Микроэкономика - третий уровень - Бусыгин

. . , . . , . .
2003

- .
. . , . . , . . , 2003.
s s s s s s s s s s s s s s s s s s s s s s s s s s s s s
2 () .
2.1 , . . . . . . . . . . . . . . . . . . . . . .
2.2 . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.2.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.3.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.4 . . . . . . . . . . . . . . . . .
2.4.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.5 . . . . . . . . . . . . . . . . . . . .
2.5.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.A . . . . . .
2.A.1 . . . . . . . . . . . . . . . . . . . . .
2.A.2 . . . . . .
2.A.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.B . . . . . . . . . . . . . . . . .
2.B.1 , . . . . . . . . . . . . . . . .
2.B.2 , () . . . . . . .
2.B.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.C :
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
12
14
17
18
24
24
32
34
42
45
45
49
52
54
56
58
60
61
3
64
3.1 : . . . . . . . . . . . 64
3.1.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
3.1.2 , , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
3.1.3 . . . . . . . . . . . . . 73
3.1.4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80
3.2 . . . . . . . . . . . . . . . . . . 84
3.2.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90
3.3 . . . . . . . . . . . . 92
3.3.1 : . 92
3.3.2 . . . . . . . . . . . . . . . . . . . . . . . . 99
3.3.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105
3.A . . . . . . . . . . . . . . . . . 109
3.B . . . . . . . . . . . 110
3.B.1 . . . . . . . . . . . . . . . . 112
3.B.2 . . . . . . . . . . . . . . . . . . . . . . . . 112
3.B.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116
1
2
3.C : . .
3.C.1 . . . . . . . . . . . . . . . .
3.C.2 . . . . . . . . .
3.C.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.C.4 () . . . . . . . . . . . . . . . .
3.C.5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.D . . . . . . . . . . . . . . . . . . . . . .
3.5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
4.1 . . . . .
4.1.1 . . . . . . . . . . . . . . . . . . . . . .
4.2 . . . . . . . . .
4.2.1 . . . . . . . . . . . . . . . . . . . . . .
4.3 . . . .
4.3.1 . . . . . . . . . . . . . . . . . . . . . .
4.4 . . . . . . . . . . . . . . . . . .
4.4.1 . . . . . . . . .
4.4.2 . . . . . . . . . . . . . . .
4.4.3
4.4.4 . . . . . . . . . . . . . . . . . . . . . .
4.5 . . . . . . . . . . . . .
4.5.1 . . . . . . . . . . . . . . . . . . . . . .
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117
117
120
123
125
128
129
130
132
132
138
139
145
147
152
153
153
154
157
158
159
160
5 () .
162
5.1 . . . . . . . . . . . . . . . 162
5.2 ( ) . . . . . . . . . . . . . . . . . . . . . 164
5.2.1 . . . . . . . . . . . . . 164
5.2.2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 167
5.2.3 . . . . . . . . . . . . . . . . . . . . 171
5.2.4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172
5.2.5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 173
5.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . 175
5.3.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180
5.4 - . . . . . . . . . . 181
5.4.1
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 182
5.4.2 . . . . . . . . . . . . 185
5.4.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 186
5.5 -. . . . . . . . . . . 187
5.5.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 196
5.A . . . . . . . . . . . . . . . . . . . 202
5.A.1 . . . . . . . . . . . . . . . . 202
5.A.2 . . . . . . . . . . . 206
5.2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 212
6
216
6.1 - . . . . . . . . . . . . . . . . . . . 218
6.2 . . . . . . . . . . . . . . . . . . . . . . . 224
3
6.2.1
6.3
6.4
6.5
6.6
: , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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6.3.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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7
7.1 .
7.2 :
7.2.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.3 . . . .
7.3.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.4 . . . . . . . . . . . . . . . . . . . .
7.4.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.5 ( ) . . . . . . .
7.5.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.6 .
7.6.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.7 : CAPM . . . . . . . . . . . . .
7.7.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
227
229
230
231
232
233
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235
. 236
. 241
. 247
. 247
. 251
. 253
. 255
. 256
. 260
. 262
. 267
. 269
. 284
. 286
8
8.1 . . . . . . . . . . . . . . . . .
8.2 . . . . . . . . . .
8.3
8.3.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.4 . . . . . . . . . . . . . . . . . .
8.4.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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288
288
289
290
296
297
311
312
9
9.1 ,
9.2 . . . . . . . . . .
9.2.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.3 () . . . . . .
9.3.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.4 . . . . . . . . . . . . . . .
9.4.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.5 . . . .
9.5.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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314
314
315
319
320
323
324
328
330
335
10
10.1 .
10.2 . . . . . . . . .
10.2.1 . . . . . . . . . . . . . .
10.3
10.3.1 . . . . . . . . . . . . . .
10.4
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337
337
338
341
341
349
350
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4
10.5 . . . . . . . .
10.5.1 . . . . . . . . . . . . . . . . . . . . . .
10.6 . . . . . . . . . . . . . . . . . . .
10.6.1 . . . . . . . . . . . . . . . . . . . . . .
10.7
10.7.1 . . . . . . . . . . . . . . . . . . . . . .
10.8 . . . . . .
10.8.1 . . . . . . . . . . . . . . . . . . . . . .
10.9 . . . . . . . . . . . . . . . . . . . . .
10.9.1 . . . . . . . . . . . . . . . . . . . . . .
10.10 . . .
10.10.1 . . . . . . . . . . . . . . . . . . . . . .
10.11 . . . . . . . . . . . . . . . . . . . . . .
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11
11.1 . . . . . . . . .
11.1.1 . . . . . . . . . . . . . . . . . . . . . . .
11.2
11.2.1 . . . . . . . . . . . . . . . . . . . . . . .
11.3 . . . .
11.3.1 . . . . . . . . . . . . . . . . . . . . . . .
11.4 () . . . . . . . .
11.4.1 . . . . . . . . . . . . . . . . . . . . . . .
11.5 : . . . .
11.5.1 . . . . . . . . . . . . . . . . . . . . . . .
11.6 . . . . . . . . . .
11.7 . . . . . . . .
11.7.1 . . . . . . . . . . . . . . . . . . . . . . .
11.8 . . . . . . . . . . . . . . . .
11.8.1 . . . . . . . . . . . . . . . . . . . . . . .
11.9 . . . . . . . . . . . . . . . . . . . . . . .
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352
357
358
364
364
367
368
375
376
383
383
386
387
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389
. 391
. 393
. 393
. 395
. 395
. 405
. 408
. 414
. 415
. 417
. 417
. 422
. 423
. 424
. 433
. 434
12
437
12.1 . . . . . . . . . . 437
12.1.1 . . . . . . . . . . . . . . 438
12.1.2 . . . . . . . . . . . . . . . 440
12.1.3 . . . . . . . . . . . . . . . 442
12.1.4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 444
12.2 . . . . . . . . . . . . . . . . . . . . 445
12.2.1 : . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 445
12.2.2 : . . . . . . . . . . . . . . . . . . 446
12.2.3 . . . . . . . . . . . . . . . . . . . 453
12.2.4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 457
12.A . . . . . . . . . 459
13
13.1 . . . . . . . . . . . .
13.1.1 . . . . . . .
13.1.2 . . . . . . . . . . . . . .
13.1.3
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463
. 463
. 465
. 469
. 470
5
13.1.4 . . . . . . . . . .
13.1.5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13.2 . . . . . . . . . . . . . . . . . . . . . . . . .
13.2.1 . .
13.2.2 ( )
13.2.3 3- : . . .
13.2.4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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474
475
476
477
484
496
501
14
503
14.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 504
14.1.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 505
14.1.2 . . 508
14.1.3 . . . . . . . . . . . . . . . . . . . . . . 517
14.1.4 . . . . . . . . . . . . . . . . . 518
14.1.5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 521
14.2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 523
14.2.1 . . . . . . . . . . . . . . . . . . . 525
14.2.2 . . . . . . . . . . . . . . . . 526
14.2.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 530
14.2.4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 530
14.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 530
14.3.1 . . . . 531
14.3.2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 531
14.3.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 534
14.3.4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 537
14.4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 537
14.4.1 . . . . . . . . . . . 540
14.4.2 . . . . . . . . 542
14.4.3 ( )548
14.4.4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 550
14.5 . . . . . . . . . . . . . . . . . . . . . . 550
14.5.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 551
15
552
15.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 552
15.1.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 558
15.2 . . . . . . . . . . . . . . . . . . . . . . . . 558
15.2.1 . . . . . . . . . . . . . . . . . . . . 559
15.2.2 . . . . . . . . . . . 564
15.2.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 574
15.3 . . . . . . . . . . . . . . . . . . . . . . . . 580
15.3.1 : . . . . . . . 581
15.3.2 : . . . . . . . . . . . . . . . . . . . . . . . . . 595
15.3.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 599
15.4 . . . . . . . . 601
15.4.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 605
15.4.2 ( ) . . . . . . . . 607
6
15.4.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 621
16 :
16.1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.2 . . . . . . . . . . . . . . . . . .
16.2.1 . . . . . . . . . . . . . . . . . . . . . . . .
16.2.2 . . . . . . . . . . . . . . . . . . . . . . .
16.2.3
16.2.4 . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.2.5 . . . . . . . . . . . . .
16.3 . . . . . . . . . . . . .
16.4 . . . . . . . . . . . .
16.5 . . . . . . . . . . . . . . . . .
16.6 . . . . . . . . . . . . . . . . . . . . . . .
16.7 - . . . . . . . . . . . . . . . . . . . . . . . .
16.7.1 . . . . . . . . . . . . . . .
16.7.2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17
17.1 . . . . . . . . . . . . . . . . .
17.2 . . . . . . . . . . . . . . . . . . . . . . . . . .
17.3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17.4 . . . . . . . . . . . . . . . . . . . . .
17.5 . . . . . . . . . . . . . . . . . . . . . . . . . .
17.6 . . . . . . . . . . . . . . . . . . . . . . . . .
17.7 . . . . .
17.8
17.9 . . . . . . . . . . . . . . . . . . . . . . . .
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623
623
624
624
626
631
633
636
646
656
663
669
676
677
680
.
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683
. 683
. 686
. 686
. 686
. 686
. 687
. 687
. 689
. 690

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Hal Varian, Microeconomic Analysis;
Andreu Mas-Colell, Michael D. Whinston, Jerry R. Green, Microeconomic theory;
David M. Kreps, A Course in Microeconomic Theory.

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A).
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1 .

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12
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2
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. .). , , . . ,
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3
G. Debreu: Theory of Value: An Axiomatic Analysis of Economic Equilibrium, John Wiley & Sons, 1959 (Cowles
Foundation Monograph No. 17).
2.1. ,
13
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4 . .
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, / 5 .
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, )6 .
,
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7 .
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k . , . ,

x1
.
l
x = ..
R,
xl
k - k . , ,
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, . , , , ;
xk > 0 , (24
) .
( ) X Rl / .
, X , . . , x X x > x
. . 3
x
, , X ,
, x
, . . x
x
. , , X 0 X .
x>x
X , , ,
.
, . ,
4
, search goods??.
. P. Nelson: Information and Consumer Behavior, Journal of
Political Economy 78 (1970): 311329 M. R. Darby and E. Karni: Free Competition and the Optimal Amount
of Fraud, Journal of Law and Economics 16 (1973): 6788.
5
experience goods.
6
credence goods.
7
, ( ) .
, , . . (K. J. Lancaster: A New Approach to Consumer Theory, Journal of Political
Economy 74 (1966): 132157)
, .
2.2.
14
, , . 24 .
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).
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, --. , : (), (), (), (, ) . , x

R y x R y , , x y , x y {, , }. R ,
9 h, i, h, i,
h, i . , () R, , , ,
{, , }.
.
1:
X . X , X X , hx, yi, x, y X . R,
X , ,
X X , . . R X X .
8
. . :
, .: , 1985, . 1, 3 . 2, 4.
9
, ha, bi hb, ai .
2.2.
15

hx, yi, x y X .
(. . 2.1).
x2
x1
X
. 2.1. R, X
, hx, yi R, hx, yi R x R y , x R
y.
,
10 .
2:
R
, x X x R x
11 , x R x x X (. . x X (x R
x));
, x, y X x R y y R x;
, x, y X x R y , y R x ;
, x, y, z X
(x R y y R z) x R z;
, x, y, z X
( (x R y) (y R z)) (x R z);
, x, y X x R y , y R x, .
.
10
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11
2.2.
16
1:
X , , R , X . ,
.
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, . ., , 175 175. ,
.
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a , b (h(a) > h(b)). , (h(b) > h(a)),
, b R a. , a b
.
, . X
a, b, c, h(a), h(b) h(c) ,
: h(a) > h(b) h(b) > h(c). ,
, h(a) > h(c). , a R c ,
, R.
,
. ,
, .
, ,
. X
, X , . 4
2:
X = R2+ R (x1 , x2 ) R (y1 , y2 )
x1 + y2 > y1 + x2 . , , , x1 + y2 > y1 + x2 x1 x2 > y1 y2 , . .
(x1 , x2 ) R (y1 , y2 ) x1 x2 > y1 y2 . ,
, > , . . ,
, . ( / / .)
4
:
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/.
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, R
. , ,
.
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1:
.
.
2.2.
17
.
R ,
x, y, z X x R y x R z z R y .
: . .
, . . R , , . x, y X , x R y y R x.
R , x R y y R x x R x.
.

3 ( 1):
. .
X a, b, c, h(a), h(b)
h(c) , h(a) > h(b). , h(c),
h(a) > h(c) h(c) > h(b).
, , R .
4
, ,
.
2.2.1
/ 1. , , ,
. , ?
/ 2. X . :
,
,
,
,

, X :
(a) ;
(b) ;
(c) , ;
(d) ( );
(e) ( );
(f) ;
(g) .
/ 3. X . :
(a) ( , );
(b) ( , );
(c) , . . . ;
(d) , . . . ?
2.3.
18
/ 4. (, , , , , , ) R, R2++ :
(a) (x1 , x2 ) R (y1 , y2 ) xx12 > yy21 ;
(b) (x1 , x2 ) R (y1 , y2 ) xy11 > xy22 ;
(c) (x1 , x2 ) R (y1 , y2 ) (x1 x2 )(y1 y2 ) > 0;
(d) (x1 , x2 ) R (y1 , y2 ) x1 x2 > y1 y2 ;
(e) (x1 , x2 ) R (y1 , y2 ) min{x1 + x2 , y1 + y2 } > 0;
(f) (x1 , x2 ) R (y1 , y2 ) min{x1 , x2 } > min{y1 , y2 }?
, , ,
, , .
/ 5. , R2++ , :
x RL y (x1 > y1 (x1 = y1 x2 > y2 )).
(, , , , , , ) ?
/ 6. , , .
/ 7. , , .
/ 8. , .
/ 9. , .
/ 10. , .
/ 11. , A B : ( A B) (B A). , ,
R , x, y, z X
x R y (x R z z R y).
/ 12. (. . ( A B) (B
A)), , R
x, y, z X : x R y (x R z z R y)
.
2.3
,
.
12 .
()
, X :
1 . , x y , , x , y , x y ;
1 <. ,
x y , , x ,
y , x < y ;
12
,
R. Frisch: Sur un probl`eme deconomie pure, Norsk Matematisk Forenings Skrifter, Serie 1 16 (1926): 140??
2.3.
19
1 () . ,
x y , , x
y , x y .
3:
h, <, i ,
:
? ( x y , y
x) ( , x y ,
, y z, , x z);
? < ( , x y , x
y , y x) ( x y , y z, x
z);
? ( x y , y x),
( ) ( x
y , y z, x z);
? :
x < y , , y x,
(P1)
(, , x y , , y < x)
x y , x y, y x ,
(P2)
x y , x < y y < x.
(P3)
, , ,
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( ).

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h, <, i , ,
, .
, (P1) (P3),
. , . ,
(P1) (P2),
.
, 13 .

, .
2:
(1) < (P1).

(a) <;
(b) <.
13
, , , . , < = X X , ..
.
2.3.
20
(2) (P2).
(a) ;
(b) , ;
(c) , .
(3) < (P3).
(a) ;
(b) < , ;
(c) < , .
: (1a) < : x < y , y < x. < (P1), :
(x < y) y < x
x y (y x).
<, .
(1b) , < (P1),
( (x z) (z y)) (x y)
<:
(z < x y < z) y < x.
(2a) (P2) x y , y x
x y y x.
(2b) x y y z. (P2) , (x y), (y x), (y z)
(z y). , (x z)
(z x). , (P2), x z.
(2c) , x x . (P2) x x.
(3) , (2).

. , .
3:
(i) ( ) , < (P1),

(P2). < , , , (P3).
(ii) < ( ) ,
(P1),
(P3). ,
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2.3.
21
). , . (
). ,
.
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, . . x < y (y x).
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.
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.
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x < y (x y x y).
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).
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3.
4:
h, <, i X . :
(1) ( x y , y z, x
z) ( ).
(2) < ( )
.
(3) x, y X :
x y, y x, x y.
(4) x, y X x < y , x y
x y.
(5) x, y X x y , x < y ,
y < x .
2.3.
22
(6) x, y, z X
(a)
(b)
(c)
(d)
(e)
(f)
(x y y z) x z;
(x y y z) x z;
(x < y y z) x < z;
(x y y < z) x < z;
(x < y y z) x z;
(x y y < z) x z.
: .
.
(1) . . x, y, z X
, x y , y z, (x z). y z
(z y ). (x z) (z y ) ,
(x y ). .
.
(3) , x y y x
. (P2) , x y , y x
x y . ,
.
(4) (3) , x y x y
, (y x). (P1) (y x) x < y .
(6) x y y z. (P2) y z , (z y ).
, . . (x z). (x z) (z y ) (x y ). .
,
. ,
.
4:
x X
14 , x:
I(x) = { y X y x } ;
,
x:
L+ (x) = { y X y < x } ;
,
x:
L (x) = { y X x < y } .
:
5:
I() L+ () .
:
14
, , .
2.3.
23
(i) I(x), I(y) ,

, .
(ii) L+ (x), L+ (y) , L+ (x)
L+ (y), L+ (y) L+ (x).
L+ () X X , , ,
: x < y
, x L+ (y), (P1) (P3) (. .
x y , y
/ L+ (x) x y , x L+ (y) y L+ (x)).
, < .
, , ( ). X .
, I I 0 , I I 0 , I 0 I , . X
: x x0 , I I 0 , x I , x0 I 0 .
, , ,
15 .
, , . ()
X , .
5:
A (A 2X ). ( ) C()
A A (A 6= ) C(A)
, A, . . C(A) A.
, , C(A) :
6:
h, <, i
:
1. C(A) = C< (A) = { x y A x < y }.
2. C(A) = C (A) = { x @y A : y x }.
, A x, y
A x. . .
x C(A) y A x < y.
x C(A) y x y
/ A.
, ,
. , x y ,
C({x, y}) = {x}, x y , C({x, y}){x, = y}. ,
.
15
, , (. 17).
2.4.
2.3.1
24
/ 13.
, ,
5 , 0 1?
/ 14. . ?
/ 15. < ( ), X , (x y (x < y) (y < x)) (x y (x < y) (y < x))
, .
?
/ 16. X = R+ , x y x > y , x < y x > y x y x = y . ,
h, <, i .
, (X = Rn+ n > 2) .
/ 17. () , x, y X
: x y, y x, x y .
/ 18. () , x, y, z X , x < y y z, x < z. , , ?
/ 19. () < x y (y < x).
/ 20. 4.
/ 21. h, <, i .
() , . , ,
? ?
/ 22. 5.
/ 23. , , .
/ 24. ,
x y (x < y, y < x),
(. 6) ,
C (A) = C< (A) A A.
2.4
, 16
16
()
(1748-1832): . . . ()
. . . . -
- - . (. . .
2.4.
25
. , X , 17 .
, . ,
.
7:
, u() : X 7 R , h, <, i ( , ),
x, y X x < y
, u(x) > u(y).
: ,
u(), f (u()), f () (. 30). . .
, , ,
, , , .
, , , , , , ,
. . (. ).
, ( , ) , .
, .
, , 7 ,
, . (. 2.B)
, .
" . . . . ., 1895."
. // : 5 . TI ., 1997
. . - .: , 1998. - 415 . - ( . ).
. . , .
. . 5. , 1896) ??J. Bentham: An Introduction to the Principles of
Morals and Legislation, London: T. Payne, 1789
17
?? . . (. 4 . 66), , ,
, . (W. S. Jevons:
The Theory of Political Economy, London: Macmillan, 1871)
. ?? ?? (F. Y. Edgeworth:
Mathematical Psychics: An Essay on the Application of Mathematics to the Moral Sciences, London: C. Kegan Paul
& Co., 1881) , . ,
.
,
(V. Pareto: Manuel deconomie politique, Paris: V. Giard et E. Bri`ere, 1909).
. H. S. Houthakker: The Present State of Consumption Theory, Econometrica 29 (1961): 704740 G. Stigler: The Development of Utility Theory, Journal of
Political Economy 58 (1950): 307327, 373396.
2.4.
26
< = ( ). x, y X , x y , x y , x y 18 , , <,
:
x y, x < y (y < x);
(P4)
x y, x < y y < x.
(P5)
.
6:
, h, <, i, X , .
: >, ( R), , < X
. , , (P5) (P3), (P4) < (P1). , (ii) 3
.

