倫敦經(jīng)濟(jì)學(xué)院高微講義-消費(fèi)者理論(3)(已修改)
2025-10-26 10:47 本頁面
【正文】 The Consumer: Welfare and Aggregation MicroEconomics Aggregation Optimisation and Comparative Statics Welfare Opportunities and Preferences The Consumer Overview... ? Consumer analysis is not just a matter of consumers39。 reactions to prices. ? We pick up the effect of prices on ines on attainable utility consumer39。s welfare. ? This is useful in the design of economic policy, for example. ? We can use a number of tools that have bee standard in applied microeconomics tax structures? price indices? Why are we concerned with welfare? The Consumer Opportunities and Preferences Optimisation and Comp. Statics Aggregation Welfare CV and EV Consumer39。s surplus Utility and Ine CV and EV Consumer 39。s Welfare Concepts ?We could use some concepts that we already have. ?Assume that people know what39。s best for them... ?...So that the preference map can be used as a guide. ?We need to look more closely at the concept of maximised utility... ?...the indirect utility function again. How do we measure an individual39。s 39。welfare39。? x2 x1 ? x* u x2 x1 ? x* subject to U(x) ? u min n S pixi i=1 subject to max n S pixi ? M i=1 U(x) Because the solutions to the primal and dual problems must match... M = C(p, u) minimised cost in the dual constraint ine in the primal … we know that the underlying solution can be written this way... maximised utility in the primal constraint utility level in the dual u = V(p, M) ...and the other solution this way. Putting the two parts together... M = C(p, V(p, M)) M = C(p, u) We can get some fundamental results on the person39。s welfare... ? ?M For example see the effect of varying ine... M = C(p, V(p, M)) M = C(p, u) 1=Cu(p, u) VM(p, M) To get a relationship between the slopes of C and V From the two Lagrangeans we get... marginal cost (in terms of utility) of a dollar of the budget Cu(p, u) = l marginal cost of utility in terms of money VM(p, M) = n l = 1 / n This give
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