中微课件范里安版 Micro Ch30.ppt

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1、RemarksontheFinalFinalExamination:1.Finalexamiscomprehensive.2.Itmainlycoversthematerialaftermidterm.3.Thematerialsbeforemidtermareimportantintwoways:1)someproblemsmaydirectlycomefromthosechapters.2)thematerialsbeforemidtermprovideafoundationfornewmaterials.Theformatofthe

2、finalwillbethesameasthatinthemidterm.OfficeHour:4-5pmThursdayChapterThirtyExchangeWhereareweinthecourse?Weareinpart3ofthecourse:PuttingtogetherconsumertheoryandproductiontheoryWearestudyinggeneralequilibrium(一般均衡)Firstconsiderthecaseofexchangeeconomy:noproductionTheExchan

3、geEconomyTwoconsumers,AandB.Theirendowmentsofgoods1and2areE.g.Thetotalquantitiesavailableandandunitsofgood1unitsofgood2.andareExchangeEdgeworthandBowleydevisedadiagram,calledanEdgeworthbox,toshowallpossibleallocationsoftheavailablequantitiesofgoods1and2betweenthetwoconsum

4、ers.StartinganEdgeworthBoxWidth=Height=Thedimensionsoftheboxarethequantitiesavailableofthegoods.OAOB684622TheEndowmentAllocationOAOB684622TheendowmentallocationTheEndowmentAllocationTheEndowmentAllocationOAOBTheendowmentallocationOtherFeasibleAllocationsdenotesanal

5、locationtoconsumerA.denotesanallocationtoconsumerB.AnallocationisfeasibleifandonlyifandFeasibleReallocationsOAOBFeasibleReallocationsAllpointsinthebox,includingtheboundary,representfeasibleallocationsofthecombinedendowments.FeasibleReallocationsAllpointsinthebox,including

6、theboundary,representfeasibleallocationsofthecombinedendowments.Whichallocationswillbeblockedbyoneorbothconsumers?Whichallocationsmakebothconsumersbetteroff?AddingPreferencestotheBoxMorepreferredForconsumerA.OAAddingPreferencestotheBoxMorepreferredForconsumerB.OBAddingPre

7、ferencestotheBoxOAForconsumerA.Edgeworth’sBoxOAOBPareto-ImprovementAnallocationoftheendowmentthatimprovesthewelfareofaconsumerwithoutreducingthewelfareofanotherisaPareto-improvingallocation.WherearethePareto-improvingallocations?Edgeworth’sBoxOAOBPareto-ImprovementsOAOBTh

8、esetofPareto-improvingallocationsPareto-ImprovementsSinceeachconsumercanrefusetotrade,theonlypo