, , ,
, u(), ,
x, y X x y , u(x) > u(y).
( , , )
, .
, (, ),
, , . ( , ,
.)
7:
X ,
X .
: X , xi , i = 1, 2, . . ..
.
N . xN +1 .
AN = {x1 , . . . , xN }:
AN
+ =
x AN x < xN +1
AN
=
x AN xN +1 < x .
AN
x AN
x
+ , x < x
+ .
.
AN
< x x AN
(
x
, x
. x
N
( AN
A+ ) x
)
<. 19 .
4 :
18
, ,
( x < x ).
19
. 34. . 15.
2.4.
27
N +1 ) = u(
AN
x) + 1.
+ = . u(x
N +1 ) = u(
AN
x) 1.
= . u(x
N
N
N
N +1 ) = (u(
AN
x) + u(
x))/2.
+ 6= , A 6= , A+ A = . u(x
N
N
N
N +1 ) = u(x), x
AN
+ 6= , A 6= , A+ A 6= . u(x
N
N
A+ A (
N
AN
+ A ).
, A1 = {x1 } u(x1 ) = 0. ,

x < y u(x) > u(y)
x, y AN N (. 35).
u() .

,
. ,
R2+ .
4:
, . (X = R2+ )
, , ,
. , x
y (x L y ), x1 > y1 x1 = y1 x2 > y2 . L .
. .
. , . . ( ),
x L y uL (x1 , x2 ) > uL (y1 , y2 ).
x1
r(x1 ), uL (x1 , 2) > r(x1 ) > uL (x1 , 1). r(x1 ) , .
x1 , x01 > 0 , x1 > x01 , uL (x1 , 1) > uL (x01 , 2). , uL (x1 , 2) > r(x1 ) > uL (x1 , 1)
uL (x01 , 2) > r(x01 ) > uL (x01 , 1).
r(x1 ) > uL (x1 , 1) > uL (x01 , 2) > r(x01 ).
, , x1 > x01 , r(x1 ) > r(x01 ). r() . ( ), (. . ). ,

. , , , , ,
, . 4
, , , , ,
. , , 20 , ,
20
G. Debreu: Representation of a Preference Ordering by a Numerical Function, in Decision Processes,

R. M. Thrall et al. (ed.), New York: John Wiley & Sons, 1954.
2.4.
28
. . , .
8:
h, <, i X Rl , ,
{xn }, {yn } (xn , yn X ),
xn < yn n, x = limn xn y = limn yn
(x, y X ), x < y .
21
8:
h, <, i X Rl . :
(1) 8;
(2) x X L+ (x) = { y X x < y }, L (x) =
{ y X x 4 y } ( Rl ).
(3) x y (x, y X ), - Vx Vy x y , x0 Vx X y0 Vy X x0 y0 .
: 1 2 3 1.
(1) (2) x X
{yn }, L+ (x). y 22 . L+ (x) n x < yn . ,
, x < y , . . y L+ (x). .
(2) (3) , , L+ (x) , ,
Rl , Rl \L+ (x), . , L (x) ,
, Rl \L (x) .
x y . .
(a) z X , x z y . x
Rl \L (z) - , Vx , Rl \L (z).
, y Rl \L+ (z) Vy .
(b) z X , x z y . x Rl \L (y)
Vx , y Rl \L+ (x) Vy .
, (a), (b)
x0 Vx X y0 Vy X x0 y0 (. 41).
21
, , X Rl . , ,
. , X ( X ):
x X L+ (x) , L (x) X (
(2) 8);
x X L++ (x) = { y X x y } , L-- (x) = { y X x y }
X ( );
X X ( (3) 8);
< X X (
).
, .
22
, , X y X .
2.4.
29
(3) (1) {xn },

{yn }, xn < yn n. y x, x = limn xn , y = limn yn ,
x, y Vx Vy ,
x0 Vx y0 Vy y0 x0 . , n
yn xn , xn < yn . , , x < y .

: ,
. ,
23 .
5 ( 4):
R2+ x R2+ L+ (x)
L (x) , . <L L
. ,
x <L y ((x1 > y1 ) (x1 = y1 x2 > y2 )).
x2
L+ (x)
x1
. 2.2.
. 2.2 . , L+ (x) , , , , . ( L (x).)
4
.
, .
9:
X Rl .
: , . , , .
24 , .
Rl . ,
. {On }+
n=1
23
, ()
().
24
, .
, . . J. T. Rader: The Existence of a Utility Function to Represent
Preferences, Review of Economic Studies 30 (1963): 229232.
2.4.
30
:
X . L-- (x) X ,
x, . . L-- (x) = { y X | x y }.
On , x: N (x) = { n | On L-- (x) }.
S
S
, nN (x) On = L-- (x). nN (x) On L-- (x) ,
n N (x) On L-- (x).
S
L-- (x) nN (x) On . y L-- (x).
Rl \L+ (x) ( L+ (x) ), y (
L-- (x) Rl \L+ (x)). , y . , On ,
S
y . , y nN (x) On .
, x X
u(x) =
1
.
n
2
nN (x)
X
, N (x) = , u(x) = 0.
, u()
.
x < y . L-- (y) L-- (x), N (y) N (x) , , u(x) > u(y).
u(x) > u(y). , x < y , . . y x.
L-- (x) L-- (y), L-- (x) 6= L-- (y). , N (x) N (y)
N (x) 6= N (y), , u(), u(x) < u(y).
u(x) > u(y). , , u(x) > u(y) x < y . ,
u(), .
x2
L+
i (x)
x1
. 2.3. .
(.
. 2.3). ,
.
.
,
, . . .
2.4.
31
9:
X , x, y X x > y x < y .
10:
, x > y x 6= y x y .
, .
10:
, X = Rl+
, .
: , x Rl+
u(x), x u(x)1l, 1l l - , . (. 2.4 .)
x2
x
u(x)1l
x1
. 2.4.
, u(x) .
x U = { u1l u R+ }, , .
x , U :
U + (x) = { u R+ u1l < x } ,
, U :
U (x) = { u R+ x < u1l } .
, , 0 U (x)
maxk {xk } U + (x).
U + (x) U (x), ,
u1 U (x) u2 U + (x) u1 6 u2 .
u+ = inf U + (x) u = sup U (x). ,
U (x) U + (x) .
u+ U + (x) u U (x). u+ > u . , u+ = u . .
u0 , u < u0 < u+ . u0
/ U (x) u0
/ U + (x).
,
u0 1l < x, u0 1l 4 x.
u = u+ = u x u1l .
u(x) . x1 < x2 .
x1 u(x1 )1l x2 u(x2 )1l. , x1 < x2 ,
2.4.
32
u(x1 )1l < u(x2 )1l. u(x1 )1l < u(x2 )1l
, u(x1 ) > u(x2 ).
u(x) . x1 > x2 x1 6= x2 .
x1 x2 . , u(x1 )1l u(x2 )1l.
u(x1 ) > u(x2 ).
u(). {xn }
n=1 , limn xn = x. ,
limn u(xn ) = u(x).
> 0. u u
, y ,
ky xk 6 ,
u1l 6 y 6 u
1l.
(, u = mink xk u
= maxk xk +.)
y , ky xk 6 , u 6 u(y) 6 u
,
max{u, 0}1l 4 y 4 u
1l, u(a1l) = a a > 0.
N , {xn } n > N
kxn xk 6 . u(xn ) N [u, u
].
{u(xn )} N ], . ,
[u, u
, u(x).
, {u(xnk )}
k=1 {u(xn )} u(x). , ,
u 6= u(x). , , u > u(x).
u
, u > u
> u(x). ,
u
1l u(x)1l. {u(xnk )}
k=1 u , M , k > M
u(xnk ) > u
. xnk u(xnk )1l , ,
u(xnk )1l u
1l ( k > M ), . . xnk u(xnk )1l u
1l.
, x u(y). ,
? .
/ 26. 4 X = {a, b, c, d}.
: < = {(a, a), (b, b),
(c, c), (d, d), (a, d), (b, d), (d, c), (b, a), (a, c), (b, c)}. ,
? , ? , .
2.1.
a
b
c
b

a
b
c
d

/ 27. 2.1 , , < = . .

/ 28. X n- ,
: x < y ,
x y . ,
?
/ 29. , R2++ :
(a) (x1 , x2 ) < (y1 , y2 ) (x1 x2 )(y1 y2 ) > 0;
(b) (x1 , x2 ) < (y1 , y2 ) xy11 > xy22 ;
(c) (x1 , x2 ) < (y1 , y2 ) x1 x2 > y1 y2 ;
(d) (x1 , x2 ) < (y1 , y2 ) min{x1 + x2 , y1 + y2 } > 0;
(e) (x1 , x2 ) < (y1 , y2 ) min{x1 , x2 } min{y1 , y2 } > 0;
(f) (x1 , x2 ) < (y1 , y2 ) x1 x2 > min{y1 , y2 }.
? .
/ 30. , , , ,
. , ,
.
/ 31. , ,
R+ ?
(a) f (x) = x2 ; (b) f (x) = x3 + x; (c) f (x) = x; (d) f (x) = ex .

/ 32. , u() u
() ,
, f (), u
() u() f ().
/ 33. X , ( ), X
?
(a) X = { x Rn | xi };
(b) X = { x Rn | 0 6 xi 6 1 };
(c) X = Rn ;
(d) X = Rn+ ;
2.5.
34
(e) X = { x Rn | xi
};
(f) X = { x Rn | xi = a 2 + b 3, a b }.
/ 34. ,
, (),
() . ( 7.)
/ 35. 7 , ,
.
/ 36. ,
, , .
/ 37. X = X1 X2 , X1 = {1, 2, . . .}, X2
0 1. X . ,
, .
.
/ 38. ,
:
x2 x ,
1 2
u(x1 , x2 ) =
x2 x2 + 15,
1
x1 + x2 6 1,
.
, . ? ? , , , , .
/ 39. , R2+ , {xn }, {yn }, 8.
/ 40. , u(x) , , , .
/ 41. 8, , Vx
Vy , , x0 Vx X y0 Vy X x0 y0 .
/ 42. X , x, y X x y . , z X , x z y .
/ 43. , ,
.
2.5
,
, , 26 .
.
, .
, , , .
26
, . . 66 . 5.
2.5.
35
, .
11:
,
X , x
x.
x X x
, :
c , . . ,
(. . 2.5);
x2
x1
. 2.5. ()
,
, (. . 2.6).
x2
x1
. 2.6.
, ,
. , .
, , .
. 2.7 . x
,
. ,
2.5.
x2
36
x2
x1

x1

. 2.7.
, , .
, , / .
, X .
12:
, x, y X : x < y 0 6 6 1
x + (1 )y < y .
, x, y X : x < y , x 6= y 0 < < 1
x + (1 )y y .
x2
x0
L+ (x)
x00
x
x1
. 2.8.
, L+ (x) x. . 2.8 x0 , x00 L+ (x).
, x0 x00 L+ (x).
. , . ,
,
, (, , ) . . 2.9 ,
.
, , . ,
.
2.5.
37
x2
x1
. 2.9. ,
11:
, .
:
.

. , , . , ,
.
( ) , 27 .
, , .
, ,
( ), . , , , , .
(.
??):
.
.
.
. , .
?? u() ,
( ) H(x) , . . z | H(x)z 6 0 z.
, u : X R , H(x)
u(x)z = 0, x
X . , z, u(x)z = 0 z | H(x)(x)z 6 0,
x X .
27
, .
2.5.
38
, , , , . (,
.) , x , y 4 ( y > 0) x2 ,
, ( x > 0).
,
(, x2 4 y x).
, , ,
,
p . , . ,
f (x1 , x2 ) = (x1 1) + (1 x1 )2 + 4(x1 + x2 ) . . ,
. ,
. , , .
, .
6:
u(x) = x1 x2 , R2+ . ,
, .
1 ( )
x, y R2+ . 0 6 6 1
(x1 + (1 )y1 )(x2 + (1 )y2 ) =
= 2 x1 x2 + (1 )2 y1 y2 + (1 )x1 y2 + (1 )x2 y1

, y1 y2 > x1 x2 . x
q
0, xy11 + xy22 > 2 xy11 xy22 > 2, x1 y2 + x2 y1 > 2x1 x2 . ,
x 0, . , x, y R2+
, y1 y2 > x1 x2 , x1 y2 + x2 y1 > 2x1 x2 . ,
2 x1 x2 + (1 )2 y1 y2 + (1 )x1 y2 + (1 )x2 y1 >
> (2 + (1 )2 + 2(1 ))x1 x2 = x1 x2 = min{x1 x2 , y1 y2 }.
, x1 x2 .
, . x = (1, 1),
y = (2, 2) = 21 . u(x + (1 )y) = 94 u(x) + (1 )u(y) = 52 . 52 > 49 ,
.
2 ( )
, H(x) u(x) =
x1 x2
!
0 1
H(x) =
.
1 0
. ,
z | = (1, 1) z | Hz = 2 > 0. , .
, . , z | Hz = 2z1 z2 .
z , u(x)z = 0, . . z ,
x2 z1 + x1 z2 = 0. z1 , x2 (z1 )2 + x1 z1 z2 = 0.
2.5.
39
z | Hz = 2z1 z2 = 2 xx21 (z1 )2 6 0. ,

u(x) = x1 x2 .
, u(x) = x1 x2 , , , . , ln() . ,
ln(x1 ) + ln(x2 ) ,
:
!
x12
0
H(x) =
.
0
x12
ln() u(x) ,
x1 = 0 x2 = 0. ,
, .
4
28 . ,
i- j -
M RSij (x) =
u0i (x)
.
u0j (x)
, . ,
u : Rn+ 7 R.
, j ,
i ,
. , i
dxi , ,
u(x) = u
, j
dxj
u0i (x)dxi + u0j (x)dxj = 0.
, i-
j -. u(x1 , . . . , xi , . . . , xj , . . . , xl ) = u
u
xj xi xi (xj ).
xi (xj ):
dxj (xi )
u0 (x)
= 0i
= M RSij (x).
dxi
uj (x)
, ,
, , , . ,
xi (xj ) .
28
,
: ?? . . . .
, . . J. R. Hicks and R. G. D. Allen: A
Reconsideration of the Theory of Value: Part I, Economica, New Series 1 (1934): 5276 (. . . .
. . . : , . , . . (.), .: , 1993: 117141).
2.5.
40
x0i x00i i- , x0 x00 ,

xi = x0i , xj = xj (x0i ) xi = x00i , xj = xj (x00i ) . x ,
x0 x00 ( [0, 1]):
x = x0 + (1 )x00 ,
x , xi = xi = x0i +(1)x00i xj = xj (xi ).
xi (xj ) x0 , x00 x . ,
, x < x0 x00 . , x < x . x x ,
j -, . ,
j - , , xj > xj (xi ) xj = xj (x0i ) + (1 )xj (x00i ).
xj (xi ).
(. . 2.10). , ( ).
xj
xj (xi )
xi
x0i
x00i
. 2.10.
, , . . 29 .
, . , , .
13:
,
t tx X , x X .
t tx ty ,
x y .
,
. . 2.11
. x00 y00 , I 00 ,
x0 y0 , I 0 ,
t (x00 = tx0 y00 = ty0 ).
29
. K. J. Arrow and A. C. Enthoven: Quasi-Concave Programming, Econometrica 29 (1961): 779800.
2.5.
41
x2
x00
x0
y00
y
I 00
I0
x1
. 2.11.
,
, (. 10), ,
, . ,
tx. , 30 , . , , ,
,
31 .

