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.
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!
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?
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.
Exactly the same way: the algebra will be different, obviously since the powers are different, but there will be no substantial difference on the approach you should follow.
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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.
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!
Thank you so much, you have no idea how much time you have saved us..Thank you for the hard work and detailed explanation
thx a lot! yours is the first to come up when I typed in "how to find core allocations". quite clear instruction!
I'm taking advanced microeconomics and Your videos are incredibly helpful, thank you
Your videos are incredibly helpful and cannot thank you enough!
Selçuk hocam harikasınız
So is it safe to say that squiggly line on 23:56 considered a competitive equilbrium?
agzina saglik selcuk abi, almanyadan selamlar
Sir , your lectures are so helpful. It will be really kind of you if you can record some more numerical problems.
I'm watching this with my girlfriend for her major and I don't know what the hell is happening
Respected Sir, this is a fantastic explanation on Pareto Efficiency.
Your lectures are the best 😭
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?
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.
How to do this question when you have different powers in the Cobb douglas function? such as 1/3 and 2/3
Exactly the same way: the algebra will be different, obviously since the powers are different, but there will be no substantial difference on the approach you should follow.
Harikasınız hocam teşekkürler
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?
what to do when both the consumers's MRS = 1. Please help.
what will do if min function x1 and 2x2
U r awesome thanx for this
tganks prof ;love
rounaq is tat you?
this is confusing