消费者偏好与选择课件.ppt

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1、chapter:11>>Krugman/WellsEconomics©2009WorthPublishersConsumerPreferencesandConsumerChoiceWhyeconomistsuseindifferencecurvestoillustrateaperson’spreferencesTheimportanceofthemarginalrateofsubstitution,therateatwhichaconsumerisjustwillingtosubstituteoneg

2、oodforanotherAnalternativewayoffindingaconsumer’soptimalconsumptionbundleusingindifferencecurvesandthebudgetlineHowtheshapeofindifferencecurveshelpsdeterminewhethergoodsaresubstitutesorcomplementsAnin-depthunderstandingofincomeandsubstitutioneffectsMappi

3、ngtheUtilityFunctionAutilityfunctiondeterminesaconsumer’stotalutilitygivenhisorherconsumptionbundle.Usingindifferencecurves,whichrepresentaconsumer’sutilityfunction,wewilldeepenourunderstandingofthetrade-offinvolvedwhenchoosingtheoptimalconsumptionbundle

4、andofhowtheoptimalconsumptionbundleitselfchangesinresponsetochangesinthepricesofgoods.Ingrid’sUtilityFunction103020504070609080109876543210AB750utils1,050utils900utils600utils300utils150utils0utilsQuantityofroomsAllcombinationsofroomsandrestaurantmealsal

5、ongthiscontourlineyield450utils.Quantityofrestaurants450utilsIngrid’sUtilityFunctionIngridisindifferentbetweenAandB:becauseAandByieldthesametotalutilitylevel,Ingridisequallywelloffwitheitherbundle.Hence,acontourlinethatmapsconsumptionbundlesyieldingthesa

6、meamountoftotalutilityisknownasanindifferencecurve.AnIndifferenceCurveAnindifferencecurveisacontourlinethatshowsalltheconsumptionbundlesthatyieldthesameamountoftotalutilityforanindividual.Indifferencecurve,AB0214683579109080706050403015QuantityofroomsQua

7、ntityofrestaurantmeals450utilsAnIndifferenceCurveMapTheentireutilityfunctionofanindividualcanberepresentedbyanindifferencecurvemap,acollectionofindifferencecurvesinwhicheachcurvecorrespondstoadifferenttotalutilitylevel.ADBC0214683579109080706045301510Qua

8、ntityofroomsQuantityofrestaurantmealsI2I3I1391utils450utils519utilsABCDConsumptionbundle3654Quantityofrooms30151045450450391519(utils)QuantityofmealsTotalutilityPropertiesofIndifferenceCurvesAllindifferencecurvemapssharetw