, .
14:
l - ,
t x X x + tel X ;
t x, y X x y x + tel y + tel .
x2
x1
. 2.12.
, , u
(x) = u(xl ) + axl .
30
31
. 28 . 92.
. J. T. Rader: Theory of Microeconomics, New York: Academic Press, 1972, pp. 166167.
2.5.
42
, l 1 , ,
.
(,
) .
-
P
, . . u(x) = li=1 ui (xi ). , :
N (N {1, . . . , l}),
N ; x = (xN , xN ) x0 = (x0N , xN )
xN . :
15:
( ),
X = X1 Xl ;
(xN , xN ) (x0N , xN ) (xN , xN ) < (x0N , xN ),
(xN , x0N ) < (x0N , x0N ) x0N iN Xi ? N
.
, ,
- 32 .
, -, , -, ui () ,
. , .
2.5.1
/ 44. A) . . . x1 x2 . x1 ,
x1 x2 . x2 , , , x2 , x1 .
,
. x1 and x2 , xt , , x1 x2 ,
x1 x2 33 .
) . . . . ,
x0 , x00 x,
x0 +(1)x00 , 0 6 6 1 x. , , ,
.
, . , ,
, .
, .
, . ,
32
. A. P. Barten and V. Bohm: Consumer Theory, in Handbook
of Mathematical Economics, vol. II, K. J. Arrow and M. D. Intrilligator (ed.), North Holland, 1982 (pp. 392394),
.
33
G. A. Jehle and P. J. Reny: Advanced Microeconomic Theory, Addison-Wesley, 1998, p. 118
2.5.
43
, , : , ,
34 .
. ? , ?
/ 45. , .
, .
/ 46. , .
/ 47. , .
/ 48. , X ,
.
/ 49. ?? , , , . .
? ,
.
/ 50. , ,
L+ (x) = { y X y < x }.
/ 51. ,
.
/ 52. , , .
/ 53. , ,
.
/ 54. ,
, .
, ?
/ 55. 11.
/ 56. , , ( )
, .
/ 57. , , , .
/ 58. , , - , .
/ 59. , .
/ 60. , Rn+ P
- (. . u(x) =
ui (xi )). ,
X
u(x) =
ai xi
( ) , . ai , ,
, ? ,
(CES-)
u (x) =
34
X
i xi
1/
. . : , .: , 1990, . 10.
2.5.
44
i = 1, i > 0, , u(x) =
/ 61. ,
u(x) = lim
X
i xi
ai xi 35 .
1/
( CES-) ,
.
/ 62. ,
u(x) = lim
X
i xi
1/
( CES-) , min{x1 , x2 , . . . , xn }.
/ 63. , , ,
u(x) = lim
X
u(x) = lim
(i xi )
X
1/
(i xi )
1/
/ 64. u(x). ,

. M RSij (x) M RSji (x)?
/ 65. ,
- ( u(x) = u1 (x1 ) + u2 (x2 )) ,
M RS12 (x) M RS12 (x)

2 M RS12 (x)
=
.
M RS12 (x)
x1 x2
x1
x2
P
/ 66. -: u(x) = ui (xi ), ui () . ,

.
/ 67. ?? .. , R2+ , - u(x) =
v(x1 ) + v(x2 ). ,

, m

v(x) .
(:

m
m
m
m
n v 2n x + (1 2n )y > 2n v(x) + 1 2n v(y) .)
/ 68. (, , ,
, , , , ) R2+ , ?
(a) u(x) = x1 + x2 ;
(b) u(x) = x1 + x2 ;
(c) u(x) = x1 + x2 ;
(d) u(x) = x1 x2 ;
x2
(e) u(x) = ln(x1 ) + 22 ;
35
, ,
, , CES- (constant elasticity of substitution).
K. J. Arrow, H. B. Chenery, B. S. Minhas, and
R. M. Solow: Capital-Labor Substitution and Economic Efficiency, Review of Economics and Statistics 43 (1961):
225250.
2.A. .
45
x2
(f) u(x) = xx11+x
;
2
2
(g) u(x) = x1 + x22 ;
(h) u(x) = min{x1 , x2 };
(i) u(x) = max{x1 , x2 };
(j) u(x) = min{2x1 x2 , 2x2 x1 };
(k) u(x) = 28x1 + 28x2 2x21 3x1 x2 2x22 ;
(l) u(x) = ln(x1 1) 2 ln(2 x2 ).
? ?
.
2.A

.
, .
, , , ,
, .
:
, h, <, i,
. . .
, . ,
(
).
.
, , , ,
, , .
. (
.) , , ,
, , .
, , , , , , . ,
, , ,
, .
2.A.1
,
:
{(A1 , x1 ), (A2 , x2 ), . . . , (AN , xN )},
2.A. .
46
, xi C(Ai ) (i = 1, . . . , N ) C(). , ,
, , .
:
h, <, i {(A1 , x1 ), . . . , (AN , xN )},
(Ai , xi ) , x Ai , xi < x.

, , Ai
. , , x Ai , , .
, Ai ,
:
x , Ai , x ,
xi , , , (x
/ C(Ai )).
Ai , xi
. x
/ C(Ai ) x Ai
i
x .
. 3. ,
x Ai , x
/ C(Ai ) 36 .
, ,
.
.
16:
h, <, i {(A1 , x1 ), . . ., (AN , xN )},
? (Ai , xi ) , x Ai , xi < x.
? (Ai , xi ) , x Ai x
/ C(Ai ) , xi x.
, x1 , x2 ,
. . . , xN .
, xi xj , xj Ai
xi < xj . ( Ai xi , xj
, xj xi .) , xj
xi .
, xi , xj , xk , . . . , xq , xr xj Ai , xk Aj , . . . xr Aq , xi < xj , xj < xk , . . . xq < xr , . .
, xi < xr . , xi
, xr .
: xi xr .
, xi xj ,
xj Ai xj
/ C(Ai ), xi xj . ( Ai
xi , xj , ,
36
, ,
, X .
2.A. .
47
xj xi .) , xi ,
xj .
xi , xj , xk , . . . , xq , xr xj Ai ,
xk Aj , . . . xr Aq , (, xj
/ C(Ai )), xi < xj , xj < xk , . . . xq < xr ,
(, xi xj ), xi xr . , xi , xr .
: xi xr .
, i, j, k, . . . , q, r i,
xj Ai , xk Aj , . . . xr Aq , xi Ar . ,
. ,
, . . xj C(A)i , xk C(A)j ,
. . . xr C(A)q , xi C(A)r . , , , xi
/ C(Ar ).
xi xi , . . xi xi ( ), .
: xi xr xi xr
xr xi .
,
, (Generalized Axiom of Revealed
Preference, GARP).
17:
, {(A1 , x1 ), (A2 , x2 ), . . . , (AN , xN )} ,
xi xi .
, , xj Ai ,
Aj , . . . xr Aq , xi Ar ,
: xi xj xk xr . ,
.
, (Ai , xi ), i = 1, . . . , n ,
: X = X(n) = {xi }i=1,...,n . h, <, i
X(n), .
,
:
xk
xi x xi < x,
i
x x x x.
()
()
(
. . 71.)
, X(n),
(), (), . , ,
. (,
, . .)
12:
{(A1 , x1 ), (A2 , x2 ), . . . , (AN , xN )} , X(n) = {xi }i=1,...,n

, .
2.A. .
48
: , .
, ,
, . .
( ; GARP).
, .
, (. 72).
, X(n), X(n) xi xj xj xi .
, 1 n,
, x[1] x[2] x[n] , x[s] s- , , . .
, xi xj (xi 6= xj ), xi xj .
. m- : m , x[1] x[2] x[m] , n m
. , , .
, , , , .
, GARP, . ( .
, .
,
. , ,
xi xj xr xi , , ,
.) m + 1, . .
. , .
, xi [i],
X(n) u(xi ) = [i].
, xi xj , u(xi ) > u(xj ). . .
37 .
X(n) = {xi }i=1,...,n .
X , - X .

(. 3.B.2). ,
X\X(n)
, X(n) (. 73).
37
, (
, . . . : , .: , 1978, . 31):
R0 (. . ), R , , , x 6= y , x R y , y R x (
, R ).
R0 R , x R0 y x R y .
2.A. .
2.A.2
49
, , C(A),
A, ,
, 38 .
18:
h, <, i C() A, C (), ,
:
C(A) = C (A) A A
,
:
C(A) :
x, y C(A) x y;
x y A, x
, y , x , y . . .
x C(A), y A, y
/ C(A) x y;
( 2.A.1)
. , x
, y , , x
y . , , y , , x
y .
19:
x y ,
A, x, y A x C(A).
x y ,
A, x, y A x C(A), y
/ C(A).
(
, ).
.
C(A) , , .
, , :
x y x < y,
x y x y.
(a)
, C(A) , ,
C(A). .
38
. K. J. Arrow: Rational Choice Functions and Orderings, Economica 26 (1959): 121127.
2.A. .
50
13:
h, <, i C(A) (a). C (A), ,

C(A) A,
C(A) , . .
C (A) = C(A) A A, C(A) 6= .
:
(C(A) C (A))
x C(A). x y
y A. , x < y y A. , x C (A).
(C (A) C(A))
x C (A), C(A) , y C(A). y A, x C (A) , x y x < y .
x
/ C(A), , y x ( y C(A)), . . y x < y ,
. , x C(A).

(Weak Axiom of Revealed
Preference, WARP),
39 .
20:
: A A0 , x, y A, A0 . x C(A), y C(A0 ), x C(A0 ).
, , (a). , , :
x () y , y () x, . . x y y x
.
, ,
(. 2.B . 54). , ,
< , .
14:
< (, ; . 6):
C(A) = { x A | y A x < y } ,
< .
.
39
. . . , ,
, (P. A. Samuelson: A Note on the Pure Theory of Consumers
Behaviour, Economica 5 (1938): 6171). ,
, , ,
. , x y y x
.
2.A. .
51
: A x, y
(x, y A) x (x C(A)), , x y . C(A) x < y .
A0 x, y (x, y A0 ) y (y C(A0 )).
, y < z z A0 . ,
x, . . x < z z A0 . , x C(A0 ),
.

, , , .
, .
15:
A A ,
C(), , C(A) 6= .
: (. 34 . 34).
,
.
(a). ,
40 .
16:
C() A
3 A A ,
C(A) ;
3 C(A) ;
3 A - X ;
< ,
,
h, <,
i.
h, <, i C(A) (a).
40
, , X .
. , , C() , X A
C() :
C({x, y}) = x x y,
C({x, y}) = {x, y} x. y
2.A. .
52
: , , h, <, i , , (, , <)

.
. x, y X . {x, y} A, X . C({x, y})
, x C({x, y}), y C({x, y}).
x y , y x.
. x, y , z X , x y y z. {x, y, z} A,
X.
, x C({x, y, z}). y C({x, y, z}),
, x C({x, y, z}), x y . z C({x, y, z}), ,
, y C({x, y, z}) x C({x, y, z}). C({x, y, z}) ,
x C({x, y, z}). , x z.
, x y x < y , <. , x y
x y .
x y , y x
, . . y < x. , < ,
x < y , x y .

( 13 16) ,
, , , , . . . , A,
, ,
, A .
17:
C() A
C(A) A A;
C(A) ;
A - X .

.
2.A.3
/ 69. X = {a, b, c, d,e,f }. :

A1 = {a, c[] , d[] , f [+] }, A2 = {a[] , b[] , c, d[+] }, A3 = {b, c[] , e[+] }, A4 = {a[] , b[+] , e}.
[+] , ,
[] .
(A) , , , .
(B) ?
(C) ?
/ 70. , :
(x y y z) x z,
(x y y z) x z,
(x y y z) x z,
(x y y z) x z.
2.A. .
53
, ,
, ,
. .
/ 71. , () () 16.
/ 72. 12 ,
.
/ 73. ,
, ( ,
12), X .
/ 74.
( ):
; ; ?
/ 75. X . C(),
X , ,
( ). . .
;

;
C(A) 6= A A.
/ 76. X 3 , x, y z. A1 = {x, y}, A2 = {x, y, z}.
C().
:
C1 ({x, y}) = {x}, C1 ({x, y, z}) = {x};
C2 ({x, y}) = {x}, C2 ({x, y, z}) = {y};
C3 ({x, y}) = {x, y}, C3 ({x, y, z}) = {x, y}?
/ 77. X 3 , x, y z. A1 = {x, y}, A2 = {y, z}, A3 = {x, z}.
: C(A1 ) = {x}, C(A2 ) = {y}, C(A3 ) = {z}.
(A) , ?
(B) , ?
/ 78. ?
x, y A x, y A0 . , x C(A) y C(A0 ) x, y C(A)
x, y C(A0 ).
x A y A0 x A0 y A.
x C(A) y C(A0 ). x, y A x, y A0 .
/ 79.
, . . .
;
;
.
/ 80. X 3 , a, b c. A1 = {a, b}, A2 = {a, b, c}.
C(),
. :
2.B.
54
x y y x x, y X ;
;
.
/ 81. ,
, C() A, , , ( ). . .
;
;
A .
2.B
2.3
. , .
.

, . ,
, :
, .
( , , , -, -, .)
, , ,
. ( : ?)
.
, ,
. ( ?)
, ,
. ?
, . ( .) ,
<,
< = .

. , , ,
.
. , , , , ,
, . ,
,
, .
.
2.B.
55
, / ,
.

,
. ,
, . ,
:
41 , , ( ) . .
, . ,
, , , ,
.
(framing)
, / .
, 42 . :
, . ,
600 .
, :
A: 200 .
B: 1/3
600 , 2/3
.
?
(72%)
. , :
C: 400 .
D: 1/3 , 2/3 600 .
78% D. , A C, , B D,
. A B (
), C D ( ). , 43 . ( ,
.)
-
, , ,
41
:
- ?
- , 2500 .
- , , , 5000 .
/ .
42
D. Kahneman and A. Tversky: Choices, Values, and Frames, American Psychologist 39 (1984): 341350.
43
, ,
, , ,
.
2.B.
56
, -.
.
.
, ,
. , , , (
) , . 10%
44 .

, , , . , ,
. ,
/.
, . , , , .
.
2.B.1
, . , ,
. ,
< :
( ) . ( ) .
:
x < y (x y x y)
. .
21:
h, <, i ,
:
(i) x, y X :
x y, x y, x y;
(ii) < = (. . < );
(iii) < ;
(iv) .
, , . ,
44
J. L. Knetsch: The Endowment Effect and Evidence of Nonreversible Indifference Curves, American Economic
Review 79 (1989): 12771284.
2.B.
57

(. 2.A.1)45 .
, , . .
18:
h, <, i , :
< ;
;
;
x, y X
(x < y (y < x)) x y
(x < y y < x) x y;
x, y, z X
(x y y z) x z
(x y y z) x z;
xi , xj , xk , . . . , xq , xr xi < xj , xj < xk , . . .,
xq < xr , xr < xi , , , ,
(
).
: .
, .
19:
h, <, i , h0 , <0 , 0 i, ,

x y x 0 y ;
x y x 0 y .

(18) 12.
46 .
, , .
C< (A) (. 6):
C(A) = { x A y Ax y x y } = { x y A x < y } .
(. 14), , (. 20).
, - ,
A (, ).
45
, .

. ,
(. 37).
46
2.B.
58
, C (A), . .
C(A) = C (A) = { x @y A : y x } ,
, , . ,
x , x
; ,
.
, ,
, - x0 . x A,
x x0 , x0 (. . C(A) = {x0 }), ,
,
C(A) = { x A x x0 @y A : y x } .
,
. ,
.
2.B.2
, ()
,
, : x
, y , y , x, . ,
, . . , x y , : x y , x y , x y . ,
, (. . ),
, .
( )
, : x y ,
x y , x y . . , ,
. . , , x y , y z z x
x, y , z.
22:
h, <, i , :
(i) x, y X :
x y, x y, x y;
(ii) < = .
20:
h, <, i , :
< ;
;
.
2.B.
59
: .
, , , 47 .
, . ,
, ,
, < .
C (A) C< (A) , . , ,
, ,
A . , ,
x y z x, .
6 (. 26),
7 (. 25), . . ,
.
, , ,
.
.
, (()) :
(1)
(2)
(3)
(4)
(x, y) > 0 , x y ;
(x, y) < 0 , y x;
(x, y) = 0 , x y ;
(x, y) = (y, x).
. , u(),
(x, y) u(x) u(y).
, , , , .
( <). p, q, r, s. p = (x, y), x, y X .
.
21:
X Rl h, <, i, < ( Rl Rl ). : X X R,

(1)(4).
: . ,
. , , X X ( (x, x)). , <
.
d(p, q) = |pq| Rl Rl . d () : X
X 7 R , p X X
47
,
, . . 19 . 418.
2.B.
60
p (. . q ):
d (p) = inf d(p, q).
q
, . , .
p, q X X . r d(p, r) 6 d(p, q) + d(q, r). ,
d (p) = inf d(p, s) 6 d(p, q) + d(q, r).
s
r,
d (p) 6 d(p, q) + inf d(q, s) = d(p, q) + d (q).
s
, ,
d (q) 6 d(p, q) + d (p).
,

d (q) d (p) 6 d(p, q),
d ().
, d (p) > 0. , , d (p) = 0 , p
(p ). , p , d (p) = d(p, p) = 0. , p .
/

, , , p -. p ,
p , , d ()
d (p) > > 0.
d (x, y),
x < y,
(x, y) =
d (y, x), y < x.

() d (). ,
() (1)(4) .

, (x, y),
, 48 .
2.B.3
/ 82. 18.
/ 83. X = Rn+ , R :
x R y xi > yi i,
48
. . W. J. Shafer: The Nontransitive Consumer, Econometrica 42 (1974): 913919. . 120

. 84.
2.C. :
61
:
x R0 y (y R x) (x R y),
x R00 y (y R x),
x R000 y (x R y) (y R x),
x R0000 y (x R y) (y R x).
. R0 R00 ? .
/ 84. R .
R R , :
x R y (y R x),
x R y (x R y) (y R x).
, R , , R , .
.
/ 85. 20.
/ 86. 83, , R
:
x R y i : xi > yi .
/ 87. 21??.
/ 88. 21, , () , (1)(4).
/ 89. , 26 27 2.4, ,
.
2.C
. , -
, . . , , ,
, .
?
, , X .
, X . ,
A A A. ,
A, A , .
, .
i X . ,
X , i
( ). . i
2.C. :
62
() C(, ). . i
p(). C()

. A A C(A)

, x A ,
; . . p() i,
C(, A) = {x}.
.
7:
X , x, y z,
A = {{x, y},{y, z},{z, x}}.
, X , 6
( ):
1
yzx
zxy
xyz
zyx
yxz
xzy
,
, p1 , . . . , p6 .
C({x,
y}) = (p2 + p3 + p6 , p1 + p4 + p5 ),
C({y,
z}) = (p1 + p3 + p5 , p2 + p4 + p6 ),
C({z,
x}) = (p3 + p5 + p6 , p1 + p2 + p4 ).
C({x,
y}). p2 , p3 p6 , x y . , x y
x. , p1 , p4 p5 ,
y x.
4
, C() , , .
8 ( 7):
, , ,

C({x, y}) = C({y, z}) = C({z, x}) =
1 1
,
.
2 2

,
(p1 , p2 , . . . , p6 ), . ,
:
1
0
1
0
0
1
1
0
1
0
1
0
0
1
0
1
0
1
1
0
0
1
1
0
0
1
1
1
p1
21
0 p2 2
1

0
p3 = 2 .
1
1
p4
21
0 p5 2
1
p6
1
2
2.C. :
63
, ,

( ). : 16 , 16 , 16 , 61 , 16 , 16

1 1
1 1
4 , 4 , 0, 0, 4 , 4
.

C({x, y}) = C({y, z}) = C({z, x}) = 12 , 12

, , , y
z x, z x y , y x z
x z y . , ,
.
,
, , ,

1 3
C({x, y}) = C({y, z}) = C({z, x}) = 4 , 4 ,
(
).
4
. 2 . ,
, . . , ,
.
.
(
) , ( . 2) .
3.1
3.1.1

. , X , (
) , . , 24 -
. ,
, .
, .
. . , ,
(. ., , ).
X , , .
.
, , , :
B(p, R) = { x X px 6 R } ,
p Rl+ , R .
, , () = (1 , . . . , l ). ,
, ,
64
3.1. :
65
:
B 0 (p, ) =
x X p(x ) 6 0
= { x X px 6 p } ,
. . ,
x. ,
/ / . .
, , , ( ) , ,
. , . (, )
, ,
,
.
, .
22:
X p Rl+ .
:
(i) B(p, R) = { x X px 6 R } , 1 R > inf xX px.
(ii) B 0 (p, ) = { x X px 6 p } , X .
(iii) B(p, R) B 0 (p, ) Rl .
(iv) B(p, R) B 0 (p, ) ,
p Rl++ .
(v) B(p, R) = B(p, R) B 0 (p, ) = B 0 (p, ) R.
(vi) R > R, B(p, R) B(p, R ).
(vii) p > p, B(p , R) B(p, R).
:
.

, ,
,
, .

.
3.1.2
, ,
, , , (, ),
, , , ,
.
1
X = Rl+ , , R > 0 .
3.1. :
66
,
. , ,
, . . , .
B X . , B , B 2 .
x
( )
.
23:
h, <, i X , B B X .
x: B 2X ,
x(B) = { x B x < y y B } ,
, ,
x(B) =
x B y x, y
/B ,
. x(B) B B ,
x(B) 3 .
u : X R,
:
u(x) max .
xB
B :
x(B) = argmax u(x).
xB

B(p, R), p R :4 :
u(x) max
xX
(C)
px 6 R.
, , x(p, R) (
x(B), ).

