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【正文】 Satiation x2 x1 Better Satiation (bliss) point Indifference Curves for Discrete Commodities ?A modity is infinitely divisible if it can be acquired in any quantity。 the set of all bundles y ~ x’. ?Since an indifference “curve” is not always a curve a better name might be an indifference “set”. Indifference Curves x2 x1 x” x”’ x’ ~ x” ~ x”’ x’ Indifference Curves x2 x1 z x y p p x y z Indifference Curves x2 x1 x All bundles in I1 are strictly preferred to all in I2. y z All bundles in I2 are strictly preferred to all in I3. I1 I2 I3 Indifference Curves x2 x1 WP(x), the set of bundles weakly preferred to x. WP(x) includes I(x). x I(x) Indifference Curves x2 x1 SP(x), the set of bundles strictly preferred to x, does not include I(x). x I(x) Indifference Curves Cannot Intersect ! (不相交 !) x2 x1 x y z I1 I2 From I1, x ~ y. From I2, x ~ z. Therefore y ~ z. Indifference Curves Cannot Intersect x2 x1 x y z I1 I2 From I1, x ~ y. From I2, x ~ z. Therefore y ~ z. But from I1 and I2 we see y z, a contradiction. p Slopes of Indifference Curves ?When more of a modity is always preferred, the modity is a good. ?If every modity is a good then indifference curves are negatively sloped. Slopes of Indifference Curves Good 2 Good 1 Two goods a negatively sloped indifference curve. Slopes of Indifference Curves ?If less of a modity is always preferred then the modity is a bad. Slopes of Indifference Curves Good 2 Bad 1 One good and one bad a positively sloped indifference curve. Extreme Cases of Indifference Curves。 ? denotes weak preference。 ? ~ denotes indifference。 . x y and y z x z. ~ f ~ f ~ f Indifference Curves 無(wú)差異曲線 (或 ,無(wú)差異集 ) ?Take a reference bundle x’. The set of all bundles equally
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