【正文】 n be achieved by petitive trading? 2021/6/15 中級微觀經(jīng)濟學(xué) Trade in Competitive Markets ?2A?1AxA2xA1OA ?2B?1BxB1xB2OB Which PO allocations can be achieved by petitive trading? 2021/6/15 中級微觀經(jīng)濟學(xué) Trade in Competitive Markets ?2A?1AxA2xA1OA ?2B?1BxB1xB2OB Which PO allocations can be achieved by petitive trading? 2021/6/15 中級微觀經(jīng)濟學(xué) Trade in Competitive Markets ?2A?1AxA2xA1OA ?2B?1BxB1xB2OB Budget constraint for consumer A 2021/6/15 中級微觀經(jīng)濟學(xué) Trade in Competitive Markets ?2A?1AxA2xA1OA ?2B?1BxB1xB2OB Budget constraint for consumer A x A2*x A1*2021/6/15 中級微觀經(jīng)濟學(xué) Trade in Competitive Markets ?2A?1AxA2xA1OA ?2B?1BxB1xB2OB Budget constraint for consumer B x A2*x A1*2021/6/15 中級微觀經(jīng)濟學(xué) Trade in Competitive Markets ?2A?1AxA2xA1OA ?2B?1BxB1xB2OB Budget constraint for consumer B x A2*x A1*x B1*x B2*2021/6/15 中級微觀經(jīng)濟學(xué) Trade in Competitive Markets ?2A?1AxA2xA1OA ?2B?1BxB1xB2OB x A2*x A1*x B1*x B2*So x xA B A B1 1 1 1* *? ? ?? ?2021/6/15 中級微觀經(jīng)濟學(xué) Trade in Competitive Markets ?2A?1AxA2xA1OA ?2B?1BxB1xB2OB x A2*x A1*x B1*x B2*and x xA B A B2 2 2 2* *? ? ?? ?2021/6/15 中級微觀經(jīng)濟學(xué) Trade in Competitive Markets ?At the new prices p1 and p2 both markets clear。2021/6/15 中級微觀經(jīng)濟學(xué) Chapter TwentyNine Exchange 2021/6/15 中級微觀經(jīng)濟學(xué) Exchange ?Two consumers, A and B. ?Their endowments of goods 1 and 2 are ?. ?The total quantities available ? ? ?A A A? ( , )1 2? ? ?B B B? ( , ).1 2and ? A ? ( , )6 4 ? B ? ( , ).2 2and ? ?1 1 6 2 8A B? ? ? ?? ?2 2 4 2 6A B? ? ? ?units of good 1 units of good 2. and are 2021/6/15 中級微觀經(jīng)濟學(xué) Exchange ?Edgeworth and Bowley devised a diagram, called an Edgeworth box, to show all possible allocations of the available quantities of goods 1 and 2 between the two consumers. 2021/6/15 中級微觀經(jīng)濟學(xué) Starting an Edgeworth Box 2021/6/15 中級微觀經(jīng)濟學(xué) Starting an Edgeworth Box Width = ? ?1 1 6 2 8A B? ? ? ?2021/6/15 中級微觀經(jīng)濟學(xué) Starting an Edgeworth Box Width = ? ?1 1 6 2 8A B? ? ? ?Height = ? ?2 24 26A B?? ??2021/6/15 中級微觀經(jīng)濟學(xué) Starting an Edgeworth Box Width = ? ?1 1 6 2 8A B? ? ? ?Height = ? ?2 24 26A B?? ??The dimensions of the box are the quantities available of the goods. 2021/6/15 中級微觀經(jīng)濟學(xué) Feasible Allocations ?What allocations of the 8 units of good 1 and the 6 units of good 2 are feasible? ?How can all of the feasible allocations be depicted by the Edgeworth box diagram? 2021/6/15 中級微觀經(jīng)濟學(xué) Feasible Allocations ?What allocations of the 8 units of good 1 and the 6 units of good 2 are feasible? ?How can all of the feasible allocations be depicted by the Edgeworth box diagram? ?One feasible allocation is the beforetrade allocation。 . the endowment allocation. 2021/6/15 中級微觀經(jīng)濟學(xué) Width = ? ?1 1 6 2 8A B? ? ? ?Height = ? ?2 24 26A B?? ??The endowment allocation is ? A ? ( , )6 4? B ? ( , ).2 2and The Endowment Allocation 2021/6/15 中級微觀經(jīng)濟學(xué) Width = ? ?1 1 6 2 8A B? ? ? ?Height = ? ?2 24 26A B?? ??? A ? ( , )6 4? B ? ( , )2 2The Endowment Allocation 2021/6/15 中級微觀經(jīng)濟學(xué) ? A ? ( , )6 4OA OB 6 8 ? B ? ( , )2 2The Endowment Allocation 2021/6/15 中級微觀經(jīng)濟學(xué) ? A ? ( , )6 4OA OB 6 8 4 6 The Endowment Allocation 2021/6/15 中級微觀經(jīng)濟學(xué) ? B ? ( , )2 2OA OB 6 8 4 6 2 2 The Endowment Allocation 2021/6/15 中級微觀經(jīng)濟學(xué) ? A ? ( , )6 4? B ? ( , )2 2OA