X = R2+ ( 4 . 27 5 . 29).
9:

R > 0 p R2++ . pR1 , 0 ,
p R.
, x
, pR1 . ,
, , x

pR1 , 0 ,
B(p, R).
4
2
. 6 . 23.
, -,
A. Cournot: Recherches sur les principes mathematiques de la theorie des richesses, Paris: Hachette, 1838.
4
(H. H. Gossen:
Entwicklung der Gesetze des menschlichen Verkehrs und der daraus fliessenden Regeln f
ur menschliches Handeln,
Braunschweig: F. Vieweg und Sohn, 1854).
3
3.1. :
67
, ,
, . 5
, . 3.1. ,
, ,
(
) .
x2
x1
. 3.1.
(C)
. . , ,
.
23 ( ):
p Rl++ , R > inf xX px .

(i) , . . x(p, R) 6= ;
(ii) , x(p, R) ;
(iii) , x(p, R) ;
(iv) x(p, R) 6 , . . x(p, R) =
x(p, R) ( > 0);
(v) , x(p, R)
x(p, R);
, . . p
x = R x
(vi) x(p, R) p R, x(p0 , R0 ) p0 R0 , x x(p, R), x0 x(p0 , R0 ), x0 B(p, R),
x B(p0 , R0 ), x x(p0 , R0 ).
: (i) 22, , B(p, R) . ,
,
, x(p, R) 6= .
(ii) , x(p, R) , x0 , x00
x(p, R), . . x0 , x00 x(p, R). x = x0
+(1 )x00 , 0 < < 1. B(p, R) .
, x0 , x00 B(p, R), x B(p, R), . . x
. x0 , x00 x(p, R),
x0 x00 . x0 < x00 x < x00 7 .
5
, .
, , , .
7
, x x00 .
6
3.1. :
68
, x
. , x B(p, R).
(iii) , x(p, R) , .
.
Rn > inf xX pn x {pn , Rn }
p , R},
n=1 {
x), {xn }
n (
p , R) > (0, inf xX p
n=1 pn Rn (. . xn = x(pn , Rn )) , . .
. pn xn 6 Rn , , n , p
x
6 R.
{xn }
n=1 x
= x(
, x
p, R),
p
R.
. . x

, x
x
p
x
6 R.
, . . x
X ,
x,
x = min p
inf p
xX
xX
z , . x = z + (1 )
z < R.
p
x (0 < < 1).
, p
x < R.
, x x
.
x
< Rn .
, N , n > N pn x
, . . nk > Rnk k . , , p

x
> R,
{nk }+
k=1 , p x
n
n
. n , p x
< R xn
x
. , , ,
xn x
<x
. , . , x
x
. . x
,
R,
= x(
p
p, R).
x(p, R) .
: , , , 8 .
(iv) .
(v) x(p, R) , , . .
x x(p, R)
, p
x < R.
x
, x
x
. x
(p
, x
x 6 R), .
x
(vi) x x(p, R) x0 B(p, R), x < x0 . , x0 x(p0 , R0 )
x B(p0 , R0 ) x0 < x. < x x0 ,
x x(p0 , R0 ).

.
, . ,
: , ,
( ).
(vi) (. 20 . 50).
8
. . :
, .: , 1986, . 2335.
3.1. :
69
x, x0 (9 ) x, ,
, x x0 . ,
x0 , , , x (
). ,
, x x0 ,
x0 , x, x0 .
, ,
.
10:
, .
. x(p, R) x(p, 1) p R 1 . , x(p, R) = Rx(p, 1),
.
x(p, 1),
, Rx(p, 1) x(p, R). , x
R
x x(p, R). , R
x B(p, R). , B(p, R) x(p, R), u(
, R
x . x
x) > u(R
x).

R1 x
B(p, 1), , , u R1 x
>
R1 x
x(p, 1). ,
u(
x). , x
R
x x(p, R).
, x(p, R) Rx(p, 1), . ,

, . ,
. (
) .
4
.
( ) . (C) ,
u . :
L(x, ) = u(x) + (R px),
, .
, X x > 0. ,

, X (, Rl ). x
:
(1) u(
x) p 6 0;
(3) (R p
x) = 0;
(2) (u(
x) p)
x = 0;
(4) > 0.
,
x
, (
x, ) .
( ...)
, ,
x
: x
i , ; . 2l+1
9
, , .
3.1. :
70
( ). , . ,
.
. , x xi u(x)/xi > 0, ,
(1), > 0. (3)
> 0 , p
x = R ( ).
, (. 23). , p
x = R ,
.
(1) ,
u(
x)
6 pi
xi
, ( xi > 0)
(2)
u(
x)
= pi .
xi
, > 0 k , xi > 0, i .
,
pi
u(
x)/xi
>
= M RSik (
x).
pk
u(
x)/xk
i , xi > 0 :
u(
x)/xi
pi
=
= M RSik (
x).
pk
u(
x)/xk
, /
??/ .
> 0, : px = R.
,
.
, :
x
, , u0i (
x) > 0 , ,
2 .
.
( , , )
> 0 ,
L(
x, )
60
xk
L(
x, )
= 0, xk > 0
xk
u(
x)
u(
x)
6 pk
= pk , xk > 0.
xk
xk
, l
. .
3.1. :
71
, .
p < 0, ei =
(0, . . . , 0, 1, 0, . . . , 0) (i-). . . .
,
.
11:
X = Rl+ ,
u(x) = x1 + a x2 , a > 0.
( ). ( , u(x) .) , . ;
.
, x > 0 > 0, , x .
, x .
u(x) = x1 + a x2
:
L(x, ) = x1 + a x2 + (R p1 x1 p2 x2 ).
:
(1)
(3)
L(x,)
x1
L(x,)
1
2 x1
p1 = 0;
(2)
= R p1 x1 p2 x2 > 0; (4)
L(x,)
= 2ax2 p2
x2
L(x,)
= (R p1 x1
= 0;
p2 x2 ) = 0.
, > 0, . .
:
p1 x1 + p2 x2 = R.

x2
p1
= , x2 =
a x1
p2
p1
a
p2
!2
x1 .
x2 ,
p1 x1 + p2
p1
a
p2
!2
x1 = R
2
2 (p1 )
p1 + a
p2
x1 = R x1 =
Rp2
.
p1 p2 + a2 (p1 )2
x2 =
a2 Rp1
.
(p2 )2 + a2 p1 p2
,
x(p, R) =
Rp2
a2 Rp1
;
2
2
2
p1 p2 + a (p1 ) (p2 ) + a2 p1 p2
, , 23. ( !)
4
, , .
3.1. :
72
24:
10 , p R (. . x
x(p, R)).
u(
x), x
,
(p, R) .
, , R > inf xX px ,
.
.
, ,
.
24 ( ):
23.
(i) v(p, R) (p, R): v(p, R) = v(p, R) ( > 0);
(ii) v(p, R) (v(p, R0 ) > v(p, R) R0 > R),
, ;
(iii) v(p, R) (v(p, R) 6 v(p0 , R) p > p0 ),
, ;
(iv) v(p, R) (p, R);
(v) , v(p, R) .
: (i)
x(p, R) (. 23).
(ii) , v(p, R) R. R0 R, R0 > R.
v(p, R0 ) > v(p, R) , R0 > R B(p, R0 )
B(p, R) 11 . R0 > R v(p, R0 ) = v(p, R),
x(p, R) x(p, R0 ), .
, ,
v(p, R0 ) > v(p, R).
(iii)
.
(iv) , f (x) , f (x) . v(p, R), . .
0 6 6 1
v(p1 + (1 )p2 , R1 + (1 )R2 ) 6 max{v(p1 , R1 ), v(p2 , R2 )}.
x p = p1 + (1 )p2 R =
+ (1 )R2 , . . x x(p , R ). , x
p1 R1 , p2 R2 . , ,
p1 x > R1 p2 x > R2 . , (1 ) , p x > R . ,
x x(p , R ). , p1 x 6 R1 , p2 x 6 R2 . , p1 x 6 R1 . , v(p1 , R1 )
p1 R1 ,
R1
10
G. B. Antonelli: Sulla teoria matematica
della economia politica, Pisa: Tipografia del Falchetto, 1886.
11
, B(p, R0 ) = B(p, R) .
3.1. :
73
v(p1 , R1 ) > u(x), x . ,

u(x) = v(p , R ) 6 max{v(p1 , R1 ), v(p2 , R2 )}.
(v)
x(p, R),
2312 .

.
.
12 ( 10):
, ( , )
, . . x(p, R) = Rx(p, 1). , v(p, R) = u(x(p, R)) = u(Rx(p, 1)) =
u(x(p, 1))R = a(p)R, a(p) u(x(p, 1)).
4
13 ( 11):
:
s
v(p, R) =
Rp2
+a
p1 p2 + a2 (p1 )2
s
a2 Rp1
=
(p2 )2 + a2 p1 p2
Rp2
+a
p1 (p2 + a2 p1 )
a2 Rp1
=
p2 (p2 + a2 p1 )
s
R
p2 + a2 p1
R
p2 + a2 p1
p2
+ a2
p1
p2 + a2 p1
p1 p2
p1
p2
R(p2 + a2 p1 )
.
p1 p2
, 24.

x.
, p11
a2
p2
v(p, R) =
r
1
p1
a2
p2
,
. .
4
3.1.3
,
.
:
ph min
hX
h < x.
12
. :
, .: , 1986, . 31.
3.1. :
74
x. x, L+ (x) = { y X | y < x },
( p) . .
25:
h(p, x) = argmin ph
hL+ (x)
( )13 . , h(p, x) 14 .
, p x p, , , x,
()
. . 3.2
.
x2
h2
x1
h1
. 3.2.
u : X R, :
ph min
hX
(H)
u(h) > u(x),

()
( ).
() .
13
. , .
, ,
.
,
- (L. McKenzie: Demand Theory Without a Utility Index, Review of Economic Studies 24
(1957): 183189). c ,
, .
14
, , (J. R. Hicks:
Value and Capital, Oxford University Press, 1939, . . . . : , .: ,
1993), (P. A. Samuelson: Foundations of Economic Analysis, Harvard University Press, 1947)
- (. 13).
3.1. :
75
25 ( ):
p Rl++ , .
(i) , . . h(p, x) 6= x X ;
(ii) , h(p, x) ;
(iii) , h(p, x) ;
(iv) h(p, x) p, . . h(p, x) = h(p, x) ( > 0);
(v) x0 x00 , h(p, x0 ) = h(p, x00 );
(vi) h h(p, x) h x.
: 23
.

, ,
( )
ph min
(H0 )
h>0
u(h) > u(x),

, X = Rl+ , . . h > 0 , h ,
u() , X = Rl+ ,
(, Rl ), .

(H0 ) h
6 0;
(1) p + u(h)
u(x)) = 0;
(3) (u(h)
h
= 0;
(2) (p + u(h))
(4) > 0.
(H0 ),
h,
, ( ),
. , h
ph , ;
u(h) u(x).
, (
, h
)
) , (h,
. u(h) 6= 0
.
,
(h
< x) .
, h
int X (H)
h
:
6 0;
(1) p + u(h)
u(x)) = 0;
(2) (u(h)
(3) > 0.
, , , x = x(p, R) p Rl++ R > 0, ,

, > 0, 1 . (
27.)
, , 11.
3.1. :
76
14 ( 11):
u(x) = x1 + a x2 :
p1 h1 + p2 h2 min
h>0
h1 + a h2 > u(x).
:
p
L(h, ) = p1 h1 p2 h2 + ( h1 + a h2 u(x)).
, , . . h1 > 0, h2 > 0.

1
p1 + = 0,
2 h1
1
p2 + a = 0.
2 h2
, > 0, , , h1 + a h2 = u(x).

2
ahh2 = pp12 h2 = a pp12 h1 . h1 + a h2 = u(x), h1 +

1

ap1 u(x) 2
u(x) 2
p1
2
,
,
h
=
.
a p2 h1 = u(x) h1 = pp22+a
2
2p
2
p2 +a p1
1
, , , , , . .
, . (, ,
( ) , - , . ,

h(p, x) =
p2 u(x)
p2 + a2 p1
2
ap1 u(x)
,
p2 + a2 p1
2
, 25. , . ,

h(tp, x) =
tp2 u(x)
tp2 + a2 tp1
2
atp1 u(x)
,
tp2 + a2 tp1
2
=

p2 u(x)
p2 + a2 p1
2
ap1 u(x)
p2 + a2 p1
2
= t0 h(p, x).
, u(h(p, x)) = u(x). ,

:
u(h(p, x)) =
h1 (p, x) + a h2 (p, x) =
s
p2 u(x) 2
ap1 u(x) 2
p2 u(x)
ap1 u(x)
(
) +a (
) =
+a
= u(x). 4
p2 + a2 p1
p2 + a2 p1
p2 + a2 p1
p2 + a2 p1

15 .
15
, (. 13),
. , / ??/.
3.1. :
77
26:
e(p, x) = ph, h h(p, x) p x,
().
, e(p, x)
p x. , (),
.
26 ( ):
25.
(i) e(p, x) : e(p, x) = e(p, x) ( > 0);
(ii) e(p, x) : e(p0 , x) 6 e(p, x) p > p0 ;
(iii) e(p, x) p;
(iv) e(p, x) ;
(v) x < y , e(p, x) > e(p, y);
: (i) ,
p p .
(ii) p0 > p, p0 6= p, h h(p, x) h0 h(p0 , x). ph0 > ph = e(p, x).
, e(p0 , x) = p0 h0 > ph0 . (, h0 > 0, e(p0 , x) > e(p, x).)
(iii) , p1 p2 0 6 6 1

e(p1 +(1)p2 , x) > e(p1 , x)+(1)e(p2 , x). h
1
2
= e(p , x).
p = p +(1)p , . . h h(p , x). , p h

{ h X h < x } p, h
1
2
p , p .
e(p1 , x) 6 p1 h
e(p2 , x) 6 p2 h.

h
= e(p , x).
e(p1 , x) + (1 )e(p2 , x) 6 p h
(iv) .
, ,
( ) (
).
(v) , x < y e(p, x) > e(p, y). x < y , , (p, x),
(p, y). , , h(p, x), e(p, x) > e(p, y).
(v) , e(p, x) > e(p, y) x < y . ,
h(p, y).
y x. e(p, y) = e(p, x) , , h(p, y) h(p, x). h
, X 0 X ,
< x. p (h)
= e(p, y) < e(p, x),
< 1, h
e(p, x).

(v) e(p, x), ,
.
(. 3.C).
.
15 ( 11):
e(p, x), u(x) = x1 +
a x2 . , -
3.1. :
h(p, x) =

p2 u(x)
p2 +a2 p1
2
ap1 u(x)
p2 +a2 p1
2
78
. :
ap1 u(x) 2
e(p, x) = p1 h1 (p, x) + p2 h2 (p, x) = p1
+ p2
=
p2 + a2 p1
2

2

u(x)
u(x)
2
2
2
(p1 (p2 ) + a p2 (p1 ) ) =
(p1 p2 + a2 p1 )p1 p2 =
=
p2 + a2 p1
p2 + a2 p1

2
u(x)
p1 p2 (u(x))2
2
=
(p
p
+
a
p
)p
p
=
.
1 2
1 1 2
p2 + a2 p1
p2 + a2 p1

p2 u(x)
p2 + a2 p1
2
, 26.
, .
e(tp, x) =
tp1 tp2 (u(x))2

p1 p2 (u(x))2
=
t
= te(p, x).
tp2 + a2 tp1
p2 + a2 p1
. ,
e(p, x) =
p1 p2 (u(x))2
(u(x))2
=
.
1
a2
p2 + a2 p1
p1 + p2
p1

(u(x))2
2
1
+ ap
p1
2
1
p1
, , , .
. (u(x))2
e(p, x) = p1pp22+a
2p
1
H=
2a2 p22 (u(x))2

(p2 +a2 p1 )3
2a2 p p (u(x))2
1 2
(p2 +a2 p1 )3
2a2 p1 p2 (u(x))2
(p2 +a2 p1 )3
2a2 p21 (u(x))2 .
(p2 +a
2 p )3
1
, , 0. , , ,
. , H , , e(p, x) .
, x < y e(p, x) > e(p, y). ,
(u(x))2
p1 p2 (u(y))2
: e(p, x) > e(p, y) p1pp22+a
>
(u(x))2 > (u(y))2 . u(x) =
2p
p2 +a2 p1
1
x1 +a x2 , , , (u(x))2 > (u(y))2

u(x) > u(y). , e(p, x) > e(p, y) u(x) > u(y).
, e(p, x) > e(p, y) x < y .
4
. , (),
.
27 ( //):
X = Rl+ p Rl++ , .
x(p, R) x
h(p, x
);
(i) , x
), x
X , h x(p, e(p, x
)) = x(p, ph).
(ii) h h(p, x
3.1. :
79

), . .
: (i) . x
/ h(p, x
, p
h0 < x
x > ph0 .
, p
, h00 , h00 h0 < x
x > ph00 .
.
x
= 0 , , h
6= 0 (, (ii) h
> 0). h
p ph.
, ph
, .
B(p, ph))
, x0 h.

x = ph
0
0
p,
0 < < 1 , x < h. x h
h .

.
28 ( , 27):
27 (
). :
x(p, R) e(p, x
) = R;
(i) x
x(p, R) x(p, R) = h(p, x
);
(ii) x
)) = u(
(iii) v(p, e(p, x
x);
)) = h(p, x
).
(iv) x(p, e(p, x
x(p, R) x
h(p, x
).
: (i) 27 , x
, , e(p, x) = p
x .
p
x = R.
x(p, R) x(p, R) = h(p, x
),
(ii) , x
(i) (iv).
h(p, x
) x
X . (vi) 25 (iii) h
= u(
u(h)
x). ,
)), . . h p h x(p, e(p, x
). , v(p, e(p, x
)) = u(h),
e(p, x
)) = u(
v(p, e(p, x
x).
) x(p, e(p, x
)) . (iv) h(p, x
)). (i) 27 , x h(p, x),
. x x(p, e(p, x
). (v) 26 ,
(i) e(p, x) = e(p, x
. , h(p, x) = h(p, x
), x h(p, x
).
x x

. ,
, . , ,
, .
16:
a 11 13, u(x) = x1 + a x2

x(p, R) =
Rp2
a2 Rp1
;
p1 p2 + a2 (p1 )2 (p2 )2 + a2 p1 p2
v(p, R) =
e(p,x)(p2 +a2 p1 )
p2 p1
R(p2 +a2 p1 )
.
p2 p1
v(p, e(p, x)) = u(x),
= u(x). : e(p, x) =
3.1. :
p1 p2 (u(x))2
p2 +a2 p1
80
. :
p1 p2 (u(x))2
h(p, x) = x(p, e(p, x)) = x p,
p2 + a2 p1
p2 u(x)
=
p2 + a2 p1
!2
ap1 u(x)
;
p2 + a2 p1
, a 15 14.
!2
.
17:
( )
: v(p, R) = a(p)R x(p, R) = Rx(p, 1) (. 10 12). , ,

e(p, x) =
u(x)
,
a(p)
u(x)
x(p, 1).
a(p)
h(p,x) = x(p, e(p, x)) =
x2

x1
. 3.3.
, .
,
. , ,
( , ,
- ).
( )
. . 3.3 .
. ( !)
,
. ,
.
3.1.4
/ 90.
X=
x Rl+ x1 x2 + x1 > 1 ,
3.1. :
81
R > 0, p Rl++ .
(p, R). ? ? ? (p, R) ?
/ 91.
X=
x Rl+ x1 x2 > 2 ,
= (1, 1), p Rl++ .

p. ? ? ? p ?
/ 92.
X=
x Rl+ x1 , x2 ,
R > 0, p Rl++ .
.
/ 93. X = Rl+ ,
= (1, 1), p Rl++ . , ,
. ?
/ 94. , p.
R > 0 wh,
h , , w .
24 .
. . ? ,
? ? ,
.
/ 95. , ( ). t , kt ,
f (kt ) , ct , () it . , 1 > > 0. k0 . ,
ct , it , kt .
. , .
/ 96. ,
, ,
. . ?
/ 97. 22.
/ 98. (vi) (vii) 22 ( ) ? ,
, , .
/ 99. ,
, , .
3.1. :
,
.

