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Microeconomic Theory

Andreu Mas

-

Cole11 Michael

D.

Whinston

and

Jerry R. Green

New

York Oxford OXFORD UNIVERSITY

PRESS

1995

 

Contents

.

.

.

Preface

XIII

PART

ONE:

INDlVIDlJAL

DECISION MAKING

3

Chapter

1. Prcfercncc

and Choice

5

1 A

Introduction

5

I

B

I referencc

Relations

6

l.C

Choice Rules 1.0 .l hc Rclationship

between Preference Relations and Choice Rules

I I

Excrciscs

5

Chapter

2.

Consumer

Choice

17

2 A

Introduction

17

2.B

Commodities

17

2

The

Consumption Set

18

2.D

C ompctitive

Budgets

20

2

Demand

Functions and Comparative Statics

23

2.F

The Weak

Axiom of Rcvcalcd Preference and the Law of Demand

28

Excrciscs

36

Chapter

3.

( lnssical Demand

Theory

40

Introduction

40

I refcrcncc

Relations: Basic Properties 41

I rcfcrcnceandUtility

46

The

Utility

Maximi~ation

Problem

50

The

Expenditure Minimization Problem

57

Duality:

A

Mathematical Introduction

63

Relationships between Demand, Indirect Utility, and Expenditure Functions

67

Integrability

75

Welfare Evaluation of Economic Changes

80

The

Strong Axiom of Revealed Preference

91

Appcndix

A:

C ontinuity

and

Differentiability Properties

of

Walrasian Demand

92

Excrciscs

6

Chapter

4.

Aggregate Demand

105 4.A

Introduction

105

4.H

Aggregate Demand and Aggregate Wealth

106

vii