浙江大学中级微观经济学第30章Exchange课件.ppt

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1、ChapterThirtyExchange交换ContentsTheEdgeworth(艾奇沃斯)BoxParetoimprovingtradeParetoEfficientAllocationTheCore(核心)TradeinacompetitivemarketWalras’Lawofgeneralequilibrium(一般均衡)FirstFundamentalTheoremofWelfareEconomics(福利经济学第一定理)SecondFundamentalTheoremofWelfareEconomics(福利经济学第二定理)Exch

2、angeTwoconsumers,AandB.Theirendowmentsofgoods1and2areE.g.Thetotalquantitiesavailableandandunitsofgood1unitsofgood2.andareExchangeEdgeworthandBowleydevisedadiagram,calledanEdgeworthbox,toshowallpossibleallocationsoftheavailablequantitiesofgoods1and2betweenthetwoconsumers.Startin

3、ganEdgeworthBoxStartinganEdgeworthBoxWidth=StartinganEdgeworthBoxWidth=Height=StartinganEdgeworthBoxWidth=Height=Thedimensionsoftheboxarethequantitiesavailableofthegoods.FeasibleAllocationsWhatallocationsofthe8unitsofgood1andthe6unitsofgood2arefeasible?Howcanallofthefeasible

4、allocationsbedepictedbytheEdgeworthboxdiagram?Onefeasibleallocationisthebefore-tradeallocation;i.e.theendowmentallocation.Width=Height=TheendowmentallocationisandTheEndowmentAllocationWidth=Height=TheEndowmentAllocationOAOB68TheEndowmentAllocationOAOB6846TheEndowmentAllocation

5、OAOB684622TheEndowmentAllocationOAOB684622TheendowmentallocationTheEndowmentAllocationMoregenerally,…TheEndowmentAllocationTheEndowmentAllocationOAOBTheendowmentallocationOtherFeasibleAllocationsdenotesanallocationtoconsumerA.denotesanallocationtoconsumerB.Anallocationisfea

6、sibleifandonlyifandFeasibleReallocationsOAOBFeasibleReallocationsOAOBFeasibleReallocationsAllpointsinthebox,includingtheboundary,representfeasibleallocationsofthecombinedendowments.Whichallocationswillbeblockedbyoneorbothconsumers?Whichallocationsmakebothconsumersbetteroff?Addi

7、ngPreferencestotheBoxOAForconsumerA.AddingPreferencestotheBoxMorepreferredForconsumerA.OAAddingPreferencestotheBoxForconsumerB.OBAddingPreferencestotheBoxMorepreferredForconsumerB.OBAddingPreferencestotheBoxMorepreferredForconsumerB.OBAddingPreferencestotheBoxOAForconsumerA.Add

8、ingPreferencestotheBoxOAOBEdgeworth’sBoxOAOBPareto-Imp