(a) u(x) = x1 + x2 ;
(b) u(x) = x1 + x2 ;
(c) u(x) = x1 + x2 ;
x2
x2
;
(f) u(x) = xx11+x
(d) u(x) = x1 x2 ;
(e) u(x) = ln(x1 ) + 22 ;
2
82
3.1. :
83
(h) u(x) = min{x1 , x2 };

(i) u(x) = max{x1 , x2 };
(g) u(x) = x21 + x22 ;
(j) u(x) = min{2x1 x2 , 2x2 x1 };
(k) u(x) = 28x1 + 28x2 2x21 3x1 x2 2x22 ;
(l) u(x) = x21 + x22 + 4x1 + 4x2 + 2x1 x2 + 6.
,
, , , .
/ 100. , . . .
(a) , , ( ) ;
(b)
;
(c) l 1 ;
(d) l 1 ;
(e) ( j 1 , j = 1, . . . , l );
(f) .
/ 101. , , v(p, R) v(p, R) = a(p) + b(p)R p R,
( ).
/ 102. , , .
/ 103. , ( ),
. 1
1, 2, . . .?
/ 104. , , .
/ 105. , , l - , l 1 .
? ?
/ 106. 25.
/ 107. u = Ax12 (A > 0), x1 > 0, 0 6 x2 < A.

(a) ? ? .
(b) . ?
/ 108. [ABB] u(x, y, z) = x + y + y + z/(1 + z).

(a) , , .
(b) , (x, y, z) R3+ z > 0, (x, y + z, 0) (x, y, z).
(c) p > 0 p2 = p3 . ,
z(p, R) = 0.
(d) pn = (1, 1/n, 1/n). z(pn , R)
y(pn , R)?
/ 109. , 2 , , ( , ), , ,
.
3.2.
84
/ 110. 2327 ,
w .
/ 111. 2327 , . w ,
24 . ,
.
/ 112. [MWG] :
e(p, x) = exp
X
kK
k ln(pk ) +
Y
pk k
u(x) .
kK
k , k ?
.
/ 113. a(p) + b(p)R.
a(p) b(p) ,
.
/ 114. , u(x)(y x) 6 0,
, u(y) 6 u(x). , ,
. , ,
.
/ 115. u(x) = (x1 + x2 2)3 . 1,
2. 3. ,
. , (1, 1) ,
.

(1)R
/ 116. x(p, R) = R
,
, p1
p2
v(p, R) =
(1)(1) R
.
(1)
p
1 p2
.
/ 117. , v(p, R) = pR1 + pR2
( ).
/ 118. () , : u(x) = [x1 x2 ], [] -
.
/ 119. -,
P
u(x) = li=1 ui (xi ).
, , .
, u0i (xi ) + xi 0, .
/ 120. ,
1/2 1/2
1/2 1/2
, (x, y) = y1 x2 + ln(x3 ) x1 y2 ln(y3 ). . ( . 21 . 59.)
3.2
, , . (,
3.2.
85
, ??). ,

: , .
() .
29 ( 16 ):
() 37, 17
e(p, x)
= hi (p, x).
pi
: , .
. e(p, x) = ph(p, x) p, x. pi , :
l
X
e(p, x)
hj (p, x)
= hi (p, x) +
pj
.
pi
pi
j=1
, .
: . , , , ,
. , ,
, . . . .
h
. , , , . . p p
>
i
i
i
0. h = h(p e , x), e i- , > 0. (vi)
h
25 h(p, x) x h x. p p
> 0
i
, p(h(p, x) h ) > 0.
h
, h(p, x) . p p
<0
i
i
, h(p + e , x).
. .
pi = (p1 , . . . , pi1 , pi+1 , . . . , pl ), p = (pi , pi ). p .
, i- pi = pi . , pi hi (pi , pi , x)+
P
j6=i pj hj (pi , pi , x) e(pi , pi , x) pi . ,

h(p , x) p , , x.
, , , . (pi , pi ) , ,
h(pi , pi , x). , :
e(pi , pi , x) =
= pi hi (pi , pi , x) +
X
j6=i
16
pj hj (pi , pi , x) 6 pi hi (p , x) +
pj hj (p , x).
j6=i
R. W. Shephard: Theory of Cost and Production Functions, Princeton University Press, 1970.
, .
17
3.2.
86
pi = pi . , f (pi ) = e(pi , pi , x)
pi hi (p , x) pi . (f 0 (pi ) = 0)
.

e,R ()
P
pi hi (pi ,pi ,x)+ j6=i pj hj (pi ,pi ,x)
e(p ,x)
A
e(pi ,pi ,x)
pi
pi
. 3.4.
. 3.4. e(pi , pi , x)
X
pi hi (pi , pi , x) +
pj hj (pi , pi , x)
j6=i
(pi , e(p , x)) ( A ). ,

e(pi , pi , x). hi (p , x). , e(pi , pi , x) pi hi (p , x):
e(p, x)
= hi (p, x).
pi
,
() . , ,
,
.
18:
( 15) , u(x) =
x1 + a x2
p1 p2 ( x1 + a x2 )2
e(p, x) =
.
p2 + a2 p1
.
e(p, x) p1 :
p2 ( x1 + a x2 )2 (p2 + a2 p1 ) a2 p1 p2 ( x1 + a x2 )2
e(p, x)
=
=
p1
(p2 + a2 p1 )2
p22 ( x1 + a x2 )2
=
= h1 (p, x).
(p2 + a2 p1 )2
, 4
14 .
3.2.
87
?? :)
30 ( ):
29,
v(p, R)
pi
v(p, R)
= xi (p, R)
R
: :
v(p, e(p, x)) = u(x).
pi :
v(p, e(p, x)) v(p, e(p, U )) e(p, x)
+
= 0.
pi
R
pi

e(p,x)
pi
= hi (p, x),
v(p, e(p, x)) v(p, e(p, x))

hi (p, x) = 0.
+
pi
R
x x = x(p, R).
h(p, x(p, R)) x(p, R) e(p, x(p, R)) R. ,

,
v(p, R) v(p, R)
= xi (p, R).
pi
R
19:
, u(x) = x1 + a x2 v(p, R) =
.
v(p,R)
R
R(p2 +a2 p1 )
.
p2 p1
v(p,R)
p1 :
v(p, R)
1
=
R
2
(p2 + a2 p1 )
Rp2 p1
v(p, R)
1
=
p1
2
p2 p1
a2 p1 p2 R p2 R(p2 + a2 p1 )
=
R(p2 + a2 p1 )
(p2 p1 )2
1
=
2
p2 p1
R
.
R(p2 + a2 p1 ) (p1 )2

v(p, R)
pi
v(p, R)
=
R
p2 p1
R
R(p2 + a2 p1 ) (p1 )2
,s
(p2 + a2 p1 )
Rp2
=
.
Rp2 p1
p1 (p2 + a2 p1 )
u(x) = x1 + a x2 .
4
3.2.
88
31 ( 18 ):
29,
xi (p, R) xi (p, R)
hi (p, x(p, R))
=
+
xj (p, R).
pj
pj
R
)) =
: : x(p, e(p, x
h(p, x). pj :
)) xi (p, e(p, x
)) e(p, x
)
)
xi (p, e(p, x
hi (p, x
+
=
.
pj
R
pj
pj
e(p,x)
= hi (p, x). x
pi
x(p, R). hj (p, x(p, R)) = xj (p, R)
e(p, x(p, R)) = R.
,
hi (p, x(p, R))
xi (p, R) xi (p, R)
=
+
xj (p, R).
pj
pj
R
20:

u(x) = x1 + a x2 .

2
a Rp1
Rp2
. h1 (p, x) =
x(p, R) = p1 p2 +a
2 (p )2 ; (p )2 +a2 p p
1
2
1 2
p22 ( x1 +a x2 )2
(p2 +a2 p1 )2
x1 (p,R) x1 (p,R)
,
x2 (p, R)
p2
R
h1 (p,x(p,R))
:
p2
x1 (p, R)
R(p1 p2 + a2 (p1 )2 ) Rp1 p2
=
=
p2
(p1 p2 + a2 (p1 )2 )2
=
a2 R(p1 )2
a2 R
=
;
(p1 )2 (p2 + a2 p1 )2
(p2 + a2 p1 )2
a2 R
a2 Rp1 p2
=
;
2
2
p2 p1 (p2 + a p1 )
(p2 + a2 p1 )2
x1 (p, R)
p2
a2 Rp1
x2 (p, R) =
=
R
p1 p2 + a2 (p1 )2 (p2 )2 + a2 p1 p2
h1 (p, x)
2p2 (p2 + a2 p1 )2 2(p2 )2 (p2 + a2 p1 )
=
( x1 + a x2 )2 =
4
2
p2
(p2 + a p1 )
=
2a2 p1 p2
( x1 + a x2 )2 ;
2
3
(p2 + a p1 )
h1 (p, x(p, R))

2a2 p1 p2
=
(v(p, R))2 =
p2
(p2 + a2 p1 )3
=
R(p2 + a2 p1 )
2a2 R
2a2 p1 p2
=
.
(p2 + a2 p1 )3
p2 p1
(p2 + a2 p1 )2
18
E. Slutsky: Sulla teoria del bilancio del consumatore, Giornali degli economisti e rivista di statistica 51 (1915):
126, . . . . : , . . , .: - , 1963
3.2.
89
:
h1 (p, x(p, R))
x1 (p, R) x1 (p, R)x2 (p, R)
=
+
.
p2
p2
R
,
2a2 R
a2 R
a2 R
=
+
.
(p2 + a2 p1 )2
(p2 + a2 p1 )2 (p2 + a2 p1 )2
4
, .
32 ( ):
hi
29, S = { p
} (j
) , .
: ,
.
, 19 , , . .
2 e(p, x)
2 e(p, x)
=
.
pj pi
pi pj
, ,
hj (p, x)
hi (p, x)
=
.
pj
pi
, (
) . ,
e(p, x) ,
. S (.
125).

,
.
33:
x(p, R) . , x(p, R)
. :
X
i
X
i
pi
pi
xi (p, R)
+ xj (p, R) = 0 j ;
pj
xk (p, R)
xk (p, R)
+R
= 0 k ;
pi
R
X
i
pi
xi (p, R)
= 1.
R
: (. 130).

19
. ??
3.2.
90
.
.
27:
i-
EiR = EiR (p, R) =
xi (p, R)
R
.
R
xi (p, R)
i- i-
p
p
Eij
= Eij
(p, R) =
pj
xi (p, R)
.
pj
xi (p, R)
, i-
i (p, R) =
pi xi (p, R)
pi xi (p, R)
=
.
px(p, R)
R
33 .
34:
x(p, R) . , x(p, R)
. :
X
p
(p, R) = j (p, R) j ;
i Eij
EkR (p, R) =
p
Eki
(p, R) k ;
i (p, R)EiR (p, R) = 1.
: (. 130).

, . ,
( ) , 26
. 77, ( ), ( ) ,
.
(.
3.C).
3.2.1
/ 121. , .
/ 122. , .
w , 24 . ,
.
/ 123. , :
3.2.
91
(a) ,
(b) CES,
(c) ,
(d) ,
(e) ,
(f) .
/ 124. . ,
, .
, .
/ 125. S . , Sp = 0.
/ 126. 2 . , S11 = 2 S22 = 1.
S21 ?
/ 127. p1 = 1, p2 = 2, p3 = 6
10 ? ?
4 ? .
?
3
? ?
.
?
/ 128. 3 . :
R
R
p
p
x1 (p, R) =
, x2 (p, R) =
.
2p1 (1 + p2 /p1 )
2p2 (1 + p2 /p1 )
.
/ 129. [MWG] R > 0

x1 (p, R) = 100 5
p1
p2
R
+ + ,
p3
p3
p3
x2 (p, R) = +
p1
p2
R
+ + ,
p3
p3
p3
, , , > 0.
(a) , ( ).
(b) x1 x2 ?
(c) , , , , ?
(d)
3- , (x1 , x2 ).
(e) ? (
.)
/ 130. 33 34.
/ 131. , ,

xi (p, R)
xj (p, R)
=
.
pj
pi
/ 132.
. , .
/ 133. .
?
( ).
/ 134. , , hi (p, u) = e(p,u)
pi
/ 135. , , v(p,R)
( R
) .
/ 136. , ,
u(x) = x1 + a x2 (. 13 11).
3.3.
3.3
92
, , , , , .
3.3.1
: .
,
(, ).
, . .
,
(x(p, R) X ), (H(x)) ,
x | u(x) > 0. ,
:
u(x(p, R)) = (p, R)p,
p| x(p, R) = R.
.
,
x
H1 u
=
R
u| H1 u
()
x
H1 ux| + H1 uu| H1
= H1
p
u| H1 u
()
= u | x/R. , .
(. 137).

x = x(p, R). , ,
, .
.
( , , ) . , ,
.
28:
(R) = x(
p
p , R), R .
, , ,
. , .
3.3.
93
29:
i p R,
(p, R) .
i , ,
.
,
( ).
30:
i p R,
(p, R) .
( ).
dR,
dx =
xi (p,R)
> 0, i
R
xi (p,R)
< 0, .
R
x(p, R)
dR.
R
p R,
() ( , u | H1 u < 0), H1 u. i- ,
i- , , .
. , , .
.
31:
, x() , x =
x(p, R) x0 = x(p0 , R) 20
(p0 p)(x0 x) 6 0.
, :
i- , ,
i- .
, , .
, .
, , :
u(x1 , x2 ) = 2x1 + 3x2
(2x1 + x2 8)2 + 1.
, . . 3.5
. ,
(R = 3, p2 = 1). ;
.
20
3.3.
94
0
0
. 3.5.
, , ,
,
. .
x0 ,
p0 , . ., , x0 x(p0 , p0 x0 ).
,
xs (p, x0 ) = x(p, px0 ),
. .
32:
, x() , x xs (p, x0 ) = x(p, px0 )
(p p0 )(x x0 ) 6 0.
,
(p p0 )(xs (p, x0 ) xs (p0 , x0 )) 6 0.
:
, .
, , .
35:
, .
.
: ,
x, p
px0 , . . px = px0 . , p0 x0 = R ,
(p p0 )(x x0 ) = px px0 p0 x + p0 x0 = p0 x0 p0 x = R p0 x.
3.3.
95
, x0 B(p, px0 ). , x B(p0 , R), x x(p0 , R) (. (vi) 23 . 67), ,

, p0 x = R, . . . , x
/ B(p0 , R). , x
/ B(p0 , R), p0 x > R, . .
.

: (. 3.B). , x0 p0 , x
p. (. 20 . 50)
px0 6 px p0 x < p0 x0 ( , x x0 , x0 x).
( ),
. , p0 x > p0 x0 .
, , . . ,
,
. ,
, , , .
21:
.
0
p = (1, 1), R0 = 8.
p1 = (1, 2), R1 = 12. x0 = (6, 2). ,
. ,
.
: . : (1) ; (2) . , (1, 1) (1, 2) 10 (1 6 + 2 2).

= (
, x
x1 , x
2 ),
:
x
1 + 2
x2 = 10,
(1 1)(
x1 6) + (2 1)(
x2 2) = x
2 2 6 0,
x
1 + 2
x2 = 10,
5
(6, 2)
8
x
2 6 2.
(6, 2)
8 10
(7,2, 2,4)
8 10 12
. 3.6.

, 10. , , , .
3.3.
96
, :
x
1 + 2
x2 = 12,
x
2 6 2,4.
. 3.6.
, . .
, .
. , , .
33:
, x() , x
p, p0 Rl++ h h(p, x) h0 h(p0 , x)
(p0 p)(h0 h) 6 0.
,
(p0 p)(h(p0 , x) h(p, x)) 6 0.
36:
,
.
: h h0 x.
:
ph 6 ph0
p0 h0 6 p0 h.
. x0
p0 R = p0 x0 , p1 .
:
: (p1 p0 )(x(p1 , p1 x0 ) x0 ) 6 0;
: (p1 p0 )(x(p1 , e(p1 , x0 )) x0 ) 6 0.
, , ,
.
, , , .
.
, , . . ,
. s = R p1 x0 , h = R e(p1 , x0 ).
, s 6 h . , ,
p1 x0 > e(p1 , x0 ) = p1 h(p1 , x0 ). ( x0
, e(p1 , x0 )).
3.3.
97
x2
x2
s
h
x0
x0
x1
x1
. 3.7. p01 > p11 , p02 = p12 = 1

. , p0 = (p01 , 1),
R. , ,
, . . p1 = (p11 , 1), p01 > p11 . . 3.7 .
.
. .
, . ,
, .

. ,
.
, , , ,
, ,

xs (p0 , x0 )
x(p0 , p0 x0 ) x(p0 , p0 x0 ) 0
dx(p, px0 )
=
=
+
x

p
dp
p
R
p=p0
h(p0 , x0 )
dx(p, e(p, x0 ))
x(p0 , p0 x0 ) x(p0 , p0 x0 )
=
=
+
h(p0 , x0 ).

p
dp
p
R
p=p0
, x0
p0 , ,
h(p0 , x0 ) = x(p0 , e(p0 , x0 )) = x0 .
S = S(p0 , x0 ). ,
dp,
dx = Sdp. , dp | dx = dp | Sdp 6 0. ,
, S 21 .
.
, , . , , ,
.
21
, , , .
3.3.
98
dp,
x
dx = p
dp. (),
x
= T,
p
T = T(x) :
1
T=H
H1 ux | + H1 uu | H1
.
u | H1 u
(dp | dx 6 0) , dp | Tdp 6 0
dp, . . , T .
, T ,
x = x(p, R)
u | x
x | Hx
6 4.
|
u | H1 u u x
(0)
(. 31), ,
, X

x X
. ( ) 22 .
, , ,
, (, , . 148).
. , , ,
:
x X
x | H(x)x
6 4.
u(x) | x
( 147). , ,
.
, H(x)x 6 4u(x) x X
(. 31)
x
h
x
=
x.
p
p R
, dp
dx =
x
h
x
x
dp =
dp
xdp = Sdp
xdp.
p
p
R
R
, dp : Sdp,
x
R xdp. , ,
x
dp | dx = dp | Sdp dp | R
xdp. , , , . ,
22
. . : , .: , 1990, . 6977.
J. K. Quah: The Weak Axiom and Comparative Statics, Working
Paper, No. W15, Oxford: Nuffield College, 1999.
3.3.
99
x
dp | R
xdp, . , x
, R
> 0, , , ,
() .

, . , ,
x0 p0 R = p0 x0 ,
p1 . :
x = x1 x0 = [x1 x(p1 , p1 x0 )] + [x(p1 , p1 x0 ) x0 ].

( R = p0 x0 p1 x0 ),
. , :
x = [x1 x(p1 , e(p1 , x0 ))] + [x(p1 , e(p1 , x0 )) x0 ].
, , p0 p1 (, , x0 x1 ). ,
. , ,
, .
3.3.2

, , .. p R.

