倫敦經(jīng)濟(jì)學(xué)院高微講義-消費者理論(1)(編輯修改稿)
2024-11-15 10:46 本頁面
【文章內(nèi)容簡介】 r ?Observe the choices made ?Introduce some minimal consistency axioms. Revealed Preference Suppose the market prices determine a person39。s budget constraint thus... x x O A B B … and suppose the person chooses bundle xA at point A... x2 B A x1 x 2 A A is revealed preferred to all these points x 1 A Use this to introduce the concept of Revealed Preference xBnot xA O x x O A B ? Weak Axiom of Revealed Preference Take the original equilibrium Now let pric s and the b dget change... x2 A x1 Monday39。s choice can still afford the original choice B B39。 B violates WARP B39。 does not WARP in action But could we extend this idea...? Take the basic idea of revealed preference ? x x2 x1 x is revealed preferred to all these points Extending the idea of revealed preference ? x39。 x39。 is revealed preferred to all these points Extending the idea of revealed preference again x39。39。 is revealed preferred to all these points ? x39。39。 Is this an indifference curve...? ? No. ? Why? WARP rules out this preference pattern... ...but not this Revealed Preference: is it Useful? ?You can get a lot from just a little ?You do not need any dodgy assumptions about consumer39。s motives ?WARP provides a simple consistency test The Consumer Opportunities and Preferences Revealed Preference Axiomatic Approach Optimisation and Comp. Statics Aggregation Welfare Budget Sets eveale refere ce t seThe Basics ?Useful for setting out a priori what we mean by consumer preferences. ?But, be careful imposing axioms ?...they could be inappropriate or overrestrictive. ?That all depends on what you want to model. ?Let39。s start with the basic relation... The Axiomatic Approach The weak preference relation x x39。 Basket x is at
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