2.

BÖLÜM

TÜKETİCİ TERCİHLERİ
(Consumer Preferences)
 Amaçlarımız
 Tüketici tercihini açıklamak
 Fayda Kavramanı açıklamak
 Fiyat ve gelirin önemi
 Optimal davranış
 Tüketici dengesi

Anahtar kavramlar: Homo-economicus, fayda

fonksiyonu, farksızlık eğrileri, marjinal ikame
oranı, bütçe Kısıtı, tüketici dengesi, gelir ikame
etkisi, bireysel talep fonksiyonu
 İhtiyaç ve Tüketici Tercihleri /Kavramlar

 İhtitaç: Karşılandığında insanlara haz,

karşılanmadığında ise elem, ve doyumsuzluk
veren duygudur (açlık ve susuzluk gibi)
 Mal: İnsan ihtiyaçlarını karşılayan her türlü fiziki
varlık ve hizmetlerdir.
 Tüketici: Mal tüketerek ihtiyaçlarını karşılayan
kimsedir.
 Fayda: Malların ihtiyaçları giderme özelliğidir.
İktisadi Akılcılık ve Homo-Economicus

1. Tam bilgiye sahip olma,

2. Seçici olma,
3. Çoğu aza tercih etme,
4. Tercihler arasında tutarlı olma.
 Fayda Kavramı

 Malların ihtiyaçlarını giderme özelliğidir.

 Kardinal ve ordinal yaklaşım
 Fayda ölçülebilir [Jevons (1854) ve Walras
(1874)]
 Fayda ölçülemez [Edgeworth (1881),
Antonelli (1886), İrving Fisher (1892)]

Değer paradoksu?
Fayda Kavramı/TU and MU
 Fayda Fonksiyonu

 There are three steps involved in the

study of consumer behavior
1. Consumer Preferences
 To describe how and why people prefer
one good to another
2. Budget Constraints
 People have limited incomes
 Farksızlık Eğrileri (Indifference
Curves:An Example)
Market Basket Units of Food Units of Clothing

A 20 30

B 10 50

D 40 20

E 30 40

G 10 20

H 10 40
 Farksızlık Eğrileri (Indifference
Curves:An Example)

The consumer prefers

Clothing 50 B A to all combinations
in the yellow box, while
40 all those in the pink
H E box are preferred to A.

30 A

20 D
G
10

Food
10 20 30 40
 Farksızlık Eğrileri
(Indifference Curves:An Example)
•Indifferent
50 B between points B,
Clothing A, & D
H •E is preferred to
40 E points on U1
•Points on U1 are
A
30 preferred to H &
G
D
20
G U1
10

Food
10 20 30 40
 Farksızlık Eğrileri
(Indifference Curves)

 Farksızlık eğrisi üzerindeki her nokta, eşit

toplam fayda
 Mal düzleminin her noktasında farksızlık
eğrisi geçer
 Farksızlık eğrisi negatiftir

 Orjine dışbükeydir
 Farksızlık Eğrileri
(Indifference Curves)

Clothing
Market basket A
is preferred to B.
Market basket B is
D preferred to D.
B A
U3

U2

U1

Food
 Farksızlık Eğrileri
(Indifference Curves)
U1
U •B is preferred to D
Clothing
2 •A is indifferent to B & D
•B must be indifferent to D
but that can’t be if B is
preferred to D
A

B
U2
D
U1
Food
 Marjinal İkame Oranı
(Marginal Rate of Substitution)
A
Clothing 16

14 Observation: The amount

-6 of clothing given up for
12 1 unit of food decreases
from 6 to 1
10 B
1
8 -4
D
6 1
-2 E
4 1 -1
G
1
2
Food
1 2 3 4 5
 Marjinal İkame Oranı
(Marginal Rate of Substitution)
Clothing 16 A
MRS = 6
MRS   C
14 F
12
-6
10 B
1
8 -4 MRS = 2
D
6
1
-2 E
4 G
1 -1
2 1
Food
1 2 3 4 5
Azalan Marjinal İkame Oranı
(Marginal Rate of Substitution)

