平狄克微观经济学课件(英文 (3)

时间：2025-05-15

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CHAPTER

3Consumer Behavior

Prepared by: Fernando & Yvonn Quijano

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CHAPTER 3 OUTLINE

3.1 Consumer Preferences 3.2 Budget Constraints 3.3 Consumer ChoiceChapter 3: Consumer Behavior

3.4 Revealed Preference 3.5 Marginal Utility and Consumer Choice 3.6 Cost-of-Living Indexes

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Consumer Behavior

●theory of consumer behavior Description of how consumers allocate incomes among different goods and services to maximize their well-being. Consumer behavior is best understood in three distinct steps:Chapter 3: Consumer Behavior

1. 2. 3.

Consumer preferences Budget constraints Consumer choices

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3.1

CONSUMER PREFERENCES

Market Baskets ●market basket (or bundle) of one or more goods. List with specific quantities

TABLE 3.1 Alternative Market Baskets Market Basket AChapter 3: Consumer Behavior

Units of Food 20 10 40 30 10 10

Units of Clothing 30 50 20 40 20 40

B D E G H

To explain the theory of consumer behavior, we will ask whether consumers prefer one market basket to another.4 of 37

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3.1

CONSUMER PREFERENCES

Some Basic Assumptions about Preferences

1. Completeness: Preferences are assumed to be complete. In other words, consumers can compare and rank all possible baskets. Thus, for any two market baskets A and B, a consumer will prefer A to B, will prefer B to A, or will be indifferent between the two. By indifferent we mean that a person will be equally satisfied with either basket.Chapter 3: Consumer Behavior

Note that these preferences ignore costs. A consumer might prefer steak to hamburger but buy hamburger because it is cheaper.

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3.1

CONSUMER PREFERENCES

Some Basic Assumptions about Preferences 2. Transitivity: Preferences are transitive. Transitivity means that if a consumer prefers basket A to basket B and basket B to basket C, then the consumer also prefers A to C. Transitivity is normally regarded as necessary for consumer consistency. 3. More is better than less: Goods are assumed to be desirable—i.e., to be good. Consequently, consumers always prefer more of any good to less. In addition, consumers are never satisfied or satiated; more is always better, even if just a little better. This assumption is made for pedagogic reasons; namely, it simplifies the graphical analysis. Of course, some goods, such as air pollution, may be undesirable, and consumers will always prefer less. We ignore these “bads” in the c

ontext of our immediate discussion.

Chapter 3: Consumer Behavior

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3.1

CONSUMER PREFERENCES

Indifference curves

Figure 3.1 Describing Individual Preferences

Chapter 3: Consumer Behavior

Because more of each good is preferred to less, we can compare market baskets in the shaded areas. Basket A is clearly preferred to basket G, while E is clearly preferred to A. However, A cannot be compared with B, D, or H without additional information.

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3.1

CONSUMER PREFERENCES

Indifference curves ●indifference curveFigure 3.2 An Indifference Curve

Curve representing all combinations of market baskets that provide a consumer with the same level of satisfaction.

Chapter 3: Consumer Behavior

The indifference curve U1 that passes through market basket A shows all baskets that give the consumer the same level of satisfaction as does market basket A; these include baskets B and D. Our consumer prefers basket E, which lies above U1, to A, but prefers A to H or G, which lie below U1.

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3.1

CONSUMER PREFERENCES

Indifference Maps● indifference map Graph containing a set of indifference curves showing the market baskets among which a consumer is indifferent.Figure 3.3 An Indifference Map

Chapter 3: Consumer Behavior

An indifference map is a set of indifference curves that describes a person's preferences. Any market basket on indifference curve U3, such as basket A, is preferred to any basket on curve U2 (e.g., basket B), which in turn is preferred to any basket on U1, such as D.

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3.1

CONSUMER PREFERENCES

Indifference Maps

Figure 3.4 Indifference Curves Cannot Intersect

If indifference curves U1 and U2 intersect, one of the assumptions of consumer theory is violated. Chapter 3: Consumer Behavior According to this diagra …… 此处隐藏：7377字，全部文档内容请下载后查看。喜欢就下载吧 ……

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