倫敦經(jīng)濟(jì)學(xué)院高微講義-消費(fèi)者理論(3)-在線瀏覽
2024-12-06 10:47本頁(yè)面
【正文】 nstraint 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 39。s Welfare Concepts ?We could use some concepts that we already have. ?Assume that people know what39。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。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 surplus Utility and Ine CV and EV Consumer 39。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。welfare39。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 gives us a framework for the evaluation of marginal changes of ine... ...but does this give us what we need? And from the condition on the slopes ),(( 212211 zzuuzwzw ???? l?)(),( 221121 zwzwMvzzu ?????Cost Minimisation Utility Maximisation The Consumer Opportunities and Preferences Optimisation and Comp. Statics Aggregation Welfare CV and EV Consumer39。s We
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