Tsinghua_2005MBA_Lecture_04(Consumer Behavior)(ppt 141页)(英文)
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Apple-Cinnamon Cheerios The Food Stamp Program.
Chapter 1
Slide 4
Consumer Behavior
General Mills had to determine how high a price to charge for AppleCinnamon Cheerios before it went to the market.
U2 U1
Indifference Curves Cannot Cross
A D
The consumer should be indifferent between A, B and D. However, B contains more of both goods than D.
B
Chapter 1
2) Then we will turn to budget constraints.
People have limited incomes.
Chapter 1
Slide 8
Consumer Behavior
There are three steps involved in the study of consumer behavior.
Chapter 1
Slide 2
Consumer Purchasing Decision Making Process
Preference
Budget Constraint
Choice
Chapter 1
Slide 3
Consumer Behavior
Two applications that illustrate the importance of the economic theory of consumer behavior are:
10 8 6 4 2
Chapter 1
B
1
-4
D
1
-2
E
1 -1
G
1
12345
Question: Does this relation hold for giving up food to get clothing?
Food (units per week)
Slide 22
Consumer Preferences
Each indifference curve in the map shows the market baskets among which the person is indifferent.
Chapter 1
Slide 18
Consumer Preferences
Indifference Curves
Chapter 1
Slide 11
Consumer Preferences
Market Baskets
Three Basic Assumptions 1) Preferences are complete. 2) Preferences are transitive. 3) Consumers always prefer more of any good to less.
Food (units per week)
Slide 21
Consumer Preferences
Clothing 16
A
(units
per week) 14
12 -6
Observation: The amount of clothing given up for a unit of food decreases from 6 to 1
Any market basket lying above and to the right of an indifference curve is preferred to any market basket that lies on the indifference curve.
Chapter 1
Chapter 1
Slide 6
Consumer Behavior
These two problems require an understanding of the economic theory of consumer behavior.
Chapter 1
Slide 7
Consumer Behavior
3) Finally, we will combine consumer preferences and budget constraints to determine consumer choices.
What combination of goods will consumers buy to maximize their satisfaction?
Consumer Preferences
Marginal Rate of Substitution
It is measured by the slope of the indifference curve.
Chapter 1
Slide 23
Consumer Preferences
Clothing 16
A
(units
per week) 14
12 -6
MRS = 6
MRSCF
10 8 6 4 2
E
D
Food
30
40 (units per week)
Slide 15
Consumer Preferences
Clothing (units per week)
50 40 30 20 10
Chapter 1
B H
A
G
10
20
Combination B,A, & D yield the same satisfaction •E is preferred to U1 •U1 is preferred to H & G
Indifference Curves
Indifference curves represent all combinations of market baskets that provide the same level of satisfaction to a person.
Chapter 1
Marginal Rate of Substitution
The marginal rate of substitution (MRS) quantifies the amount of one good a consumer will give up to obtain more of another good.
Chapter 1
Slide 9
Example
Do you agree with the following statement?
湖南人不怕辣，贵州人辣不怕，四川人怕不辣， 可见四川人最能吃辣椒。
Chapter 1
Slide 10
Consumer Preferences
Market Baskets
Chapter 1
Slide 5
Consumer Behavior
When the food stamp program was established in the early 1960s, the designers had to determine to what extent the food stamps would provide people with more food and not just simply subsidize the food they would have bought anyway.
Slide 17
Consumer Preferences
Indifference Maps
An indifference map is a set of indifference curves that describes a person’s preferences for all combinations of two commodities.
Chapter 1
B
1
-4
D MRS = 2
1
-2
E
1 -1
G
1
12345
Food (units per week)
Slide 24
Consumer Preferences
Marginal Rate of Substitution
We will now add a fourth assumption regarding consumer preference:
Finally, indifference curves cannot cross. This would violate the assumption that more is preferred to less.
Chapter 1
Slide 19
Consumer Preferences
Clothing (units per week)
E
D U1
Food
30
40
(units per week)
Slide 16
Consumer Preferences
Indifference Curves
Indifference curves slope downward to the right.
If it sloped upward it would violate the assumption that more of any commodity is preferred to less.
Chapter 1
Slide 12
Consumer Preferences
Market Basket Units of Food Units of Clothing
A
20
30
B
10
50
D
40
20
E
30
40
G
10
20
H
10
40
Chapter 1
Slide 13
Consumer Preferences
Slide 14
Consumer Preferences
Clothing (units per week)
50 40 30 20 10
Chapter 1
B HAG Nhomakorabea10
20
The consumer prefers A to all combinations in the blue box, while all those in the pink box are preferred to A.
Along an indifference curve there is a diminishing marginal rate of substitution. Note the MRS for AB was 6, while that for DE was 2.
Chapter 1
Slide 25
D B
Chapter 1
Market basket A is preferred to B. Market basket B is preferred to D.
A U3
U2
U1
Food (units per week)
Slide 20
Consumer Preferences
Clothing (units per week)
Lecture 4
Consumer Behavior
Topics to be Discussed
Consumer Preferences Budget Constraints Consumer Choice Revealed Preferences Marginal Utility and Consumer Choices Cost-of-Living Indexes
A market basket is a collection of one or more commodities.
One market basket may be preferred over another market basket containing a different combination of goods.
There are three steps involved in the study of consumer behavior.
