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microeconomics Uncertainty and Consumer Behavior参考.ppt

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microeconomics Uncertainty and Consumer Behavior参考

Production The Production Decisions of a Firm THE TECHNOLOGY OF PRODUCTION The Production Function THE TECHNOLOGY OF PRODUCTION The Short Run versus the Long Run PRODUCTION WITH ONE VARIABLE INPUT (LABOR) PRODUCTION WITH ONE VARIABLE INPUT (LABOR) Average and Marginal Products PRODUCTION WITH ONE VARIABLE INPUT (LABOR) The Slopes of the Product Curve PRODUCTION WITH ONE VARIABLE INPUT (LABOR) The Slopes of the Product Curve PRODUCTION WITH ONE VARIABLE INPUT (LABOR) The Law of Diminishing Marginal Returns PRODUCTION WITH ONE VARIABLE INPUT (LABOR) PRODUCTION WITH ONE VARIABLE INPUT (LABOR) Labor Productivity PRODUCTION WITH ONE VARIABLE INPUT (LABOR) PRODUCTION WITH TWO VARIABLE INPUTS Isoquants PRODUCTION WITH TWO VARIABLE INPUTS Isoquants PRODUCTION WITH TWO VARIABLE INPUTS Diminishing Marginal Returns PRODUCTION WITH TWO VARIABLE INPUTS Substitution Among Inputs PRODUCTION WITH TWO VARIABLE INPUTS Production Functions—Two Special Cases PRODUCTION WITH TWO VARIABLE INPUTS Production Functions—Two Special Cases PRODUCTION WITH TWO VARIABLE INPUTS RETURNS TO SCALE RETURNS TO SCALE Describing Returns to Scale RETURNS TO SCALE BEHAVIORAL ECONOMICS 5.5 Recall that the basic theory of consumer demand is basedon three assumptions: consumers have clear preferences for some goods over others; consumers face budget constraints; and given their preferences, limited incomes, and the prices of different goods, consumers choose to buy combinations of goods that maximize their satisfaction. These assumptions, however, are not always realistic. Perhaps our understanding of consumer demand (as well as the decisions of firms) would be improved if we incorporated more realistic and detailed assumptions regarding human behavior. This has been the objective of the newly flourishing field of behavioral economics. BEHAVIORAL ECONOMICS 5.5 Here are some examples of consumer behavior that cannot beeasily explained with the basic utility-maximizing assumptions: There has jus