Consumer preferences - well-behaved + special cases

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The video starts with describing the properties of well-behaved preferences and how they translate into the shape of indifference curves:
- positive marginal utilities = "more is better" = "non-satiation" (= "monotonicity)
- diminishing MRS (= convexity).

Then a number of exceptions and special cases are described:
- 1:18 "neutral" goods: goods with zero marginal utility
- 2:32 satiation (or "non-monotonicity"): goods for which marginal utility becomes zero or negative past a certain point
- 5:23 perfect substitutes
- 6:45 perfect complements
- 8:54 increasing MRS ("non-convexity", or preference for extremes)
- 11:25 another "neutral" good
- 12:45 an economic "bad": marginal utility is always negative
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Professor, thank you for this lesson. I teach AP Micro and Macro, as well as behavioral econ to high school seniors and juniors, and this video has become a favorite with my students--first for the cool presentation technology, and then for the challenge of treating each new scenario of yours as a puzzle to be solved. We pause the video, and students work in pairs to predict the shape of each indifference curve/map. In my experience, indifference is NOT intuitive . . . until it is, with some expert guidance. Thanks again.

robertmichelson
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Good way of presentation.
Could you please mention the reference book from which you are teaching?

kedarsensahoo
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Can you explain indifference curve for two goods that provide utility only upto a certain level beyonf that level they provide no utility???

mytinywrld