生产者理论知识(000002).ppt

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1、TheFirm:ComparativeStaticsMicroEconomicsProductionOptimisationTheFirmandtheMarketComparativeStaticsComparativeStaticsOptimisationTheFirmandtheMarketProductionTheFirmOverview......wederivethefirm'sreactionstochangesinitsenvironment.Thesearetheresponsefunctions.Wewillexam

2、inethreetypesofthem,treatingthefirmasa......BlackBoxthefirmMovingonfromtheoptimum...thefirmoutputlevel;inputdemandsmarketpricesHowitworks...UsethefactthatthefirmisanoptimiserBehaviourcanbepredictedbynecessaryandsufficientconditionsforoptimumTheFOCcanbesolvedtoyieldbehav

3、iouralresponsefunctions.TheirpropertiesderivefromthesolutionfunctionThefirmasa“blackbox”TheFirmProductionOutputSupplyOrdinaryInputDemandOptimisationComparativeStaticsTheFirmandtheMarketOutputSupplyConditionalInputDemandOrdinaryInputDemandblackboxproblemsChooseztominimis

4、eSwizimi=1Q£G(z)...subjecttotheproductionconstraint...z³0...andtheobviousnon-negativityconditionsThesolutiontothefirst-stageproblem...C(w,Q):=minåwizivectorofinputpricesSpecifiedoutputleveland,presumably...Yieldsminimisedcostasafunctionofexogenousvariables...oneforeacho

5、ftheminputsz1*=H1(w,Q)z2*=H2(w,Q)............zm*=Hm(w,Q)üýþ...optimalinputdemandsasafunctionofexogenousvariablesdemandforinputi,conditionalonoutputQWeneedtoexaminethefirststageoftheoptimisationprocesszi*=Hi(w,Q)Afunctionofinputprices...andoutputlevelconditionalinputdema

6、ndfunction(ourfirstresponsefunction)ResultdependsonshapeofZz1z2z1z2z1z2z1z2z2z1Taketheconventionalcase...Maptheoptimuminto(z1,w1)-spacez2z1w1z1Startwithanarbitraryvalueofw1...Doitagainforalowervalueofw1......andagaintoget...H1(w,Q)theconditionaldemandcurveInthe"conventi

7、onal"case......theconstraintsetisconvex,withasmoothboundaryWefindthesolutionisacontinuousmap......thatissinglevalued.PointstonoteResultdependsonshapeofZz1z2z1z2z1z2z1z2Z(Q)_2z2z1Whataboutthenon-convexcase...?againmaptheoptimuminto(z1,w1)-spaceZ(Q)_2w1z2z1z1...nowtryaver

8、ylowvalueofw1Butwhathappensinbetween?ademandcorrespondenceNonconvexZ:jumpsinz*w1z1nopriceyieldsasolutionheremu