. ( ). p0 R0 , p1 R1 .
, v(p, R).
u(x) x,
. v(p0 , R0 ) < v(p1 , R1 ), ,
v(p0 , R0 ) > v(p1 , R1 ), .
, ,
. , ,
.
.
34:
(q; p, R) , , q , p,
R, . . (q; p, R) = e(q, x(p, R)).
, (q; p, R)
e(q, x), .
, .
() q > 0.
(q) = (q, p1 , R1 ) (q, p0 , R0 ) = e(q, x(p1 , R1 )) e(q, x(p0 , R0 )) = e(q, x1 ) e(q, x0 ),
3.3.
100
x0 , x1 . (q), , q
, . (,
).
, , ( , numeraire), . , (q) u(x1 , . . . , xl ) =
s(x1 , . . . , xl1 ) + xl , pl = 1. ,

v(pl , 1, R) = s(x1 (pl ), . . . , xl1 (pl )) + R
l1
X
pi xi (pl ).
i=1
, , ??, , e(p, x) = u(x) s(xl (pl )) +

pl xl (pl ). (q, p, R) = e(q, x(p, R)),
(q, p, R) = v(p, R) s(xl (ql )) + ql xl (ql ).

, q
( q) ,
.
(q)
(q) = (q, p1 , R1 ) (q, p0 , R0 ) = v(p1 , R1 ) v(p0 , R0 ).
, (q) q,
q p0 p1 (, ,
, ). , (EV ),
, (CV ).
35:
( ) , ,
:
x(p0 , R0 + EV (p0 , R0 , p1 , R1 )) x(p1 , R1 ).
,
EV (p0 , R0 , p1 , R1 ) = e(p0 , x1 ) R0 = (p0 ).
, , , p0 , (. . p1
R1 ), (p0 , p1 , R1 ) =
e(p0 , x1 ). R0
e(p0 , x1 ) R0 = e(p0 , x1 ) e(p0 , x0 ) = (p0 , p1 , R1 ) (p0 , p0 , R0 ) = (p0 ),
, x0 p0 , e(p0 , x0 ) = R0 .
3.3.
101
22:

x(p, R) =
Rp2
a2 Rp1
;
p1 p2 + a2 (p1 )2 (p2 )2 + a2 p1 p2
p1 p2 ( x1 + a x2 )2
e(p, x) =
p2 + a2 p1
. , p0 = (2, 1)
p1 = (1, 2) , R.
(q, p, R) =
q1 q2 (p2 + a2 p1 )
R.
p2 p1 (q2 + a2 q1 )
,
EV (p0 , R, p1 , R) = (p0 , p1 , R) R =
p0 = (2, 1) p1 = (1, 2), EV =
p01 p02 (p12 + a2 p11 )

R R.
p12 p11 (p02 + a2 p01 )
1a2
R.
1+2a2
36:
( )
,
:
x(p0 , R0 ) x(p1 , R1 CV (p0 , R0 , p1 , R1 )).
, ,
p1 ,
(. . p0 R0 ), (p1 , p0 , R0 ) = e(p1 , x0 ).
, (p1 , p1 , R1 ) = e(p1 , x1 ) = R1 .
q = p1 :
CV (p0 , R0 , p1 , R1 ) = e(p1 , x0 ) R1 = (p1 ),
,
, (. ???).
23 ( 22):

CV (p0 , R, p1 , R) = R (p0 , p1 , R) = R
p11 p12 (p02 + a2 p01 )

R.
p02 p01 (p12 + a2 p11 )
p1 = (1, 2) p0 = (2, 1) CV =
(1a2 )
R.
(2+a2 )
, (,
): R0 = R1 = R, p01 > p11 , p01 = p11 = p1 . , ,
: v(p0 , R) 6 v(p1 , R).
:
EV = EV (p0 , R0 , p1 , R1 ), CV = CV (p0 , R0 , p1 , R1 ), x0 = x(p0 , R), x1 = x(p1 , R).
3.3.
(p0 ,p1 ,R)
x2
102
x2
EV
R
x0
R
CV
(p1 ,p0 ,R)
x1
x1
x0
x1
R/p01
x1
R/p11
R/p01
R/p11
. 3.8. R0 = R1 = R, p01 > p11 , p02 = p12 = 1

, , p1 R
.
. 3.8 , (p02 = p12 = 1).
e(p,x)
= h1 (p, x) ( )
p1
1
0
p1 p1 ,
p01
p11
h1 (t, x)dt = e(p01 , x) e(p11 , x).
(

p01 p11 , . . 3.8):
EV = e(p01 , x1 ) R = e(p01 , x1 ) e(p11 , x1 ),
CV = R e(p11 , x0 ) = e(p01 , x0 ) e(p11 , x0 ).
,
Z
EV =
p01
p11
h1 (t, x )dt,
CV =
p01
p11
h1 (t, x0 )dt.
?? ,

CS = CS(p0 , p1 ) =
p01
p11
x1 (t)dt.
, p01 > p11 , (

, ):
EV > 0,
CV > 0,
CS > 0.
( ),
h1 (t, x0 ) 6 x1 (t) 6 h1 (t, x1 ) p11 6 t 6 p01 .
. , t ( p11 6 t 6 p01 ) R x1 (t) = x1 (t, R). e(t, x0 ). ,
3.3.
103
CV (p01 , t) = R e(t, x0 ). ,
x1 (t, e(t, x0 )) 6 x1 (t, R). , x1 (t, e(t, x0 )) = h1 (t, x0 ). , .
. , R e(t, x1 ), . . EV (t, p11 ) =
e(t, x1 ) R. x1 (t, R) 6 x1 (t, e(t, x1 )) = h1 (t, x1 ).
x2
x2
h(t,x1 )
x(t)
h(p01 ,x0 )=x0
h(p11 ,x1 )=x1
x(t)
0
h(t,x )
x1
x1 (t)
x1
h1 (t,x0 ) x1 (t)
h1 (t,x1 )
. 3.9. ,
,

( ) . 3.9.
t p11 p01 , ,
CV 6 CS 6 EV.
. 3.10 . CV = S(ABEF ), CS = S(ABDF ) ( ), EV = S(ACDF ).
p1
p01
p11
h1 (p1 ,x1 )
A
C
D
E
h1 (p1 ,x0 )
x1 (p1 )
x1
. 3.10. ,
24 ( 22 23):
p12 = 1 p02 = 1 :
CV = R
EV =
p11 (1 + a2 p01 )
p01 p11
R
=
R,
p01 (1 + a2 p11 )
p01 (1 + a2 p11 )
p01 (1 + a2 p11 )
p01 p11
R
R
=
R.
p11 (1 + a2 p01 )
p11 (1 + a2 p01 )
3.3.
104
.
R
, x1 (p1 ) = p1 (1+a
2 p ) . ,
1
t
ln
1 + a2 t

!0
1
.
t(1 + a2 t)
CS = R
p01
p11
p01
x1 (t, 1, R)dt = R ln
1 + a2 p01
p11
R ln
1 + a2 p11
p01 (1 + a2 p11 )
CS = R ln
.
p11 (1 + a2 p01 )
, :
EV
CS = R ln 1 +
R
CV
= R ln 1
R
t ln(1 + t) t,
. , ln(1 + t) < t t 6= 0,
, , CV < CS < EV .
4
( ) , . , , ,
,
EV (p0 , p1 ) = CS(p0 , p1 ) = CV (p0 , p1 ).
, ,
; , .
, , .
.
, n ui (xi )
Ri . p0 p1 . , ,
, . .
X
CVi (p0 , Ri , p1 , Ri ) > 0.
, {Ri0 }: i Ri0 6 i Ri ), vi (p1 , Ri0 ) >

vi (p0 , Ri ) i, , .
,
P
CV =
X
i
CVi (p0 , Ri , p1 , Ri ) =
(Ri ei (p1 , xi (p0 , Ri ))) > 0
Ri0 , Ri0 > ei (p1 , xi (p0 , Ri )) ( Ri0 = ei (p1 , xi (p0 , Ri ))

+ CV /n). , vi (p1 , Ri0 ) > vi (p0 , Ri ) i.

vi (, ) ei (, ),
vi (p1 , Ri0 ) > vi (p1 , ei (p1 , xi (p0 , Ri ))) = vi (p0 , Ri ).
3.3.
105
: , ,
, 23 . , ,
.
, , , .
3.3.3
/ 137. () () (. . 92).
/ 138. , ??/ /, , ( ,
) .
/ 139. , - ,
??/ /
/ 140. - ( ):
2
1 2, x
p1 < 0.
2
1 2, x
p1 > 0.
(a) , . , ,
1 2, .
(b) , ,
( ) .
/ 141. , . ?
/ 142. , ?
/ 143. , 21.
, ,
.
/ 144. .
. x1 (p, R) = 3p1 +43R

p1 p2 .
0
p = (1, 1), p = (1, 4) R = 121.
/ 145. v(p, R) =
R
0
min{p1 ,p2 } . p = (1, 1), p = (1, 4)
R = 121.
/ 146. .
p = (1, 1) R = 5 x(p, R) = (2, 3).
(a) , , 20% ,
.
(b) ??? 20 40 .
.
/ 147. -,
P
u(x) = li=1 ui (xi ). , , ui (xi )
i > 0. ,
.
23
. 80 . 6 . 223.
3.3.
106
/ 148. x ,
.
(a) , ,
(0 < < 1) ,
(0) .
(b) .
(c) , , ,
, .
/ 149.
1
u(x) = x | Ax + b | x,
2
A .
/ 150. , u(), .
R0 . ., 1 . .
,
, .
. , ,
, A . . ,
, B . . A B ?
(a) u(x) = min{x1 , x2 } R0 = 240.
(b) u(x) = 4x1 x2 R0 = 10.
/ 151. , , .
9 . ., 2 . . 180 . . . 50%- . ,
. ( ) , .
/ 152. () , p1 + t, p1 .
. EV , , T , x1 (p1 )
.
(a) , EV T .
(b) EV T , .
(c) ,
. ?
/ 153. ?? ,
, ( ),
: u(x) = v(x1 ) + x2 . , , ri
i-
u(i 1, x2 (i 1)ri ) = u(i, x2 iri ).
(a) , n , p1
: rn > p1 > rn1 .
?
3.3.
(b) , v(0) = 0, v(n) =
ir
i,
107
CS = v(n) + R p1 n

(c) , ,
(
).
/ 154. , ?? l = 2, R0 = R1 = 100, p0 = (1, 1), p1 = (2, 1), . . .
(a) ;
(b) ;
(c) ;
(d) .
/ 155. , , ,
(R0 = R1 = 100, p0 = (0,5, 1), p1 = (1, 1)). .
/ 156. , , ( ) ,
, , .
/ 157. . .
(a) (x1 , p) .
(b) ,
(i) (ii) .
(c) ,
, (/
) (/)?
/ 158. . .
. , . . .
(a) ;
(b) ;
(c) ;
(d) ?
.
/ 159. , CS .
/ 160. [Laffont] , , , , R0 , p01 p11 . ,
.
(a) ( ). ,
R
x1 (p1 , R) = x1 (p1 , R )
R0
0
3.3.
108
(b) , ( ):
e
= x1 (p1 , e).
p1
(a), ,
, < 1, ,
e(p01 , x)1 e(p11 , x)1 = (1 )(R0 ) CS,
R p0
CS = p11 x1 (t, R0 )dt , 1

.
(c) e(p01 , x1 ) e(p11 , x1 ) R0 , . , < 1 , :

EV = R0 1 +
1
CS
R0
1
1
R0 .
(d) < 1,
e(p01 , x0 ) e(p11 , x0 ) R0 .
(e) = 1.
/ 161. [Laffont] , , , , R0 , p01 p11 .

v(p, R) = a(p) + b(p)R.
(a) CV
, ,
v(p11 , R0 ) v(p11 , R0 CV ) = v(p11 , R0 ) v(p01 , R0 ).

Z
R0
R0 CV
v(p11 , R)
dR =
R
p01
p11
x1 (t, R0 )
v(t, R0 )
dt,
R
.
(b) , ,
Z
CV =
p01
p11
x1 (t, R0 )
b(t)
dt.
b(p11 )
(c) ( p 1 R
=
,

R p1
), -
b(p1 )
x1 (p1 , R)
=
b(p1 ).
p1
R

b(p1 )
b(p11 )
R p1
p11
x1 (t,R0 )
dt.
R
3.A.
109
(d) , , :
Z
CV =
p01
p11
exp
p1
p11
x1 (t, R0 )
dt x1 (p1 , R0 )dp1 .
R
(e) ,
, :
R0
1 e R0 CS .
CV =
:
I(p1 ) =
CS(p11 , p1 )
p1
p11
x1 (t, R0 )dt
, x1 (p1 , R0 ) = I 0 (p1 ).
(f) , , ,
.
3.A
( ), , .
37:
X = Rl+ , ,
u() Rl++ ;
u(x) 6= 0 x > 0;
H(x) x > 0;
(x(p, R) > 0) p Rl++
R > 0.
,
(i) x(p, R) v(p, R)
p Rl++ , R > 0;
(ii) h(p, x) e(p, x) x p Rl++ , x Rl++ .
: 3.1.2, ,
,
. , . ,
p R :
u(x) p = 0;
px R = 0.
3.B.
110
(. ??) x(p, R)
= (p, R) ,

!
H(x(p, R)) p
,
p|
0
. p R
=
H
H(x) u(x)|
u(x)
0
x = x(p, R) (. 177).
.
, H
. y z , Hy + zu(x) = 0
u(x)y = 0, (y, z) 6= 0. y = 0 z 6= 0 , u(x) 6= 0.
y 6= 0, y | Hy + y | u(x) | z = y | Hy = 0, , H
.
, ,
. v(p, R) = u(x(p, R)),
, . v(p, e(p, x)) = u(x).

. , x(p, e(p, x)) = h(p, x),
.
178
x.

(, ) , .
,
(. 180).
3.B
, .
, p0 x0 ,
x X p0 x 6 p0 x0 . x
, x0 , . x 4 x0 . , p0
x0 p0 x 6 p0 x0 , , x
, x0 .
, , p0 x0 , p00
x00 , p0 x00 6 p0 x0 . x X p00 x 6 p00 x00 , x 4 x0 , x 4 x00 x00 4 x0 .
3.B.
111
p0 x 6 p0 x0 , x 4 x0 .
, x , x0 .
(p0 x > p0 x0 ) . x
( x00 ) , x0 .
. 3.11 . p0 x00 <
p0 x0 , x00 4 x0 , p00 x000 < p00 x00 , x000 4 x00 . , x000 4 x0 . ,
, x000 , (p0 , x0 ).
x2
x000
x00
x0
x1
. 3.11.

x p0 x < p0 x0 , x x0 .
x 4 x0 , , x x0 . ,
x, , p0 x0 (
p0 x). x
, x, , , x0 .
x
p0 x
< p0 x0 , . x0 x
0
0
0
p x < p x , , , x0 x 24 .
. (pi , xi ), i = 1, . . . , n,
pi , xi .
pi xj 6 pi xi , pj xk 6 pj xj , . . ., pr xq 6 pr xr
, i, j, k, . . . , q, r , xi < xj < xk < < xq < xr .
xi , xr . ,
xi ( xi xr ) (
) , xr . ()
.
xi xr .
pi xj 6 pi xi , pj xk 6 pj xj , . . ., pr xq 6 pr xr ,
, xi xr . . . xi xr .
( ) .
xi xr .
24
, .
p0 x 6 p0 x0 , , x0 x , .
3.B.
3.B.1
112
,
x X , (pi , xi ), i = 1, . . . , n,
,
xi (xi x xi x ).
L+ (xi ) ( , , xi ).
+ (xi ) , , xi .
L
+ (xi ). . .
, , L+ (xi ) L
.
. 3.12 , (p0 , x0 ), (p00 , x00 ), (p000 , x000 )
+ (x0 ). x0 , x00 x000 , ,
L
p0 x < p0 x0 , p00 x 6 p00 x00
p000 x 6 p000 x000 .
x2
p000
x000
p00
p0
x00
x0
x1
. 3.12.
,
,
. . 3.12 , x0 L+ (x0 ).
L+ (x000 ) , x0 , x00 x000 .
, ,
, . , . 3.12 L+ (x000 )
x0 , x00 x000 .
, , xj ,
(xj xi ), L+ (xi ) ,
, xj , , . . xj + Rl+ .
L+ (xi )
xj , xi , xj + Rl+ , , ,
(. . 3.13).
3.B.2
. 25 .
(p1 , x1 ), . . . , (pn , xn ) L+ (xi ) , xi . 25

. S. N. Afriat: The Construction of a Utility Function from Expenditure Data, International Economic
Review 8 (1967): 6777; A. Fostel, H. E. Scarf, and M. J. Todd: Two New Proofs of Afriats Theorem, Economic
Theory 24 (2004): 211219
3.B.
113
x2
x000
x00
x0
x1
. 3.13. L+ (x000 )
: ,
. , ,
. , , .
, ,
.
h, <, i X (p1 , x1 ), . . . , (pn , xn ) (xi X i), xi < x i = 1, . . . , n
x X , pi x 6 pi xi .
16 . . ,
, pi xi , pi xi .
, i, j, k, . . . , r i, pi xj 6
pi xi , pj xk 6 pj xj , . . . , pr xi 6 pr xr . ,
.
. , , pr xi < pr xr xi xi , . . xi xi
( ), . , . . , ,
, . 2 ( 17 . 47)
(GARP). ,
GARP 26 :
(p1 , x1 ), . . . , (pn , xn ) , pi xj 6 pi xi , pj xk 6 pj xj ,
. . ., pr xi 6 pr xr , .
, , , . 12 . 2 (.
26
(.
H. S. Houthakker: Revealed Preference and the Utility Function, Economica, 17 (1950): 159174) , ,
(SARP). . 39 . 50, ( ). GARP
.
3.B.
114
. 47) , GARP
{xi }i=1,...,n . X , -
X .
X .
, , , GARP, , .
38 ( ):
GARP, , , , .
: , , . .
, {xi }i=1,...,n ,

xi xj xi < xj ,
xi xj xi xj ,
, x1 < x2 < < xn .

aij = pi (xj xi ). aij 0 ,
i
x xj , , xi xj .
, aij 6= 0 i 6= j , . .
, pi x
xi . ,
.
, , u1 , . . . , un 1 , . . . ,
n
> 0, (
):
uj 6 ui + i aij i, j.
, a ajj = 0,
uj + j ajj 6 ui + i aij i, j.
,
u(x) = min{ui + i pi (x xi )}.
i
, ui xi :
u(xj ) = min{ui + i pi (xj xi )} = min{ui + i aij } = uj + j ajj = uj .
i
, xj , x pj x 6 pj xj , u(x) 6 u(xj ). ,
u(x) 6 uj + j pj (x xj ) 6 uj = u(xj ).
u(x), j .
, , , (
, i- xi ).
3.B.
115
.
n = 1 u1 1 ; ,
1 > 0.
u1 , . . . , un1 1 , . . . , n1 > 0, i = 1, . . . , n 1. n .
un ,
un 6
min
i=1,...,n1
{ui + i pi (xn xi )} =
min
i=1,...,n1
{ui + i ain }.
n ,
uj 6 un + n anj j = 1, . . . , n 1.
, n .
, x1 , . . . , xn1 ,
, xn . pn xj > pn xn j = 1, . . . , n 1, . . anj = pn (xj xn ) > 0
j = 1, . . . , n 1. ( , aij 6= 0
i 6= j .) anj > 0 j = 1, . . . , n 1, n ,
27 . n ,
n >
uj un
.
j=1,...,n1
anj
max
, , ,
, u(x) .

u(x) = min{ui + i pi (x xi )}.
i
ui
i pi (x
xi )
, .
, u(x) -,
.