 MRS, kayıtsızlık eğrisi aşağı gittikçe

azalır
 Along an indifference curve there is a
diminishing marginal rate of substitution
(Azalan marjinal İkame eğrisi)
 The MRS went from 6 to 4 to 1
Marjinal Fayda ve Tüketici Tercihi
Marginal Utility and Consumer Choice

 Formally:

0  MUF(F)  MUC(C)
No change in total utility along an indifference curve.
Trade off of one good to the other leaves the consumer
just as well off.
Marginal Utility and Consumer
Choice

 Rearranging:

  C / F   MU F / MU C
Since
  C / F   MRS of F for C
We can say
MRS  MUF/MUC
Marginal Utility and Consumer
Choice

 When consumers maximize satisfaction:

MRS  PF /PC
Since the MRS is also equal to the ratio of the
marginal utility of consuming F and C

MU F /MU C  PF /PC
Marginal Utility and Consumer
Choice

 Rearranging, gives the equation for utility

maximization:

MU F / PF  MU C / PC
 Marjinal İkame Oranı
(Marginal Rate of Substitution)

 Two polar cases are of interest

 Perfect substitutes (MRS sabit)
 Perfect complements (MRS=0)
 Tüketici Tercihi/Kayıtsızlık Eğrisi
Apple
4
Juice
(glasses)
Mükemmel
3 İkame
(Perfect
2
Substitutes)

Orange Juice
0 1 2 3 4 (glasses)
 Tüketici Tercihi/Kayıtsızlık Eğrisi
Left Mükemmel Tamamlayıcı
Shoes (Perfect
4 Complements)

0 1 2 3 4 Right Shoes
 Tüketici Tercihi
( Consumer Preferences)

Styling
These consumers
place a greater
value on
performance than
styling

Performance
 Tüketici Tercihi
( Consumer Preferences

Styling
These consumers place
a greater value on
styling than
performance

Performance
Fayda (Utility)

 Utility function
 Formula that assigns a level of utility to
individual market baskets
 If the utility function is

U(F,C) = F + 2C
A market basket with 8 units of food and 3 units of
clothing gives a utility of
14 = 8 + 2(3)
Utility - Example
Market Food Clothing Utility
Basket

A 8 3 8 + 2(3) = 14

B 6 4 6 + 2(4) = 14

C 4 4 4 + 2(4) = 12

Consumer is indifferent between A & B and

prefers both to C
Utility - Example

 Baskets for each level of utility can be

plotted to get an indifference curve
 To find the indifference curve for a utility of
14, we can change the combinations of food
and clothing that give us a utility of 14
 Utility - Example
Clothing Basket U = FC
C 25 = 2.5(10)
15 A 25 = 5(5)
B 25 = 10(2.5)

C
10

A U3 = 100
5
B U2 = 50
U1 = 25
Food
0 5 10 15
Bütçe Doğrusu (The Budget Line)

 The budget line then can be written:

PF F  PC C  I

All income is allocated to food (F) and/or clothing (C)

Bütçe Doğrusu (The Budget Line)

 Different choices of food and clothing can

be calculated that use all income
 These choices can be graphed as the budget
line
 Example:
 Assume income of $80/week, PF = $1 and PC
= $2
Bütçe Kısıtı(Budget Constraints)

Market Food Clothing Income

Basket PF = $1 PC = $2 I = PFF + PCC

A 0 40 $80
B 20 30 $80
D 40 20 $80
E 60 10 $80
G 80 0 $80
 Bütçe Doğrusu (The Budget Line)
Clothing
A
(I/PC) = 40 C 1 PF
Slope   - -
B F 2 PC
30
10 D
20
20
E
10
G
Food
0 20 40 60 80 = (I/PF)
Bütçe Doğrusu (The Budget Line)

M  PX X  PY Y
M  PX X  PY Y
M PX
 X Y
PY PY
 Bütçe Doğrusu Değişimi
(The Budget Line – Changes)
Clothing
(units
per week) An increase in
income shifts
80 the budget line
outward

60

A decrease in
40 income shifts
the budget line
inward
20 L3
(I = L1 L2
$40) (I = $80) (I = $160)
Food
0 40 80 120 160 (units per week)
Fiyat Değişiminin Etkisi
(The Effects of Changes in Prices)

