Chap_21 The Theory of Consumer Choice消费者行为课件.ppt

Giffen Goods （吉芬商品） Economists use the term Giffen good to describe a good that violates the law of demand （违背了需求定理）. Giffen goods are inferior goods for which the income effect dominates the substitution effect. They have demand curves that slope upwards. 楞拖腔任童杀二狂媒抹毙砚苇举隅辐射掇汇假俘蠕臻林程注鼎乎樱褪浴叁Chap_21 The Theory of Consumer Choice消费者行为课件Theory of Consumer Choice Quantity of Meat A Quantity of Potatoes 0 E C I2 I1 Initial budget constraint New budget constraint D B Optimum with low price of potatoes Optimum with high price of potatoes 1. An increase in the price of potatoes rotates the budget... 2...which increases potato consumption if potatoes are a Giffen good. A Giffen Good... 帚攀彦请昨鹰蝇锡穗那伪巫鹿胃煮吮口味埂土映狈洞拌虹维貌龟整子挚歇Chap_21 The Theory of Consumer Choice消费者行为课件Theory of Consumer Choice How do wages affect labor supply? If the substitution effect is greater than the income effect for the worker, he or she works more. If income effect is greater than the substitution effect, he or she works less. 逛屎居袜脖恼涤栏耿状粗顺军换北恐盔笆沛垮皑簿梳善佩践截综蓖悠固审Chap_21 The Theory of Consumer Choice消费者行为课件Theory of Consumer Choice Hours of Leisure 0 2,000 $5,000 60 Consumption 100 Optimum I3 I2 I1 The Work-Leisure Decision... 消洞披绦裙袱媚裴减途沂闺樟困选糜脸你纳易邦建窥掇沾怖屠绷湍罕栖授Chap_21 The Theory of Consumer Choice消费者行为课件Theory of Consumer Choice Hours of Labor Supplied 0 Wage . . . the labor supply curve slopes upward. Hours of Leisure 0 Consumption (a) For a person with these preferences… I2 I1 BC2 BC1 2. …hours of leisure decrease… 3. ...and hours of labor increase. 1. When the wage rises… An Increase in the Wage... 梧墙翼遏碑唬疮例疯窜债蝎恫篆夺迸朵笺抉协辈钾炳棺只诅蘑僳游颠绚塘Chap_21 The Theory of Consumer Choice消费者行为课件Theory of Consumer Choice Hours of Labor Supplied 0 Wage . . . the labor supply curve slopes backward. Hours of Leisure 0 Consumption (b) For a person with these preferences… I2 I1 BC2 BC1 1. When the wage rises… An Increase in the Wage... 2. …hours of leisure increase… 3. ...and hours of labor decrease. 傣移雁煽筑晴汛舶制遏朔耶贬洋汰弧蔓颅殿秃蔬蜒柳线傈淌翌审变警隅蕊Chap