高级微观经济学utilitymaximization(编辑修改稿)

高级微观经济学utilitymaximization(编辑修改稿)内容摘要：

s are called Walras’ Demand Correspondence, or function if it’s single point. 0m a x ( ) . . ( . )us t B wxx x p( . )wxp maximization • Properties of – HD0 – Satisfied Walras’ Law – If are concave, are concave too, if are strictly concave, is single point. ( . )wxp( . )wxp( . )wxp%% maximization • If the solution , then • Here is the shadow price: the marginal utility of optimal consumption . • The value function is called “indirect utility function”: ( . ) 0wxp ()u xp( . )wxp 1( ) ( ) ( , )( , )wwwE nge l aggr e gationu u D wDw      x x x pp x p( . ) ( ( . ) )v w u wp x p minimization • EMP: • The solution was called “Hicks (or pensation ) demand correspondence”. single pointfunction. – It’s HD0 of p. – It’s convex, as is . and single point when are strictly convex. 0m in . . ( )s t u uxpx x( , )hup % % minimization • The value function: “expenditure function” (money metric untility) • So , when price changing, if the wealth of consumer change correspondentl。