(M8E6) [Microeconomics] Finding Pareto Efficient Allocations and Contract Curve: Numerical Examples

In this episode I calculate the set of all Pareto efficient allocations in two standard examples.

[beomkomap]

He knows what questions his students are gonna ask so he encompasses everything in his every lesson which is amazing. I just keep my mouth shut and watch your video and ace my exam. Thumbs up!

[ulbricht]

You're the only one so far who could explain this in chunks of simple straightforward information. My teacher failed to explain how to determine the pareto efficient points with decent algebraic examples, he's just reading us the theory from the book, that's all he does; reading us without converting the theory into simple chunks of information. I'm going to recommend your channel to my classmates.

[anudarib]

Thank you so much, you have no idea how much time you have saved us..Thank you for the hard work and detailed explanation

[nukki]

I'm taking advanced microeconomics and Your videos are incredibly helpful, thank you

[ryuusuke_goto]

thx a lot! yours is the first to come up when I typed in "how to find core allocations". quite clear instruction!

[benwilson]

Your videos are incredibly helpful and cannot thank you enough!

[arkaprabhadas]

Sir, your lectures are so helpful. It will be really kind of you if you can record some more numerical problems.

[DeepDiveNFT]

Mr Ozyurt, what if you changed your header on white board to‘Hybrid Exchange Economy’ and used a denominator (USD) to increase tangency points assuming that MRSs could make every equation cancel out?

Assuming the allocation was appropriately priced prior to conducting a trade, theoretically, this type of transaction is most optimal?

I’m asking because I’ve recently started building a bartering platform that allows people to easily exchange items they are indifferent too e.g., otherwise would’ve donated or thrown out, but I’m beginning to think that it might have a larger use case than that. I’m very curious to hear your initial thoughts.

Ps. You’re a great teacher.

[dmr.]

agzina saglik selcuk abi, almanyadan selamlar

[thequiickbrownfox]

Respected Sir, this is a fantastic explanation on Pareto Efficiency.

[yakuparpac]

The second example contains two complements and has Pareto allocations in boundaries. I understood it well, thanks to you. But I wonder one thing: Can we say that except for the Cobb-Douglas pairs, all other types of utility pairs (substitute - substitute, complement-cobb douglas, substitute-cobb douglas) contain pareto optimal allocations in the boundaries of the edgeworth box?

[knightu]

So is it safe to say that squiggly line on 23:56 considered a competitive equilbrium?

[shreyamonga]

can you give an example of an improved set of (2, 1), (0, 2) in the first example. like how can this one be improved since it's not pareto efficient?

[ismaildemir]

How to do this question when you have different powers in the Cobb douglas function? such as 1/3 and 2/3

[rishabhmehta]

what to do when both the consumers's MRS = 1. Please help.

[zeynepergul]

what will do if min function x1 and 2x2

[cinnavocado]

I'm watching this with my girlfriend for her major and I don't know what the hell is happening