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一、消费者选择理论回顾(First, consumer choice theory review)
一、消费者选择理论回顾(First, consumer choice theory review)
A review of the theory of consumer choice
1.1 basic structure
1.2 consumer preferences
- commodity group (consumption bundle)
The commodity set (set of consumption - bundles)
That is two kinds of commodities, X, Y, respectively (goods, not and bads are commodities)
(axioms) -- axioms or hypotheses
(1) does not meet (non-satiation)
Get each commodity number the better.
So, in any one commodity group, the entire X-Y space is divided into five parts: the mutual exclusion point of a (better-than set) in the set, to set (worse-than set), and the other two sets. If there is a difference set, then it must be located in the two concentration (Figure I, IV region) and including a.
Note that to set and set to include all boundaries, but does not contain a.
(2) completeness
The comparison of any two commodities group (22 compared)
AB, AB, or a~b
If X and Y are infinitely divisible, and consumers can compare any two commodities group, there is no difference between a continuous set (indifference set), and the set is a downward sloping line. as
In the above, at any point in the indifference curve, the slope is negative. The absolute value of the slope is the marginal rate of substitution (marginal rate of substitution).
According to the completeness of the X-Y space is divided into three mutually exclusive sets, respectively. No difference set, to set (located in the upper right, no difference in difference in (in) no difference in the lower left).
(3) convexity (convexity). Strictly convex points (strong) and strict (weak).
Strict convexity: diminishing marginal rate of substitution;
Not strictly convex: the marginal rate of substitution is not incremented;
(4) differentiability or smoothness (differentiability or smoothness)
(= = marginal rate of substitution)
(5) transfer (transitivity)
If a~b and b~c, c~a
Transfer is not allowed to have any two different indifference curves intersect
1.3 no difference curve
Important properti
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