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The Rational Consumer
The Consumers Preferences
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alternative amount analysis assets assume assumption Axiom beginning of period bonds brand budget constraint budget line bundles cent certainty line characteristics choice commodity competitive equilibrium composite commodity constant consumer's preference consumption set corner solutions decrease defined demand curve demand theory diminishing marginal utility dxjdM earnings Econ Economics elasticity of substitution equal example expected utility expected utility hypothesis Figure given hold hypothesis implies income effect increase indifference class indifference curve individual marginal rate market demand functions Pareto criterion Pareto optimum portfolio positive preference ordering probability prospects purchases quantities quasi-substitution effect rate of interest rate of substitution ratio reader risk-aversion Samuelson section T.3 short selling slope Slutzky equation state-preference straight line strictly convex substitution effect sumer Technical Appendix uncertainty utility function utility of money utility of wealth utility-of-wealth vector welfare economics xt and x2