A.1 Utility function | Consumption - Microeconomics

Learn more: www.policonomics.com/utility/
Versión en español: • A.1 Función de utilida...
This video explains the very basics of consumer's preferences, and how to successfully build and understand a utility function. We start with basic rationality axioms, then we draw a utility function and lastly we introduce the concept of indifference curves.
Related videos:
-Utility maximisation: • A.6 Utility maximisati...
-Consumption duality: • A.8 Consumption dualit...
Related articles:
-Preferences: www.policonomics.com/preferences/
-Utility maximisation: www.policonomics.com/utility-m...
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[@ScienceSeeker]

I am just about ready to cry. I wish I would have found your clear explanations before I spent weeks of confusion in my microeconomics class trying to decipher my notes from class.

[@aryademehri2897]

Your videos are an absolute godsend. Your ability to crystallize what would be an entire chapter of a microeconomics textbook into a 5 minute video is nothing short of brilliant.

[@12332987]

It's pretty amazing to have the haedcore economic concepts in this very simplistic way.

[@Policonomics]

This week's featured video: Utility functions. This video explains the very basics of consumer's preferences, and how to successfully build and understand a utility function. We start with basic rationality axioms, then we draw a utility function and lastly we introduce the concept of indifference curves.

[@keshavkapoor4594]

That was a great video, pls keep on making such videos!

[@panaakhmetniyaz9066]

Very helpful thank you very much !!

[@Whatasimpleplan]

very helpful! :) Big thumbs up!

[@youngleo650]

great video, thank you!

[@estaykylyshbek8347]

Great video!

[@babykumari826]

Can you plzz state the main functions of utility in points it is very important

[@Ferdinaand]

this video is fantastic

[@CA-ff1fw]

@

[@esthelaa5028]

thank you so much.

[@willguxy]

I doubt about the correctness of the definition of "convexity". It should be the linear combination of A and C is greater or equal to B.

[@enriquesanzposse6197]

Very Helpfull!! I have a question, how do you arrive to a utility function, say a utility functio that describes the level of uitlity of every combination of apples and bananas?

[@bharathg97]

Please keep making more

[@niaguilar1994]

Which program are you using for this video?

[@duongduong2414]

Hello, do you still run the chanel?

[@felony077]

Are there any videos on game theory ? thanks !!

[@sitrakamatthieu]

Quasi concave ...wait ...it's French !!! Cocorico !! damn you use french words :')