. x
p
x
.
p
L(x, ) = u(x) +
p(
x x).
> 0,
6= 0),
( p
(
x, ) . ( > 0.) , x
p(
u(x)+
,
xx). , , u(), , xi u(x)+i pi (xi x)
i > 0. , x = xj
u(xi ) = u(xi ) + i pi (xi xi ) > u(xj ) + i pi (xi xj ).
: , pi > 0 i, X = Rl+ ,
u(x), , ,
ui + i pi (x xi ). , u(x)
.
27
anj = 0 - j ,
n .
3.B.
116
: , , (, )
.
: , , , -
, .
3.B.3
/ 162. (4, 6) (6, 6), (6, 3)

(10, 0). ?
/ 163. (1, 4) (2, 3).
, : (a) (5, 2), (b) (8, 1), (c) (15, 0)?
/ 164. (2, 1) (2, 2).
, : (a) (1, 5), (b) (5, 0), (c) (0, 5)?
/ 165. :
x(10, 10, 10) = (10, 10, 10);
x(10, 1, 2) = (9, 25, 15/2);
x(1, 1, 10) = (15, 5, 9)
(. . (10, 10, 10) (10, 10, 10) . .).

/ 166. pb
xb , t pt xt .

Pq =
pt xt
,
pt xb
Lq =
pb xt
.
pb xb
xt , xb (a) Pq > 1, (b) Lq > 1?

/ 167.
Pp =
pt xt
,
pb xt
Lp =
pt xb
.
pb xb
M t
t t
, . . M = ppb xxb . xt , xb (a)
Pp > M , (b) Lp > M ?
/ 168. : x1 = (5, 3), p1 = (1, 4),
x2 = (2, 2), p2 = (1, 3), x3 = (2, 5), p3 = (3, 1).
(a) , .
(b) , .
/ 169. p x1 , . . . , xn .
(a) ,
.
(b) , .
3.C. :
3.C
117
x(p, R) (, ). ,
. -, ( , ). -,
( ,
), . . . ,
( , , ,
).
,
,
. (, ,
), ,
.
.
, , ,
. , - . ( ),
, , ,
. .
3.C.1
u(x1 , . . . , xl ) = s(x1 , . . . , xl1 ) + xl .

, ,
, . ,
. ,
, , s(0) = 0.
. , s() , , . . x(p, R) > 0.
s
, x
= pi (i 6= l ) pl = 1.
i
s
, pl = 1. = 1, x
(x1 , . . . , xl1 ) = pi ,
i
i 6= l . , , ,
:
xi = xi (p1 , . . . , pl1 ) = xi (pi ), i 6= l.
, , , , pi (xl ) , l - / ??/.
:
s
= pi (x1 , . . . , xl1 ),
xi
, s().
i = 1, . . . , l 1.
3.C. :
118
25:
l = 3 :
1
x1 (p1 , p2 ) = q
,
p31 p2
1
x2 (p1 , p2 ) = q
.
p1 p32

3/4 1/4
x2 ,
1/4 3/4
p1 (x1 , x2 ) = x1
p2 (x1 , x2 ) = x1 x2
( ?? .)
s
1/4 3/4
= x1 x2 ,
x2
s
3/4 1/4
= x1 x2 ,
x1
1/4 1/4
s(x1 , x2 ) = 4x1 x2
+ const.
s(0, 0) = 0, .
:
1/4 1/4
u(x1 , x2 , x3 ) = 4x1 x2
+ x3 .
, ( ), , . .
u(x1 , . . . , xl ) =
l1
X
si (xi ) + xl .
i=1
,
(x(p, R) > 0), ,
s0i (xi (p)) = pi .
, , pi (xi ).
, . . xi (p) = xi (pi ).
s0i = pi (xi ), si ():
Z
xi
si (xi ) =
pi (t)dt + si (0).
0
,
si (xi ) = CSi (xi ) + si (0)
u(x1 , . . . , xl ) =
l1
X
CSi (xi ) + xl + const.
i=1
, ,
( ) .
3.C. :
119
.
v(p, R)
pi
v(p, R)
= xi (p, R)
R
.
, ,
v(pl , 1, R) = s(x1 (pk ), . . . , xl1 (pl )) + R
l1
X
pi xi (pl ).
i=1
= 1, v(p,R)
R. , l 1 v(p,R)
R
pi
p1 , . . . , pl1 , (
) v(, ). .
,
v(p, R) =
l1
X
si (xi (pi )) + R
l1
X
pi xi (pi ).
i=1
i=1
:
xi (pi ) =
v(p, R)
vi
=
(pi ),
pi
pi
vi (pi ) = si (xi (pi )) pi xi (pi ), , ,
pi
vi
(t)dt =
pi
xi (t)dt,
pi
vi (pi ) lim vi (pi ) =

pi +
xi (t)dt,
pi
vi (pi ) =
xi (t)dt + const.
pi

:
Z
CSi (pi ) =
xi (t)dt.
pi
v(p, R) =
l1
X
i=1
vi (pi ) + R =
l1
X
CSi (pi ) + R + const.
i=1
, p R, : u(x(p, R)) = v(p, R).

,
.
.
3.C. :
3.C.2
120
, . p,
x X h X ,
p. x
h p, . . ph.
. 3.14 . x0 . h0 p ( ,
h0 ). h00 , x00 . x0
, x00 , ph0 , x00 ,
ph00 .
x2
h0
h00
x0
x00
x1
. 3.14.
,
(. 26 . 77). , (. 26),
p e(p, x) = ph(p, x) = px(p, e(p, x))
:
x < y e(p, x) > e(p, y).
,
, , , , , . .
. ,
() .
, ( 29)
e(p, x)
= hi (p, x),
pi
h(p, x) x(p, e(p, x)). ,
e(p, x) x:
e(p, x)
= xi (p, e(p, x))
pi
p e(p, x) = x(p, e(p, x)).
()
3.C. :
121
e(p0 , x) = R, p0 ,
R x, . . , x = x(p0 , R).
, x
e(p, x) p, . .
, , p
, , x.
, ( , ). . e(p)
(),
. , l l S(p, R) Sij (p, R) =
xi (p,R)
(p,R)
+ xiR
xj (p, R) ( ) . ,
pj
() , , S
e(). ( ).
, S , ().
( ). , ,
p0 , R, . , , . ,
, 28 .
26:
e(p, x) x(p, R) =

Rp2
a2 Rp1
;
p1 p2 +a2 (p1 )2 (p2 )2 +a2 p1 p2
. , , , .
:
ep2
e
=
p1
p1 p2 + a2 (p1 )2
a2 ep1
e
=
p2
(p2 )2 + a2 p1 p2
, p1 , p2 x .
, . ,
p2
p2
1
a2
p1 p2 +a
2 (p )2 p p +a2 (p )2 = p p +a2 p . ,
1
1
1 2
1
2
1
Z
Z
Z
de
dp1
a2 dp1
=
+ const.
e
p1
p2 + a2 p1
,
ln(e) = ln(p1 ) ln(p2 + a2 p1 ) + const,
e=A
p1
,
p2 + a2 p1
A p2 x, :
A = A(p2 , x).
28
. L. Hurwicz and H. Uzawa: On the Integrability of Demand Functions, in Preferences, Utility and Demand:
A Minnesota Symposium, J. S. Chipman et al. (ed.), New York: Harcourt, Brace, Jovanovich, 1971: 174214.
,
{ p | p0 6 p 6 p00 } R+ , p0 < p00 , p0 , p00 Rl++ ,
p Rl++ .
3.C. :
122
e(p, x) A:
A
p1
p1
p1
a2 p1
=
A
p2 p2 + a2 p1
(p2 + a2 p1 )2
(p2 )2 + a2 p1 p2 p2 + a2 p1
A
a2 p1
1
1
=A
+A
=A .
2
2
2
p2
(p2 ) + a p1 p2
p2 + a p 1
p2
dA
dp2
+ const.
=
A
p2
, : A(p2 ) = Bp2 , B ,
x, ,
. . A(p2 , x) = B(x)p2 .
, :
p1 p2
e(p, x) = B(x)
.
p2 + a2 p1
Z
B(x), .
, x ( ,
p(x, R)).
x1 =
Rp2
p1 p2 + a2 (p1 )2
x2 =
a2 Rp1
(p2 )2 + a2 p1 p2
p1 p2 .

x1
p2
=
,
x2
ap1
p1 x1 + p2 x2 = R.
r
p1 p2 , ,
p1 =
x1 ( x1 + a x2 )
p2 =
aR
.
x2 ( x1 + a x2 )
, R:
p1 p2
= R.
B(x)
p2 + a2 p1
B(x):
B(x) =
R(p2 + a2 p1 )
= x1 + a x2 .
p1 p2
, :
p1 p2
e(p, x) =
( x1 + a x2 ).
2
p2 + a p1
, . x,
.
B(x) = x1 + a x2 ,
.
, , ( ) p2 = 1 .
4
3.C. :
3.C.3
123
, (
) (
) ,
p R.
, ,
. , u(x1 , x2 ) = min{2x1 x2 , 2x2
x1 } , x1 (p, R) = x2 (p, R).
, (x1 , x2 ) ,
x1 6= x2 .
, , , , , , v(p, R) =
e(p0 , x(p, R)). (. ?? . ??).
(q; p, R) e(q, x), .
:
, , ,
. . . v(p, R) = u(x(p, R)) .
, , ,
. ,
, . .
u()
, X
X , () X
++
, P R , P

. X\X
, , ,
.
x X\X
. X
. x
= x(p, R) p R.
x
x , ,
.
x , x
. , , x , x
u(x) 6 u(
x) = u(x(p, R)). ,
u(x) 6 v(p, R) , px 6 R.
u(x):

u(x) 6 inf v(p, R) p P, px 6 R .

( v(p, R) ,
R , ,
R = 1.)
,
, ,
u (x) = inf v(p, R) p P, px 6 R .

3.C. :
124
, x :
v(p, R) inf
pP
()
px 6 R.
, , .
, ,
. , ( )
, . , , , .
, ,
.
, u (x) . ,
. , u (x) > u(x), u (). x ,
( x
), u(x) u (x).
.
27:

u(x1 , x2 ) = min{2x1 x2 , 2x2 x1 }.
( u(x1 , x2 ) =
R
min{x1 , x2 }) v(p, R) = max{p
. u (x) P = R2++ , . . 1 ,p2 }

R
inf
p1 ,p2 >0
max{p1 , p2 }
p1 x1 + p2 x2 6 R.
(x1 , x2 > 0). pi 6 xRi , max{p1 , p2 } 6 min{xR1 ,x2 } . ,
u (x1 , x2 ) > min{x1 , x2 }. , , . , , x1 > x2 .
{(pn1 , pn2 )},

R 1
R
1
n
n
p1 =
, p2 =
1
.
x1 2n
x2
2n
pn1 6 pn2 ,
v(pn , R) =
R
R
x2
.
= n =
n
n
1
max{p1 , p2 }
p2
1 2n
, u (x1 , x2 ) = x2 = min{x1 , x2 }. x1 6 x2 u (x1 , x2 ) = x1 =

min{x1 , x2 }.
xi = 0, pni = n,
u (x1 , x2 ) = 0 = min{x1 , x2 }. , u (x1 , x2 ) = min{x1 , x2 }
x.
4
3.C. :
125
, , : -, u (x) = u(x)
x , -, u ()
, .
39:
u() , v(, )
, u () ()
p
P
. , x
> 0, . . x
:
x(
R
p, R).
u(
() c x = x
R = R,
(i) p
x) =
v(
p, R) = u (
x).
u ()
(ii) x
> 0.
P R
p
: (i) p P ,
. . p
, , , x
R = R,
x 6 R.
() c x = x
p R.

x(p, R),
, x
. . u(
6 v(p, R).
, p

p R,
x) 6 u(
x), v(
p, R)
= u (
R = R. , , v(
() c x = x
p, R)
x).
, (ii) x
p
() x = x
R:
x
6 R.
c R = R.
p
, u (
p
x) .
u (
v(
p, R) > u (
x). , u (
x) = v(
p, R),
x) > u (
x).
3.C.4
()
, .
, , (. .
). , x(p, R)
P R++ , P Rl++ (,
Rl . ,
P = Rl++ ), X
, :
o
x(p, R) .
x(p, R) (p, x(p, R)) = R ( ).

xi xi
+
xj
pj
R
.
i,j
29 .
29
, , ,
(. 3.3.1).
.
3.C. :
126
,
X . , , . .
, ( ,
), .
, ,
,

,
. .
40:
x(p, R) ,
(px(p, R) = R),
xi
pj
xi
R xj i,j ,
, x(p, R)
.
: - fi (t) = xi (tp, tR), i .
t > 0 , (
(tp, tR)
):
fi0 (t) =
X xi
j
pj
X
j
pj +
X xi
xi
xi
R=
px =
pj +
R
pj
R
j
xi
xi
pj xj
pj +
pj
R
X
j
pj
xi xi
xj
+
pj
R
=
X
j
pj
X
j
pj
xj
xj
xi
+
pi
R
X xj
xj
+ xi
pj
= xi + xi = 0.
pi
R
j
pj pji + xi = 0
j pj Rj = 1,
(. 33 . 89). , fi (t) , , t ,
fi (t) = fi (1), x(tp, tR) = x(p, R) = t0 x(p, R). ,
x(p, R) .

P
, . , , ,
,
P X
p e(p, x) = x(p, e(p, x))
e(p0 , x) = R, p0 , x x(p0 , R).
e(, ) :
e(p, x) p.
e(p, x) p.
e(p, x) p, .
e(p, x) p, .
3.C. :
127
p e(p, x) = e(p, x0 ),
p0 , . . e(p0 , x) = e(p0 , x0 ). ( , .)
, q P
u(x) = e(q, x) x(p, R) . . , , . . , .
41:
p P
x, x0 X
e(p, x) > e(p, x0 ).
q P :
e(q, x) > e(q, x0 ).
: , p P e(p, x) =
e(p, x0 ), , , .
, p P e(p, x) > e(p, x0 ). ,
, q P , e(q, x) < e(q, x0 ).
f (t) = e(p + t(q p), x) e(p + t(q p), x0 ). ,
e(, ). , f (0) > 0 > f (1),
P ,
t, f (t) = 0. q
e(
q, x) = e(
q, x0 ). ,
, . . e(p, x) = e(p, x0 ). .

, e(p, x) p,
p P . e(, ),
e(p, x) = pp e(p, x) x X
x p, . . x = x(p, px), x = p e(p, x) (
, e(p, x) = px). e(, )
.
42:
p0 P e(p0 , x) 6 p0 x.
x X
, x = x(p, R) : x X
p P R > 0. e(, ) , e(, )
,
e(p0 , x) 6 e(p, x) + (p0 p)p e(p, x),
, e(p, x) pp e(p, x),
e(p0 , x) 6 p0 p e(p, x).
x, .
. e(, ) . e(p0 , x) p0 , x.
x , , , e(p0 , x) 6 p0 x.
3.C. :
128
, e(p0 , x) 6 p0 x
. , 42, , ,

, . ,
42 , , , , . .
, , .
. p0 P ,
x0 X
x0 = x(p0 , p0 x0 ). , X
, e(, )
, p0 , e(p0 , x0 ) , x0
. , x0
e(p0 , x) max
0
xX
0
p x 6 e(p , x ).
, p0 x 6 e(p0 , x0 ).
, x X
p0 x > e(p0 , x), , , e(p0 , x0 ) > e(p0 , x).
,
e(q, ) q P . , e(q, )
. , x(p, R)
x(, ) X
:
e(q, x) max
xX
px 6 R.
, S (. . ),
, , .
3.C.5
/ 170. u() , , Rl+ , v()

. , u () (),
u (x) = u(x) x Rl++ .
: (. 54 . 149).
L++ (x) = { y | y x } x. , p . p ().
/ 171. u(x) . ,
() u (x).
? :
P
(a) u(x) = lk=1 k ln(xk ); (b) u(x) = mink {k xk };
(d) u(x) = 3 x1 x2 + x3 .
(c) u(x) = x21 + x22 ;
3.D.
129
/ 172.
.
/ 173. ,
(, , ), u (x). ? , u (x).
?
/ 174.
x1 (p1 , p2 ) = abp1 /p2 ( ). .
/ 175. , ,
.
/ 176. ??? 112 . 84
3.D
,
() . , , ,
.
,
, , .. . . , n , xi (p, Ri ).
P
,
xi (p, Ri ), , .
(R1 , . . . , Rn ) , P
dRi , dRi = 0.
P dxi (p,Ri )
:
dRi .
dRi
P
P
, . .
xi (p, Ri ) = x(p, Ri ) P dxi (p,Ri )
0, . .
dRi = 0
dRP
i

dRi = 0.
dxj (p,Rj )
(p,Ri )
dxidR
=
.
dRj
i
.
43:

xi (p, Ri ) , . .
P
P
xi (p, Ri ) = x(p, Ri ) ,
<.
: , xi (p, Ri ) . ,
P
P
P
. ,
x(p, Ri ) =
Ri x(p, 1) = ( Ri )x(p, 1) =
P
x(p, Ri ).
3.5.
130
, x(, ), xi (p, Ri ) =
P
x(p, Ri ) p, R1 , . . . , Rn . i Ri = R, Rj = 0, j 6= i. x(p, R) = xi (p, R), ,
. , , x(, ),
, , x(, ) R.
, , , x(p, R1 + R2 ) = x(p, R1 ) + x(p, R2 ).

P
,
, , .

.
.
3.5
/ 177. ,
!
=
H
H(x) u(x)
u(x)|
0,
x = x(p, R), H , (
) .
(. 37.)
/ 178. 37, ,
x.
/ 179. u(x) = x31 x2 + x1 x32 . ( , , .)
/ 180. 37,
H() .
u(x) , x
z | H(x)z < 0 z , zu(x) = 0 z 6= 0, H() = 2 u()
.
/ 181. , , , ,
.
/ 182. , ,
, .
/ 183. :
x1 =
p2
,
p3
x2 =
p1
,
p3
x3 =
R
.
p3
(a) .
3.5.
131
(b) ,

/ 184. , ,
.
??
4.1
l .
.
, , .
,
. , , ,
0. , ,
, .
, . . .
n, m, l = m + n. ( ) r Rn+ ,
o
y Rm
+ . (r, y ) . y = (r, yo )
Y . ,
Rn Rm
+.
.
:
, . Y Rl .
,
.
1.
Y .
.
2.
Y .
; ,
, .
3. :
y Y y0 6 y, y0 Y.

, , .
4. (no free lunch)
y Y y > 0, y = 0.
132
4.1.
133
, .
y2
y1
. 4.1. .
5. :
y Y y0 = y, 0 < < 1, y0 Y.
( ) .
, , , ,
( ) . 5 ,
10 .
5 0 . :
y Y y0 = y, > 1, y0 Y.
, , , , ( ) .
5 00 . , 5 5 0 , . .
y Y y0 = y0 , y0 Y > 0.
, Y (,
0).
, , , , .
y2
Y
y1
. 4.2.
.
4.1.
134
6. :
y0 , y00 Y 0 < 6 1, y0 + (1 )y00 Y.
.
7.
y Y y 6= 0, (y)
/ Y.
5 . ,
5- .
8. .
y Y y0 Y , y + y0 Y.
.
9. :
0 Y.
44:
1)
.
2) . ( :
, . . 4.3.)
3)
, .
: .
y2
Y
y1
. 4.3. .
.
. y
, ( )
y0 , y0 > y . ,
, .
.

