TüKetici Tercihleri - GençEkonomist

8/9/2019 TKetici Tercihleri - GenEkonomist

1/56

2. BLM

TKETC TERCHLER

(Consumer Preferences)


2/56

Amalarmz

Tketici tercihini aklamak Fayda Kavraman aklamak Fiyat ve gelirin nemi Optimal davran Tketici dengesi

Anahtar kavramlar: Homo-economicus, faydafonksiyonu, farkszlk erileri, marjinal ikameoran, bte Kst, tketici dengesi, gelir ikameetkisi, bireysel talep fonksiyonu


3/56

htiya ve Tketici Tercihleri /Kavramlar

htita: Karlandnda insanlara haz,karlanmadnda ise elem, ve doyumsuzlukveren duygudur (alk ve susuzluk gibi)

Mal: nsan ihtiyalarn karlayan her trl fizikivarlk ve hizmetlerdir.

Tketici: Mal tketerek ihtiyalarn karlayankimsedir.

Fayda: Mallarn ihtiyalar giderme zelliidir.


4/56

ktisadiAklclk ve Homo-Economicus

1. Tam bilgiye sahip olma,

2. Seici olma,

3. ou aza tercih etme,4. Tercihler arasnda tutarl olma.


5/56

Fayda Kavram

Mallarn ihtiyalarn giderme zelliidir.

Kardinal ve ordinal yaklam

Fayda llebilir [Jevons (1854) ve Walras(1874)]

Fayda llemez [Edgeworth (1881),Antonelli (1886), rving Fisher (1892)]

Deer paradoksu?


6/56

Fayda Kavram/TU and MU


7/56

FaydaFonksiyonu

There are three steps involved in thestudy of consumer behavior

1. Consumer Preferences To describe how and why people prefer

one good to another

2. BudgetConstraints

People have limited incomes


8/56

Farkszlk Erileri (IndifferenceCurves:An Example)

Market Basket Units ofFood Units ofClothing

A 20 30

B 10 50

D 40 20

E 30 40

G 10 20

H 10 40


9/56

The consumerprefersA to allcombinationsin the yellow box, while

allthose in the pinkbox are preferredto A.

Farkszlk Erileri (IndifferenceCurves:An Example)

Food

10

20

30

40

10 20 30 40

Clothing

50

G

A

EH

B

D


10/56

Indifferentbetween pointsB, A, & D

E is preferredto points on U1Pointson U1are preferred toH & G

Farkszlk Erileri(Indifference Curves:An Example)

Food

10

20

30

40

10 20 30 40

Clothing

50

U1GD

A

EH

B


11/56

Farkszlk Erileri(Indifference Curves)

Farkszlk erisi zerindeki her nokta, eittoplam fayda

Mal dzleminin her noktasnda farkszlkerisi geer

Farkszlk erisi negatiftir

Orjine dbkeydir


12/56

U2

U3


Food

Clothing

U1

ABD

Market basketAis preferred to B.Market basket B is

preferred to D.


13/56


Food

Clothing B is preferred to DA is indifferent to B & DB must be indifferent to

D but that cant be if B ispreferred to D

U1

U1

U

2

U2

A

B

D


14/56

A

B

D

EG

-1

-6

1

1

-4

-21

1

Observation: The amountof clothing given up for

1 unit of food decreasesfrom 6 to 1

Marjinalkame Oran(Marginal Rate ofSubstitution)

Food

Clothing

2 3 4 51

2

4

6

8

1012

14

16


15/56


Food2 3 4 51

Clothing

2

4

6

8

1012

14

16 A

B

D

EG

-6

1

1

11

-4

-2-1

MRS = 6

MRS = 2

FCMRS(

(!


16/56

Azalan Marjinalkame Oran(Marginal Rate ofSubstitution)

MRS, kaytszlk erisi aa gittikeazalr

Along an indifference curve there is adiminishing marginal rate of substitution(Azalan marjinal kame erisi)

The MRS went from 6 to 4 to 1


17/56

MarjinalFayda ve Tketici TercihiMarginal Utilityand ConsumerChoice

Formally:

C)(MUF)(MU CF ((!0No change in total utility along an indifference curve.Trade off of one good to the other leaves the consumer

just as well off.


18/56

Marginal Utilityand ConsumerChoice

Rearranging:

CF

CF

/MUMUMRS

saycanWe

CforFofMRSFC

SinceMUMUFC

!

!((

!((

/

//


19/56


When consumers maximize satisfaction:

CF/PPMRS !

CFCF// UU !

Since the MRS is also equal to the ratio of themarginal utility of consuming F and C


20/56


Rearranging, gives the equation for utilitymaximization:

CCFFPMUPMU // !


21/56


Two polar cases are of interest Perfect substitutes (MRS sabit)

Perfect complements (MRS=0)


22/56

Tketici Tercihi/Kaytszlk Erisi

Orange Juice(glasses)

AppleJuice

(glasses)

2 3 41

1

2

3

4

0

Mkemmel

kame(Perfect

Substitutes)


23/56

Tketici Tercihi/Kaytszlk Erisi

Right Shoes

LeftShoes

2 3 41

1

2

3

4

0

Mkemmel Tamamlayc(Perfect

Complements)


24/56

Tketici Tercihi( ConsumerPreferences)

These consumersplace a greater

value onperformancethan styling

Styling

Performance


25/56

Tketici Tercihi( ConsumerPreferences

These consumersplace a greater

value on styling thanperformance

Styling

Performance


26/56

Fayda (Utility)

Utility function

Formula that assigns a level of utility to

individual market baskets If the utility function is

U(F,C) = F+ 2CA market basket with 8 units of food and 3 units of

clothing gives a utility of14 = 8 + 2(3)


27/56

Utility - Example

MarketBasket

Food Clothing Utility

A 8 3 8 + 2(3) = 14

B 6 4 6 + 2(4) = 14

C 4 4 4 + 2(4) = 12

Consumer is indifferent between A & B andprefers both to C


28/56

Utility - Example

Baskets for each level of utility can beplotted to get an indifference curve

To find the indifference curve for a utility of14, we can change the combinations of foodand clothing that give us a utility of14


29/56

Utility - Example

Food10 155

5

10

15

0

Clothing

U1 = 25

U2 = 50

U3 = 100A

B

C

Basket U = FCC 25 = 2.5(10)A 25 = 5(5)B 25 = 10(2.5)


30/56

ICPFP CF !

