Lec 2: Preferences and Utility Function

MIT 14.01 Principles of Microeconomics, Fall 2023
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F23
YouTube Playlist: https://www.youtube.com/playli....st?list=PLUl4u3cNGP6

In this lecture, Prof. Gruber talks about where consumer decisions come from, beginning with consumer preferences. He then builds on these concepts to explain the utility function, which is a mathematical expression of consumer preference. Keywords: micoreconomics, consumer demand, preferences, utility function

License: Creative Commons BY-NC-SA
More information at https://ocw.mit.edu/terms
More courses at https://ocw.mit.edu
Support OCW at http://ow.ly/a1If50zVRlQ

We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.