Preferences

Discusses economic assumptions about consumer preferences, indifference curves, and the marginal rate of substitution.

[mdsameedkhan]

Hi Katherine, you videos are just incredible! You explain everything in a really understandable manner. Can you please share the slides? That would be really helpful.

[supriyamutharasan]

Hi, Question here! I do not understand what is going on at 6:10. So when we are talking about the budget sets (emphasis on the budget set), if all the points in a line that connects two elements in the budget set, is also part of the budget set. Then the set is considered to be convex i.e. what happens in 4:09. However when we're talking abt indifference curves (if the line happens to be outside), then the indifference curve is said to be strictly convex. Can you please criticize my statement. Thank you so much

[SaranRavali]

very helpful to last minute revision of concepts before exams :D . Thank you

[supercat]

thank you very much for your presentation!!!! May i ask did you use draft while presenting it? it is just so smooth that I tried to speak this fast but I cant

[TA-cfke]

Oh my goodness I understand! THANK YOU!!

[ilkeuyankerstudent]

Thank you so much. But I have a question. When it says I like A twice as B, can we say it is complete? Because it is clear that it will prefer A to B?

[faziletates]

These videos are very helpful to study my intermediate microeconomics course but I would like to work on slides. How can I find them?

[ishika]

How do weak preferences work and how are they different from being indifferent? could you explain with an example?

[Anjalikpa]

Finally something useful for Thankeeww Soo much ❣️

[darrenjawara]

isn't any point above the indifference curve when both goods are "good" suppose to be strictly preferred?

[rd]

In my assignment my lecturer wrote the terms, "Standard preference' and "Non standard preference".
He's never mentioned these terms before and has only been through concepts like convexity.

What does he mean by these two terms?

Thanks alot for your help :)

[hassanulkarim]

thank you i hope to do well in my econ course inshAllah.

[georgesaye]

I am still struggling to understand indifferent curve and will need very step by step explaining please thanks

[ashishjain]

Thank you so much!! You made it clear and understandable.

[zahidullahmuhammadi]

where is next video i mean there should be ranking and relation with other video lectures for better understanding ??
thanks for explanation

[zahidullahmuhammadi]

actually i have came across a question related to preference which i couldnt solve,
the question is :
Let R be a weak preference relation defined over a consumption set X. Let P stand for the strict preference relation and I stand for the indifference relation, derived from R the usual way. suppose a consumer has a ranking over X={x, y, z} as xIy, yIz and xPz which of the following is true ?

(a) Consumer, s indifference relation I is Transitive
(b) Consumer, s strict preference relation P is transitive
(c) Consumer, s strict perefernce relation P is not transitive
(d) one cannot conclude anything about the transitivity

i hope you will give me reason for correct option
thank you sir

[peterbrians]

Presentation is a bit difficult to follow especially for a lay person. The presenter sounds like she is just reading rather than trying to help someone understand. I kept pausing and repeating because at some point I get lost as to which part of the slide the presenter is talking about.

[showtimelakers]

You give up half the unit of good two to get one unit of good one. Ughhh...slopes confuse me.

[mondaljis_cooking]

Thank you so much Katherine❤️, I literally read Preferences thrice from the book and still it wasn't clear🥺

[zahidullahmuhammadi]

thanks allot
i hope you give us your email for our questions