Lecture 45(A): Lexicographic Preference

[@konstantinosbabalis1695]

Amazing videos! Do you plan on adding more videos to the channel?

[@yashbeekayainaat1433]

Absolutely amazing! Thank you, Sir.

[@ArizonaMathCamp]

Thanks for the enthusiastic comment! I hope the video was helpful.

[@Wishe_s]

Thank you so much, professor. You made this concept really clear and easy ❤

[@ArizonaMathCamp]

Great, I'm glad it was helpful.

[@yashuro1234]

i mean, i fail to understand the first exercise, anything to the right of x bar is the weak upper contour set, but why not top left? can't an increase in x_2 compensate for the lack of x_1, the same way the increase in x_1 compensates for the decrease in x_2 hence why its the upper contour weak set?

[@ArizonaMathCamp]

No, the whole idea of the lexicographic preference is that there's no "compensation" here. If bundle y has less of the first good than x does, then it's worse than x -- no matter how much more of the second good y has than x has. That's what the definition of the lexicographic preferences says. If you take away even a tiny amount of the first good, no amount of the second good will compensate for that.

[@lijieliu4262]

Thanks for helpful lectures!

[@ArizonaMathCamp]

I'm glad you found them useful. Thanks for the positive feedback.

[@angelobautista8315]

The video sound is pretty good, beyond my imagination

[@tuurvandevelde1013]

thank you so much!

[@ArizonaMathCamp]

You're welcome. I'm glad it was helpful.

[@hadidwindoro]

Thank you! very helpful!

[@ArizonaMathCamp]

Great! Glad it was helpful.

[@pushpanjalisahoo3167]

Tq so much sir

[@ArizonaMathCamp]

You're welcome.

[@РуфинаАникина-ь1п]

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