1) We will study consumer preferences.
To describe how and why people prefer one good to another.
Chapter 1
Slide 4
Consumer Behavior
General Mills had to determine how high a price to charge for AppleCinnamon Cheerios before it went to the market.
U2 U1
Indifference Curves Cannot Cross
A D
The consumer should be indifferent between A, B and D. However, B contains more of both goods than D.
B
Chapter 1
2) Then we will turn to budget constraints.
People have limited incomes.
Chapter 1
Slide 8
Consumer Behavior
There are three steps involved in the study of consumer behavior.
Chapter 1
Slide 2
Consumer Purchasing Decision Making Process
Preference
Budget Constraint
Choice
Chapter 1
Slide 3
Consumer Behavior
Two applications that illustrate the importance of the economic theory of consumer behavior are:
10 8 6 4 2
Chapter 1
B
1
-4
D
1
-2
E
1 -1
G
1
12345
Question: Does this relation hold for giving up food to get clothing?
Food (units per week)
Slide 22
Consumer Preferences
Each indifference curve in the map shows the market baskets among which the person is indifferent.
Chapter 1
Slide 18
Consumer Preferences
Indifference Curves
Chapter 1
Slide 11
Consumer Preferences
Market Baskets
Three Basic Assumptions 1) Preferences are complete. 2) Preferences are transitive. 3) Consumers always prefer more of any good to less.
Food (units per week)
Slide 21
Consumer Preferences
Clothing 16
A
(units
per week) 14
12 -6
Observation: The amount of clothing given up for a unit of food decreases from 6 to 1
Any market basket lying above and to the right of an indifference curve is preferred to any market basket that lies on the indifference curve.
Chapter 1
Chapter 1
Slide 6
Consumer Behavior
These two problems require an understanding of the economic theory of consumer behavior.
Chapter 1
Slide 7
Consumer Behavior
3) Finally, we will combine consumer preferences and budget constraints to determine consumer choices.
What combination of goods will consumers buy to maximize their satisfaction?
Consumer Preferences
Marginal Rate of Substitution
It is measured by the slope of the indifference curve.
Chapter 1
Slide 23
Consumer Preferences
Clothing 16
A
(units
per week) 14
12 -6
MRS = 6
MRSCF
10 8 6 4 2
E
D
Food
30
40 (units per week)
Slide 15
Consumer Preferences
Clothing (units per week)
50 40 30 20 10
Chapter 1
B H
A
G
10
20
Combination B,A, & D yield the same satisfaction •E is preferred to U1 •U1 is preferred to H & G
Indifference Curves
Indifference curves represent all combinations of market baskets that provide the same level of satisfaction to a person.
Chapter 1
Marginal Rate of Substitution
The marginal rate of substitution (MRS) quantifies the amount of one good a consumer will give up to obtain more of another good.
Chapter 1
Slide 9
Example
Do you agree with the following statement?
湖南人不怕辣，贵州人辣不怕，四川人怕不辣， 可见四川人最能吃辣椒。
Chapter 1
Slide 10
Consumer Preferences
Market Baskets
Chapter 1
Slide 5
Consumer Behavior
When the food stamp program was established in the early 1960s, the designers had to determine to what extent the food stamps would provide people with more food and not just simply subsidize the food they would have bought anyway.
Slide 17
Consumer Preferences
Indifference Maps
An indifference map is a set of indifference curves that describes a person’s preferences for all combinations of two commodities.
Chapter 1
B
1
-4
D MRS = 2
1
-2
E
1 -1
G
1
12345
Food (units per week)
Slide 24
Consumer Preferences
Marginal Rate of Substitution
We will now add a fourth assumption regarding consumer preference:
Finally, indifference curves cannot cross. This would violate the assumption that more is preferred to less.
Chapter 1
Slide 19
Consumer Preferences
Clothing (units per week)
E
D U1
Food
30
40
(units per week)
Slide 16
Consumer Preferences
Indifference Curves
Indifference curves slope downward to the right.
If it sloped upward it would violate the assumption that more of any commodity is preferred to less.
Chapter 1
Slide 12
Consumer Preferences
Market Basket Units of Food Units of Clothing
A
20
30
B
10
50
D
40
20
E
30
40
G
10
20
H
10
40
Chapter 1
Slide 13
Consumer Preferences
Slide 14
Consumer Preferences
Clothing (units per week)
50 40 30 20 10
Chapter 1
B HAG Nhomakorabea10
20
The consumer prefers A to all combinations in the blue box, while all those in the pink box are preferred to A.
Along an indifference curve there is a diminishing marginal rate of substitution. Note the MRS for AB was 6, while that for DE was 2.
Chapter 1
Slide 25
D B
Chapter 1
Market basket A is preferred to B. Market basket B is preferred to D.
A U3
U2
U1
Food (units per week)
Slide 20
Consumer Preferences
Clothing (units per week)
Lecture 4
Consumer Behavior
Topics to be Discussed
Consumer Preferences Budget Constraints Consumer Choice Revealed Preferences Marginal Utility and Consumer Choices Cost-of-Living Indexes
A market basket is a collection of one or more commodities.
One market basket may be preferred over another market basket containing a different combination of goods.
There are three steps involved in the study of consumer behavior.
1) We will study consumer preferences.
To describe how and why people prefer one good to another.