 The Effects of Changes in Prices

 If the price of one good decreases, the
budget line shifts outward, pivoting from the
other good’s intercept.
 If the price of food decreases and you buy
only food (x-intercept), then you can buy
more food. The x-intercept shifts out.
 If you buy only clothing (y-intercept), you can
buy the same amount. No change in y-
intercept.
 Fiyat Değişiminin Etkisi
(The Effects of Changes in Prices)
Clothing
(units
A decrease in the
per week)
price of food to
$.50 changes
the slope of the
budget line and
rotates it outward.
An increase in the
40 price of food to
$2.00 changes
the slope of the
budget line and
rotates it inward.
L3 L1 L2
(PF = 1) (PF = 1/2)
(PF = 2) Food
40 80 120 160 (units per week)
Fiyat Değişiminin Etkisi /Talep fonk
Tüketici Tercihi (Consumer Choice)

 Given preferences and budget

constraints, how do consumers choose
what to buy?
 Consumers choose a combination of
goods that will maximize their
satisfaction, given the limited budget
available to them
Tüketici Tercihi (Consumer Choice)

 The maximizing market basket must

satisfy two conditions:
1. It must be located on the budget line
 They spend all their income – more is better
2. It must give the consumer the most
preferred combination of goods and
services
Tüketici Tercihi (Consumer Choice)

 Graphically, we can see different

indifference curves of a consumer
choosing between clothing and food
 Remember that U3 > U2 > U1 for our
indifference curves
 Consumer wants to choose highest utility
within their budget
 Tüketici Tercihi (Consumer Choice)
Clothing
(units per
week)
•A, B, C on budget line
40 •D highest utility but not
affordable
A •C highest affordable utility
•Consumer chooses C
30 D

20 C

U3
U2
U1
B
0 20 40 80 Food (units per week)
Tüketici Tercihi (Consumer Choice)

 Consumer will choose highest

indifference curve on budget line
 In previous graph, point C is where the
indifference curve is just tangent to the
budget line
 Slope of the budget line equals the slope
of the indifference curve at this point
Tüketici Tercihi (Consumer Choice)

 Recall, the slope of an indifference curve

is:
C
MRS  
F
Further, the slope of the budget line is:

PF
Slope  
PC
Tüketici Tercihi (Consumer Choice)

 Therefore, it can be said at consumer’s

optimal consumption point,

PF
MRS 
PC
Px
MRS 
Py
Tüketici Tercihi (Consumer Choice)

 It can be said that satisfaction is

maximized when marginal rate of
substitution (of F and C) is equal to the
ratio of the prices (of F and C)
 Note this is ONLY true at the optimal
consumption point
Tüketici Tercihi (Consumer Choice)

 Optimal consumption point is where

marginal benefits equal marginal costs
 MB = MRS = benefit associated with
consumption of 1 more unit of food
 MC = cost of additional unit of food
 1 unit food = ½ unit clothing
 PF/PC
Tüketici Tercihi (Consumer Choice)

 If MRS ≠ PF/PC then individuals can

reallocate basket to increase utility
 If MRS > PF/PC
 Will increase food and decrease clothing until
MRS = PF/PC
 If MRS < PF/PC
 Will increase clothing and decrease food until
MRS = PF/PC
 Tüketici Tercihi (Consumer Choice)
Clothing
(units per
week) Point B does not
maximize satisfaction
40 because the
MRS = -10/10 = 1
is greater than the
B
30 price ratio = 1/2

-10C
20

+10F U1
0 20 40 80 Food (units per week)
Consumer Choice:
An Application Revisited

 Consider two groups of consumers, each

wishing to spend $10,000 on the styling
and performance of a car
 Each group has different preferences
 Consumer Choice:
An Application Revisited
Styling

$10,000 These consumers

want performance worth
$7000 and styling worth
$3000

$3,000

$7,000 $10,000 Performance

 Consumer Choice:
An Application Revisited
Styling
These consumers want
$10,000 styling worth $7000
and performance
worth $3000
$7,000

$3,000 $10,000 Performance

Gelir tüketim eğrisi/Engel Eğrisi
Gelir İkame (Hicks Yaklaşımı)
Figure 4-6: The Total Effect
of a Price Increase
Figure 4-7: The Substitution and Income
Effects of a Price Change