万元；
B.修建大型娱乐中心，每年收益9500万 元；
C.建大型商国外，每年利息为9100万元。
3．阿扁邀请老李参加他的就职典礼，老李接 受了邀请。下面哪一项是老李参加阿扁就职典 礼的机会成本：
（1）老李给阿扁买了价值100元的花篮；
它要回答“ 是什么” 的问题。
实证经济学通常采用模型法。验证理论是否 正确的标准，只能是经验事实。
2．规范经济学
规范经济学以一定的价值判断为基础，提出 某些标准作为分析处理经济问题的标准，树 立经济理论的前提，作为制定经济政策的依 据，并研究如何才能符合这些标准。
它要回答“ 应该是什么”的问题。
3．两者的关系
（2）老李在一周前理发花了10元；
（3）老李在前往阿扁公司的途中吃午餐用了 20元；
（4）为了参加典礼老李放弃了听一次哲学讲 座。
A.（1）； B.（1）和（2）； C.（1）和（4）； D.都是。
7．生产可能性边界（生产可能性曲线）
在既定的经济资源和生产技术条件下所能达到 的最大产量组合的轨迹。
• （1）土地，又称自然资源 • （2）劳动 • （3）资本，也称资本货物（或资本品） • （4）企业家才能
四种经济资源又被称为“ 生产四要素”。
产出就是产品和劳务。

市场均衡
p 市场需求 市场供给 q=S(p) p’ p* q=D(p) D(p’) S(p’) D(p), S(p) D(p’) < S(p’); 供给量大于 需求量
市场价格会下降至p*
市场均衡
p 市场需求 市场供给 q=S(p) D(p”) > S(p”); 需求量大于 供给量 p* p” S(p”) D(p”) q=D(p) D(p), S(p)
无谓损失与自身价格弹性市场需求市场供给无税无谓损失与自身价格弹性市场需求市场供给无税cs无谓损失与自身价格弹性市场需求市场供给无税ps无谓损失与自身价格弹性市场需求市场供给无税csps无谓损失与自身价格弹性市场需求市场供给无税csps无谓损失与自身价格弹性市场需求市场供给csps税收减少了生产者剩余和消费者剩余无谓损失与自身价格弹性市场需求市场供给csps税收减少了生产者剩余和消费者剩余将剩余转移给了政府
市场均衡
D(p) a bp S(p) c dp
在市场均衡价格p*条件下, D(p*) = S(p*). 也即, a bp* c dp* * ac 则有 p bd 且
ad bc q D(p ) S(p ) . bd
* * *
市场均衡
p 市场需求 市场供给 S(p) = c+dp
p D
* 1
(q ) S
*
1
ac (q ) . bd
*
市场均衡
D-1(q), 市场需求 S-1(q)
市场供给 S-1(q) = (-c+q)/d
p ac bd
D-1(q) = (a-q)/b
*
ad bc q bd
*
q
市场均衡

Dominant Strategies

Dominant Strategy is one that is optimal no matter what an opponent does
◦ An Example
A and B sell competing products They are deciding whether to undertake advertising campaigns

◦ A set of strategies (or actions) such that each player is doing the best it can given the actions of its opponents
The Nash Equilibrium Revisited

None of the players have incentive to deviate from its Nash strategy, therefore it is stable
◦ Ex: firms competing with each other by setting prices, group of consumers bidding against each other in an auction

Strategic decisions result in payoffs to the players: outcomes that generate rewards or benefits

Dominant strategy is a special case of Nash equilibrium
The Nash Equilibrium Revisited

范里安微观经济学现代观点英文版In the realm of economic literature, Hal Varian's "Microeconomic Analysis" stands as a seminal work, offering a contemporary perspective on the intricate nuances of microeconomics. The English edition, particularly, serves as a comprehensive guide for students and scholars alike, providing insights into the fundamental principles and applications of microeconomic theory.The book's strength lies in its ability to strike a balance between theoretical rigor and practical relevance. Varian masterfully integrates complex economic concepts with real-world examples, making them accessible and engaging for a wide audience. The narrative flows smoothly, guiding the reader through the intricacies of consumer behavior, producer theory, market structures, and beyond. One noteworthy aspect of the book is its emphasis on the use of mathematics in microeconomic analysis. Varian argues that while mathematics can be a powerful tool for understanding economic phenomena, it should not be the sole focus. Instead, he advocates for a holistic approach that combines mathematical analysis with intuitive explanationsand empirical evidence. This approach ensures that the reader not only understands the theory but also appreciates its practical implications.Another noteworthy feature is the book's coverage of recent developments in microeconomics. Varian keeps the content updated, incorporating the latest research and theories in the field. This ensures that the reader gains insights into the evolving nature of microeconomics and its relevance in today's world.The book's language is clear and concise, making it easy to follow even for those new to the subject. Varian's writing style is engaging and informative, often using anecdotes and examples to illustrate complex economic concepts. This approach makes the material more accessible and enjoyable to read.However, it is worth noting that the book's focus on contemporary microeconomics may make it less suitable for those interested in a more historical or classical approach to the subject. Additionally, while the use of mathematics enhances the analysis, it may also pose a challenge for those with limited mathematical background.Overall, Hal Varian's "Microeconomic Analysis" English edition is an indispensable resource for anyone interestedin understanding the modern perspective of microeconomics. Its comprehensive coverage, engaging writing style, and emphasis on practical relevance make it a must-read for students, scholars, and practitioners alike.**范里安《微观经济学现代观点》英文版深度解析** 在经济学文献领域，哈尔·范里安的《微观经济学分析》堪称一部经典之作，它以现代视角深入剖析了微观经济学的微妙之处。

本章要点
1. 2. 3. 4. 两个原理：最优化原理，均衡原理 需求曲线，供给曲线，市场均衡 比较静态学 资源配置的方法和评估标准：完全竞争， 不完全竞争，包括垄断（差别垄断、一般 垄断）、管制；帕累托效率
Copyright @2011 All right reserved
3
Harbin Engineering University
Copyright @2011 All right reserved
7
Harbin Engineering University
Economic Modeling 经济模型
• What causes what in economic systems?(在经 济系统中，什么导致了什么？——经济模型 中的变量）
15
Harbin Engineering University
Modeling Individual Demand (个体需求模型）
• 关于个体需求的一些假定： • Discrete commodity: 0 or 1 unit离散商品: 0 或 1 单位 • Choose either distant or close apartment消费者要么选择“近 处的”要么选择“远处的” • Close apartments are more desirable but more expensive近处 的住房更受欢迎，但价格更高一些 • Tend to choose close apartment if倾向于选择近处的住房，如 果: – Distant apartments are also expensive.远处住房的价格也 高 – Higher income.有较高的收入 • Decide: The maximum rent you are willing to pay for a close apartment.决定:你愿意为近处住房支付的最高价格