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【寶塔個經私藏筆記】Ch5More on Consumer Theory - 2
【寶塔個經私藏筆記】Ch5More on Consumer Theory - 2
Microeconomics (I)
Figure65 ∶
min x,y : Pxx+Pyy
Foc=> xh,yh
s.t. u(x,y)=u
𝑃𝑥
Foc MRSxy=𝑃𝑦 ○1
u(x,y)=u ○2
𝑀𝑢 𝛼𝑦 𝑃𝑥 𝛽
○1 => MRSxy=𝑀𝑢𝑥 = (𝛽 𝑥 = 𝑃𝑦) , 𝛽𝑃𝑥 𝑥 = 𝛼𝑃𝑦 𝑦 , 𝑃𝑦 𝑦 = 𝛼 𝑃𝑥 𝑥
𝑦
𝛽 𝑃𝑥
y=𝛼 𝑃𝑦 𝑥 ○1 ’
○2 => 𝑥 𝛼 𝑦 𝛽 =u
○1 ’→○2
𝛽 𝑃𝑥
𝑥 𝛼 (𝛼 𝑃𝑦)𝛽 𝑥 𝛽 = 𝑢 u(x,y)= x α y β
𝛽 𝑃𝑥 α m β m
𝑥 𝛼+𝛽 (𝛼 𝑃𝑦)𝛽 = 𝑢 x*=α+β P , y*=α+β P
x y
𝛽 𝑃𝑥 α m β m
𝑥 𝛼+𝛽 = (𝛼 𝑃𝑦)𝛽 𝑢 u(x*,y*)=(α+β)α (P )α.(α+β)β (P )β
x y
αα ββ mα+β
𝑥 ℎ = 𝑥(𝑃𝑥, 𝑃𝑦, 𝑢) =(α+β)α+β β
Pα
x Py
β 1
α Px
𝑥 h = (β Py)α+β uα+β
α 1
β Px
𝑦 h = (α Py)α+β uα+β
max x,y : u(x,y) vs. min x,y: Pxx+Pyy Px xh+Py yh is s function of Px,
Py ,u
s.t. Pxx+Pyy=m s.t. u(x,y)=u e(Px,Py,u)= Px xh+Py yh
=>x*=x(Px,Py,m) => xh=x(Px,Py,u) =Px x(Px,Py,u)+ Py y(Px,Py,u)
y*=y(Px,Py,m) yh=y(Px,Py,u) expenditure function 支出函數
(1)
𝑑𝑥 𝑑𝑥 𝑑𝑥
[𝑑𝑃 ]𝑃𝐸 = [𝑑𝑃 ]𝑆𝐸 + [𝑑𝑃 ]𝐼𝐸
𝑥 𝑥 𝑥
𝑑𝑥 𝑑𝑥 𝑑𝑥
[𝑑𝑃 ]𝑔𝑖𝑣𝑒𝑛 𝑚 = [𝑑𝑃 ]𝑔𝑖𝑣𝑒𝑛 𝑢 − 𝑥 𝑑𝑚
𝑥 𝑥
𝑑𝑥 ∗ 𝑑𝑥 ℎ 𝑑𝑥 ∗
= − 𝑥 𝑑𝑃 slutsky Equation
𝑑𝑃𝑥 𝑑𝑃𝑥 𝑥
PE SE IE
𝑑𝑥 ∗ 𝑃𝑥 𝑑𝑥 ℎ 𝑃𝑥 𝑑𝑥 ∗ 𝑃
= − 𝑥 𝑑𝑚 𝑥𝑥∗ 𝑥 ∗ = 𝑥 ℎ at equilibrium
𝑑𝑃𝑥 𝑥 ∗ 𝑑𝑃𝑥 ℎ
(2)
𝑑𝑥 𝑑𝑥 𝑑𝑥
[𝑑𝑃 ]IE = 𝑑𝑚 =-x𝑑𝑚
𝑥
−𝑥
𝑑𝑥 𝑑𝑥 𝑑𝑥
[𝑑𝑃 ]given m = [𝑑𝑃 ]given 𝑢 − 𝑥 𝑑𝑚
𝑥 𝑥
𝑑𝑥 ∗ 𝑑𝑥 ℎ 𝑑𝑥 ∗
= − 𝑥 𝑑𝑃 slutsky Equation
𝑑𝑃𝑥 𝑑𝑃𝑥 𝑥
PE SE IE
𝑑𝑥 ∗ 𝑃𝑥 𝑑𝑥 ℎ 𝑃𝑥 𝑑𝑥 ∗ 𝑃
= − 𝑥 𝑑𝑚 𝑥𝑥∗ 𝑥 ∗ = 𝑥 ℎ at equilibrium
𝑑𝑃𝑥 𝑥∗ 𝑑𝑃𝑥 ℎ
(3)
dx∗ dxh dx∗
? − y dm
dPy Py
dm
dm=-(dPy)y => dPy=- y
dx dx dx∗
[ dP ]IE = dm = −y dm
y −
y
PE SE IE
dx∗ Py dxh Py dx∗ Py
= dP − y dm x∗
dPy X∗ y xh
𝑑𝑥 ∗
< 0 => 𝑋 and 𝑌 are gross complements.
𝑑𝑃𝑦
𝑑𝑥 ℎ
> 0 => 𝑋 𝑎𝑛𝑑 𝑌 𝑎𝑟𝑒 𝑛𝑒𝑡 𝑠𝑢𝑏𝑠𝑡𝑖𝑡𝑢𝑡𝑒𝑠.
𝑑𝑃𝑦
𝑑𝑥 ℎ
< 0 => 𝑋 and 𝑌 are net complements.
𝑑𝑃𝑦
Figure68 ∶
Figure69 ∶
𝑥ℎ = 𝑥∗
𝑦ℎ = 𝑦∗ 為了滿足均衡而有的結果
e=Px𝑥 ℎ + Py𝑦 ℎ = Px𝑥 ∗ + Py𝑦 ∗ =m
e(Px ,Py ,u(𝑥 ∗ , 𝑦 ∗))=m
change in Px → change in 𝑥 ∗ , 𝑦 ∗
→ change in u(x ∗ , y ∗ )
suppose ther is a tox on X => Px↑→𝑥 ∗ , 𝑦 ∗ change
how to measure the change in u(x ∗ , y ∗ ) ?
補貼多少才能回到 original utility?
change in u(𝑥 ∗ , 𝑦 ∗ ) ~ change in income