Bte Dorusu (The Budget Line)

The budget line then can be written:

All income is allocated to food (F) and/or clothing(C)


31/56


Different choices of food and clothing canbe calculated that use all income

These choices can be graphed as the budgetline

Example: Assume income of $80/week, PF = $1 and PC

= $2


32/56

Bte Kst(Budget Constraints)

MarketBasket

Food

PF = $1

Clothing

PC = $2

IncomeI = PFF + PCC

A 0 40 $80B 20 30 $80

D 40 20 $80

E 60 10 $80

G 80 0 $80


33/56

C

F

P

P

F

CSlope -

2

1- !!

(

(!


10

20

A

B

D

E

G

(I/PC) = 40

Food40 60 80 = (I/PF)20

10

20

30

0

Clothing


34/56


YXP

P

P

M

YPXPM

YPXPM

Y

X

Y

YX

YX

!

!

!


35/56

Bte Dorusu Deiimi(The Budget Line Changes)

An increase inincome shifts

the budget line

outward

Food(units per week)

Clothing(units

per week)

80 120 16040

20

40

60

80

0

(I = $160)L2

(I = $80)

L1

L3

(I =$40)

A decrease inincome shifts

the budget lineinward


36/56

Fiyat Deiiminin Etkisi(The Effects ofChangesin Prices)

The Effects of Changes in Prices If the price of one good decreases, the

budget line shifts outward, pivoting from the

other goods intercept. If the price of food decreases and you buy

only food (x-intercept), then you can buymore food. The x-intercept shifts out.

If you buy only clothing (y-intercept), you canbuy the same amount. No change in y-intercept.


37/56

Fiyat Deiiminin Etkisi(The Effects ofChangesin Prices)

(PF = 1)

L1

An increase in theprice of food to$2.00 changesthe slope of the

budget line androtates it inward.

L3

(PF= 2)(PF = 1/2)

L2

A decrease in theprice of food to$.50 changes

the slope of thebudget line and

rotates it outward.

40Food(units per week)

Clothing(units

per week)

80 120 160

40


38/56

Fiyat Deiiminin Etkisi /Talepfonk


39/56

Tketici Tercihi (ConsumerChoice)

Given preferences and budgetconstraints, how do consumers choose

what to buy?Consumers choose a combination of

goods that will maximize theirsatisfaction, given the limited budget

available to them


40/56


The maximizing market basket mustsatisfy two conditions:

1. It must be located on the budget line They spend all their income more is better

2. It must give the consumer the mostpreferred combination of goods and

services


41/56


Graphically, we can see differentindifference curves of a consumer

choosing between clothing and foodRemember that U3 > U2 > U1 for our

indifference curves

Consumer wants to choose highest utility

within their budget


42/56


U3

D

C

Food(units per week)40 8020

Clothing(units per

week)

20

30

40

0

U1

A

B

A, B, C on budget lineD highest utility but notaffordableC highest affordableutilityConsumer chooses C


43/56


Consumer will choose highestindifference curve on budget line

In previous graph, point C is where theindifference curve is just tangent to thebudget line

Slope of the budget line equals the slope

of the indifference curve at this point


44/56


Recall, the slope of an indifference curveis:

F

CMRS(

(!

C

F

P

PSlope !

Further, the slope of the budget line is:


45/56


Therefore, it can be said at consumersoptimal consumption point,

y

C

F

PPxMRS

P

PMRS

!

!


46/56


It can be said that satisfaction ismaximized when marginal rate of

substitution (ofFandC) is equal to theratio of the prices (ofFandC)

Note this is ONLY true at the optimalconsumption point


47/56


Optimal consumption point is wheremarginal benefits equal marginal costs

MB = MRS = benefit associated withconsumption of1 more unit of food

MC = cost of additional unit of food 1 unit food = unit clothing

PF/PC


48/56


49/56


Food (units per week)

Clothing(units per

week)

40 8020

20

30

40

0

PointB does notmaximize satisfaction

because the

MRS = -10/10 = 1is greaterthan theprice ratio = 1/2

+10F U1

-10C

B


50/56

ConsumerChoice:An Application Revisited

Consider two groups of consumers, eachwishing to spend $10,000 on the styling

and performance of a carEach group has different preferences


51/56


Styling

Performance$10,000

$10,000 These consumerswant performance

worth $7000 and styling

worth $3000

$3,000

$7,000


52/56


These consumerswant styling worth

$7000 and

performance worth$3000

$3,000

$7,000

Styling

$10,000

$10,000

Performance


53/56

Gelirtketim erisi/Engel Erisi


54/56

Gelirkame (Hicks Yaklam)

Figure 4-6: The Total Effect


55/56

Figure 4-6: The Total Effectofa Price Increase


56/56

TüKetici Tercihleri - GençEkonomist

Documents

Transcript of TüKetici Tercihleri - GençEkonomist