中级微观经济学课件(第4章)
30页1、Chapter FourUtility效用What Do We Do in This Chapter? We create a mathematical measure of preference in order to advance our analysis.Utility Functions A preference relation that is complete, reflexive, transitive and continuous can be represented by a continuous utility function.Utility Functions A utility function U(x) represents a preference relation if and only if:x x” U(x) U(x”)x x” U(x) 0 and b 0 is called a Cobb-Douglas utility function. E.g. U(x1,x2) = x11/2x21/2(a = b = 1/2)V(x1,x2) = x1
2、x23 (a = 1, b = 3)Cobb-Douglas Indifference Curvesx2x1All curves are hyperbolic,asymptoting to, but nevertouching any axis.Marginal Utilities Marginal means “incremental”. The marginal utility of commodity i is the rate-of-change of total utility as the quantity of commodity i consumed changes; i.e.MUUxii=Marginal Utilities and Marginal Rates-of-Substitution The general equation for an indifference curve isU(x1,x2) k, a constant.Totally differentiating this identity givesUxdxUxdx11220+=Marginal
《中级微观经济学课件(第4章)》由会员ldj****22分享,可在线阅读,更多相关《中级微观经济学课件(第4章)》请在金锄头文库上搜索。
2024-03-10 3页
2023-12-04 4页
2024-03-19 11页
2022-10-06 4页
2023-05-02 5页
2022-10-03 6页
2022-08-30 21页
2022-10-04 7页
2023-03-21 5页
2023-02-25 4页