09 Consumer Choice and Behavioral Economics 管理经济学 教学课件.pptVIP

Consumer Choice andBehavioral Economics Can LeBron James Get You to Drink Powerade? After studying this chapter, you should be able to: Define utility and explain how consumers choose goods and services to maximize their utility. Use the concept of utility to explain how the law of demand results from consumers adjusting their consumption choices to changes in prices. Explain how social influences can affect consumption choices. Describe how people can improve their decision making by taking into account nonmonetary opportunity costs, ignoring sunk costs, and being more realistic about their future behavior. Utility and Consumer Decision Making Utility and Consumer Decision Making Utility and Consumer Decision Making Utility and Consumer Decision Making Utility and Consumer Decision Making Finding the Optimal Level of Consumption Finding the Optimal Level of Consumption (continued) Utility and Consumer Decision Making Utility and Consumer Decision Making Utility and Consumer Decision Making Where Demand Curves Come From Social Influences on Decision Making Why Do Firms Pay Tiger Woods to Endorse Their Products? Social Influences on Decision Making Professor Krueger Goes to the Super Bowl Behavioral Economics:Do People Make Their Choices Rationally? Behavioral Economics:Do People Make Their Choices Rationally? Behavioral Economics:Do People Make Their Choices Rationally? Why Don’t Students Study More? A Celebrity Endorser Who Doesnt Offend? Slim Chance Behavioral economics Budget constraint Endowment effect Income effect Law of diminishing marginal utility Dell Determines the Optimal Mix of Products When Does a Price Change Make a Consumer Better Off? Indifference curve 9 - 4 Dell has to determine which mix of computer components matches consumers’ preferences. Appendix 9A: Using Indifference Curves and Budget Lines to Understand Consumer Behavior Choosing the Optimal Consumption of Pizza and Coke How a Price Change Affects Optimal Consumption