Chapter 3 Consumer Behavior Chapter Outline Consumer Preferences ·Budget Constraints 。Consumer Choice Marginal Utility and Consumer Choice Microeconomics (fitth edition) Author:Robert S.Pindyc,Daniel L.Rubinfeld
Chapter 3 Consumer Behavior Chapter Outline • Consumer Preferences • Budget Constraints • Consumer Choice • Marginal Utility and Consumer Choice • Microeconomics (fitth edition) • Author: Robert S. Pindyc, Daniel L. Rubinfeld
>Theory of consumer behavior-Description of how consumers allocate incomes among different goods and services to maximize their well-being(福利). >Consumer behavior is best understood in the following three distinct steps: Consumer Preferences √Budget Constraints √Consumer choices
➢ Theory of consumer behavior-Description of how consumers allocate incomes among different goods and services to maximize their well-being (福利). ➢ Consumer behavior is best understood in the following three distinct steps: ✓ Consumer Preferences ✓ Budget Constraints ✓ Consumer choices
3.1 Consumer Preferences >Market basket(购物篮)(or bundle)List with specific quantities of one or more goods. 3.1.1 Some Basic Assumptions about Preferences √Completeness(完备性)：Preferences are assumed to be complete.In other words,consumers can compare and rank all possible baskets
3.1 Consumer Preferences ➢ Market basket (购物篮) (or bundle) List with specific quantities of one or more goods. 3.1.1 Some Basic Assumptions about Preferences ✓ Completeness (完备性): Preferences are assumed to be complete. In other words, consumers can compare and rank all possible baskets
√Transitivity(传递性)：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. √Nonsatiation(贪得无厌)：Consumers always prefer more of any good to less
✓ Transitivity (传递性): 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. ✓ Nonsatiation (贪得无厌) : Consumers always prefer more of any good to less
▣The theory of consumer choice rests on(取决于)the assumption that people behave rationally in an attempt to maximize the satisfaction that they can obtain by purchasing a particular combination of goods and services
❑ The theory of consumer choice rests on (取决于) the assumption that people behave rationally in an attempt to maximize the satisfaction that they can obtain by purchasing a particular combination of goods and services