. , y
y0 , y0 > y . ,
, , ,

, . ,
4.1.
135
y2
Y
y1
. 4.4.
,
.
, , . , .
, ,
. . m = 1.
R Y ,
. .
R = { r Rn | y o R : (r, y o ) Y } .
37:
f () : R 7 R , Y , r R f (r) :
y o max
o
y
(r, y ) Y.
,
(r, f (r)). , f (r) . y o =
f (r) .
,
??? .
45:
Y R (R) r R
F (r) = { y o | (r, y o ) Y }
. Y .
: F (r) , f (r) F (r) , f (r) > y y F (r).

: , ,
Y .
4.1.
136
46:
Y . r R
F (r) = { y o | (r, y o ) Y }
.
: F (r) Y .
, F (r) . r R {yn }, yn F (r).
(r/yn , 1) Y . ( ), (0, 1) Y , .

, Y , f (),
Y :
Y = { (r, y o ) | y o 6 f (r), r R } .

.
47:
Y , r R f (). .
1) Y , f () .
2) Y , , . . f () , Y .
3) Y , f () R.
4) Y , f ()
.
5) Y , f (0) 6 0.
6) Y , f (0) > 0.
: (1) r0 , r00 R. (r0 , f (r0 )) Y (r00 , f (r00 )) Y ,
(r0 (1 )r00 , f (r0 ) + (1 )f (r00 )) Y [0, 1],
Y .
f (r0 ) + (1 )f (r00 ) 6 f (r0 + (1 )r00 ),
f ().
(2) Y ,
Y ( ) .
.
(3) , .
(4) r00 > r0 (r0 , r00 R). (r0 , f (r0 )) Y , (r00 , f (r0 )) Y . , , f (r00 ) > f (r0 ),
f () .
(5) f (0) > 0 . , f (0) 6 0.
(6) (0, 0) Y . ,
, f (0) > 0.
4.1.
137

. .
. r, f (r) > 0,
e(r) :

df (r)
.
e(r) =

d f (r) =1
e(r) 1, ,
, 1 , .
:
f (r)
i ri ri
e(r) =
f (r)
48:
Y f ()
r e(r) > 0. :
1) Y , e(r) 6 1.
2) Y
, e(r) > 1.
3) Y , e(r) = 1.
: (1) {n } (0 < n < 1), n 1.
(n r, n f (r)) Y , , f (n r) > n f (r).
:
f (n r) f (r)
6 f (r).
n 1
,

X f (r)
df (r)
=
ri 6 f (r).

d =1
ri
i
, e(r) 6 1.
(2) (3) .
Y
g(). , g() ,
y Y , g(y) >
0.
, . , ,
g(y) = 1 y Y g(y) = 1 y
/ Y . , ,
. ,
, - . ,
, , ,
( ) ,

. ,
4.1.
138
,
g(y) > 0. , , . . .
() : , ,
,
g((r, y o )) = f (r) y o .
4.1.1
/ 185. :
y1 6 ln(1 y2 ), y2 < 1.
?
/ 186. 44.
/ 187. (5, 4), (4, 0) (2, 2) Y . , (3, 2) Y , , Y ?
, , Y .
/ 188. (5, 4), (4, 0) (2, 2) Y . , (2, 1) Y , , Y ?
, ,
Y .
/ 189. (8, 10), (2, 3) (4, 2) Y . , (5, 5)
Y , , Y ?
, ,
Y .
/ 190. . ,
, .
/ 191. , Y Rl+ Y ,
.
/ 192. , y Y {i },
y + i Y .
(a) , Y ,
. , Y , Rl+ .
(b) , Y , 0 Y . ,
Y ,
Y > 0.
(c) , Y , Y + = Y .
4.2.
4.2
139
, , , .
y Y : py . , ,
, p,
:
3.
py max .
yY
, ( ),
.
y2
p2 /p1
y1
. 4.5.
, 3, P .
38:
y(p) , p P . , .
39:
,
p P 3:
(p) = py(p).
( 3) (
1) , Y , , .
,
,
.
28 (( )):

Y = { (y1 , y2 ) | y1 6 0, y2 + y1 6 0 } ,
p1 , p2 . y2 = y1 , (p2 p1 )y1 .
p2 > p1 , , .
4.2.
140
p2 < p1 , y1 = 0 y2 = 0. p2 = p1 ,
(y1 , y2 ), y2 +y1 = 0.4
,
p Y .
() : Y 0 ,
Y0 Y
Y Y 0 Rl+ .
Y0
Y0
()
Y 0 R2+
. 4.6. ,

( . 5), Y 0 ,
, , Y .
49:
(). 3 .
: , Y
Y 0 . y Y y
/ Y 0 .
0
0
0
() y Y , y y >6= 0. ,
, , y . ,
y Y 0 .
Y 0 , py y ,
3 Y 0 .

, , . ,
(f (K, L) = K L , + < 1) , .
,
. ,
.
.
Y .
( ), Y > 0.
4.2.
141
. . ( ,
):
= { p | p < 0 : 6= 0 } .
P
.
50:
Y , 3 .
. p P
, 3 .
: p P
{yi },
kyi+1 k > kyi k
lim pyi = sup py.

yY
, yi 6= 0. yi /kyi k.
.
. , y
.
{
yi }, y

y
y .
, ,
/ Y .
i
, yi , , i Y .
y .

y Y . , y
.
,
, p
p P y
y < 0. , i
p
yi < 0, lim pyi = . C , Y ,
supyY py > .

,
Rl , ( )
. ,
.
() .
51 (( (p) )):
1) (p) 1- :
(p) = (p) p int P.
2) , (p)
P ( , 3
).
3) (p) P , int P .
4) Y , (p) p
int P .
: 1) .
2) (). p, p0
p = p + (1 )p0 (0 < < 1).
4.2.
142
, y = y(p ):
py 6 (p), p0 y 6 (p0 ).
1 ,
:
(p ) 6 (p) + (1 )(p0 ).
() , , , , () () py , y Y .
3) () int P , , ,
.
4) () ,
y(p) , (p) = y(p).
y(p) int P , (p) int P .

, ,

, , .
52:
() p int P .
(p)
= yk (p).
pk
int P . : p
k - pk .
k , . .
pk , p
k (pk ) = (
pk , pk ) = (
p1 , . . . , pk1 , pk , pk+1 , . . . , pl ).
= y(
y
p),
(pk ) = pk yk +
ps ys .
s6=k
pk .
y
, , k (
, (
p) = p
pk ) = (
pk ). ,
= y(
, y
p) , . . k (pk ) > (pk ). ,
(pk ) k (pk ) pk ( A . 4.7).
,
(
p)
= k0 (
pk ) = 0 (
pk ) = yk ,
pk
.
53 (( )):
() y(p) .
4.2.
143
A
(
pk , pk )
X
pk yk + ps ys
s6=k
pk
pk
. 4.7.
Y , y(p) p P ,
y(p) p int P .
() , M = {ys /pk } y(p) ,
p int P .
: .

, :
po f (r) wr max,
rR
po , r , w .
po y o wr.
r(w, po ) (w, po ),
o
y (w, po ) (w, po ). ,
po > 0, y o (w, po ) = f (r(w, po )).
:
(w, po ) = po f (r(w, po )) wr(w, po ).
.
p = (w, po ) y(p) = (r(w, po ), y o (w, po )).
, , ,
, .
r (r int R) , r :
po
f (r)
= wk k K.
rk
. . .
po f (r) = w.
4.2.
144
po > 0 :
f (r)
wk
= o,
rk
p
. . ( ).
, R r > 0.

f (r)
po
6 wk ,
rk
( )
po
f (r)
= wk , rk > 0,
rk
rk = 0, po
f (r)
< wk .
rk
,
.
:
(w, po )
= f (r(w, po )),
po
(w, po )
= rk (w, po ).
wk
,
g(), .
,
g(),
py max
y
g(y) > 0.
g()
.

X
L(
y, ) =
pk yk + g(y),
kK
, .
( ,
, g(y) 6= 0) > 0,
,
, y
L(
y, )
= 0 k K,
yk
g(
y)
= pk k K.
yk
4.2.
145
,
g(
y) = p,
.
(p 6= 0), > 0. ,
k, s K , pk 6= 0, ,
ps
g(
y)/ys
=
.
pk
g(
y)/yk
, .
,
, , g() .
4.2.1
/ 193. ,
.
/ 194. , ,
. , ,
.
/ 195. ,
, ,
.
/ 196. , Y , .
. (: . ).
/ 197. 53.
/ 198. , f () , , ,
f (0) = 0, .
/ 199. ,
, .
,
, .
/ 200. r(w, po ) , y o (w, po ) = f (r(w, po ))
, H = 2 f (r)
f (r). :
y o
1
r
1
= o f H1 f,
= o H1 f,
o
o
p
p
p
p
y o
1
r
1
= o H1 f,
= o H1 .
w
p
w
p

.
.
4.2.
146
/ 201. :
y1 6 ln(1 y2 ), y2 < 1.
() y1 , y2 .
.
/ 202. , f (r) = r , :
- ,
- ,
- ,
,
- ( , po ,
, w ),
- ,
-
/ 203. ,
:
Q
() f (r) = i rii , i > 0 ( ),
P
() f (r) = i ai ri ,
Pn1
() f (r) = i=1 fi (ri ) + rn .
? ,
.
/ 204. , , ,
.
/ 205. , ,
.
/ 206. , ,
.
/ 207. , ,
.
/ 208. ,
,
. ,
- , ;
- () ;
- ;
- .
/ 209. ,
.
/ 210. ,
.
/ 211. , , .
4.3.
4.3
147

. (pi , yi ), i = 1, . . . , n : pi
yi . - pi pi yj >
pi yi , yi pi .
.
pi yj 6 pi yi i, j , (pi , yi ), i = 1, . . . , n
. , , .
.
(1)
y
(2)
y
y2
y
Y1
Y2
y3
y3
(3)
y1
(4)
y1
y2
y2
Y4
Y3
y3
y3
y1
(5)
Y5
y2
y3
. 4.8. Y
4.3.
148
, , , yi , . .
Y1 = {y1 , y2 , . . . , yn }.
Y Y2
y1 , y2 , . . . , yn ( , ).
, Y
Y1 Rl+ :
Y3 = Y1 Rl+ ,
Y2 R+ :
Y4 = Y2 Rl+ .
, :
Y5 = { y | pi y 6 pi yi , i = 1, . . . , n } .
n = 2 . ,
, . ,
Y1 Y2 Y4 Y5
Y1 Y3 Y4 Y5 .
, , ,
Y5 (. . ).
, , .
, y(p), P , , y(p)
p. y(p)
(p)
Y .
, y Y , py > (p)
p, Y . y
??
Y =
{ y | py 6 (p) } = { y | py 6 (p) p P } .
pP
, Y Y (. .
, ), y(p)
Y p P . ,
Y p P (p).
, () ,
.
: Y Y ,
? .
Y
P , .
Y Y , Y
( ),
4.3.
149
Y ( . 4.8.1 4.8.3). , ,
P ,
.
, P = Rl++ . Y Y ,
Y , , Y
( . 4.8.1 4.8.2).
54:
Y , , . P = Rl++ Y .
: Y Y , , Y Y .
, Y .
y
,
Y y
, , q ,
, p
y
>q>p
y y Y.
p
. ,
, p
.
, pi < 0. y0 Y y0 ei > 0,
ei (i- 1, ).
y0
Y , Y . p
pi
y
>p
y y Y . ,
. , p
> 0.
p
, , + p0 , p0 Rl++ .
. , p
0
p y y Y (p0 ), ,
,
(
p + p0 )
y > (
p + p0 )y y Y.
> 0, p
y
>p
y y Y . ,
, p
y
> (
p
p), , , y
/ Y .
, , Y , Y .
, Y Y .

y2
y
Y
y1
. 4.9.
. 4.10 , (Y Y ) , , Y
.
4.3.
150

y2
y2
y1
Y
y1
. 4.10. , Y .
: (p) y(p),
P , ,
?
, ,
. , , (p) .

Y = { y | py 6 (p) p P } .
:
(1) (p) ,
y(p)
.
(2) y(p) , (p)
.
(3) (p) ,
, (p) .
.
, (p) , y(p) .
(p):
(A1) ;
(A2) ;
(A3) () ( , ).
y(p):
(B1) ,
(B2) M = {ys /pk } , .
.
4.3.
151
55:
(1)
yk (p) =
(p)
,
pk
(p) (A1), (A2), (A3).

y(p) = (y1 (p), . . . , yl (p)) (B1), (B2)
- .
(2) y(p) (B1), (B2).
(p) = py(p) (A1), (A2), (A3).
(3) (p) (A1), (A2), (A3).
Y = { y | py 6 (p) p > 0 } (p).
: (1) (A1)-(A3) (B1)-(B2).
(p) , y(p)
.
y(p) (p).

. (p) ,
2 (p)
2 (p)
=
.
ps pk
pk ps
(p)
y(p).
yk
ys
=
.
pk
ps
( rMr > 0 r
Rn ) ( )
.
(2) (B1)-(B2) (A1)-(A3).
P
(p) = py(p) = pk yk (p) pk :
l
l
X
X
(p)
ys (p)
yk (p)
ps
ps
= yk (p) +
= yk (p) +
.
pk
pk
ps
s=1
s=1
y(p). y(p)
,
l
X
s=1
ps
yk (p)
= 0.
ps
,
(p)
= yk (p).
pk
(1) .
(3)
y(p) = (p).
4.3.
152
(p) y(p) ,
(p) = py(p).
py(p) = (p), y(p) p py(p)
, py y Y . , p > 0
y(p) Y = { y | p0 y 6 (p0 ) p0 > 0 }, ,
(p) , Y .
, p0 y(p) 6 (p0 ) p, p0 > 0.
(r)
, . . :
(r0 ) > (r) + (r)(r0 r).
(p) ,
(p0 ) > (p) + (p)(p0 p).
(p) = y(p) py(p) = (p),
(p0 ) > (p) + y(p)(p0 p) = y(p)p0 .
4.3.1
/ 212. , (1, 2) (1, 1),

(2, 1) (1, 1). ?
/ 213. , (3, 2) (2, 1),
(2, 3) (1, 2). ?
/ 214. , (1, 4) (4, 3), (1, 1) (0, 0), (2, 1) (3, 4).
, (1, 2) ?
/ 215. , (1, 4) (4, 3), (1, 1) (0, 0), (2, 1) (3, 4).
, (9, 4) ?
/ 216. . ,
, .
/ 217. , po y o wr > 0.
/ 218. , ,
, .
?
/ 219.
(p) = p1 (ln
p1
1) + p2 .
p2
, .
.
4.4.
153
/ 220.
(w, po ) = po 1 /w
w 1 (po ) 1 .
, .
. .
4.4
, .

, . ( ), . () . ,
, ( ) ( )
, . ,
,
, ,
.

, .

y ( yo ). , r .
4.4.1
40:
y V (y) , Y , . .
V (y) = { r | (r, y) Y } .
Y V (y) V ():
1. Y V (y):
2. Y V (y):
r V (y), r0 > r r0 V (y).
, , , .
V (), . . V (y):
y 6 y0 V (y0 ) V (y).
V (y), Y ,
:
V (y) = { r | f (r) > y } .
, (y R) V ()
:
f (r) =
max y.
y: rV (y)
4.4.
154
r2
V (y0 )
V (y)
y<y
r1
. 4.11. V ()
56:
V () , , V (y) , .
: .

V (y)
Q(y) = { r V (y) | r
/ V (y 0 ), y 0 > y } .
r, y ,
y . , Q(y) V (y).
,
Y = { (r1 , r2 , y) | y 6 r1 r21 } ,
V (y) = { (r1 , r2 ) | y 6 r1 r21 } ,
Q(y) = { (r1 , r2 ) | y = r1 r21 } .
, w (
p, r).
4.4.2
3
4.
wr min
r
r V (y).
, 4
y , W (y).
41:
c(w, y) 4; y w W (y)
, y .
4.4.
155
r2
V (y)
Q(y)
r1
. 4.12.
y 6 f (r),
4 :
wr min
r
y 6 f (r).
.
57 (( c(w, y) )):
c(w, y)
(1) :
c(w, y) = c(w, y) y, w W (y);
(2) ????;
(3) W (y);
(4) W (y), int W (y).
: (1), (3) (4) .
.
w0 >6= w c(w0 , y) > c(w, y) w, w0 W (y).
r > 0 w y , . . wr = c(w, y).
w0 >6= w , , c(w, y) = wr < w0 r 6 c(w0 , y).

.
42:
r(w, y)
4 y w .
,
Y .
58 (( )):
1) r(w, y) w .
2) V (y) , r(w, y) w .
4.4.
156
: .

, , , , .
59:
y .
w int W (y)
c(w, y)
= ri (w, y)
wi
w c(w, y) = r(w, y).

int W (y).
: w
W (y):
y).
(w) = c(w, y) wr(w,
(w) :
, , w
= 0.
(w) 6 0 (w)
, () W (y), . w
:
= w c(w,
y) r(w,
y) = 0.
(w)
, .
. , ,
:
py c(w, y) mino .
yY
p , Y o ,
( ,
y ):
Y o = { y | r : (r, y) Y } .
. , (. . y
int Y o ),
, , y
:
)
c(w, y
= pk k,
yk
, ,
) = p.
y c(w, y
4.4.
157
, ,
.
() p
. y
w .
( ).
4.4.3
c(w, y) :
Vc (y) = { r | wr > c(w, y) w > 0 } .
y .
, ,
:
Vc (y) = Vc (y) + Rn+ ,
()
. . r Vc (y) r0 > r, r0
Vc (y).
, V (y) Vc (y)
, V (y) ???.
60:
V (y) () . V (y) = Vc (y).

: .

, V (y) Vc (y) ,
, Vc (y)
, V (y).
61:
c (w, y)
wr min
r
r Vc (y).
c (w, y) = c(w, y).
: .

,
Y Y , (p) (p).
Vc (y), c(w, y). Vc (y) V (y)
, V (y) . V () .
4.4.
4.4.4
158
/ 221. c(y, w) = y 1/2 (w1 w2 )3/4

3
3
3
/ 222. c(y, w) = (y + 1/y)(w1 w2 )1/2
3
3
3
/ 223. c(y, w) = y(w1 (w1 w2 )1/2 + w2 )
3
3
3
/ 224. c(y, w) = y(w1 + w2 )
3
3
3
/ 225. c(y, w) = y min{w1 , w2 }
3
3
3
/ 226. c(y, w) = y(aw1 + bw2 )
3 a b;
3 a b;
3 a b

/ 227. c(y, w) = y min{aw1 , bw2 }
3 a b;
3 a b;
3 a b

/ 228. c(y, w) = yw1a w2b
3 a + b
3 a b, a+b
3 a b, a + b
/ 229. y
ar1 + br2 > y 2 a, b > 0.
?
.
/ 230. :
Q
) f (r) = i rii , i > 0,
4.5.
159
) f (r) = i ai ri ,
) f (r) = min{ri /ai },
P
) f (r) = i ai ri .
/ 231. ,
f (r). :
P
wr minr
y 6 f (r)
f (r) maxr
wr 6 c
:
I. r . r
c = wr .
II. r . r
y = f (r ).
/ 232. , f (r)
c(w, y). , :
py wr maxy,r
y 6 f (r)
py c(w, y) maxr
/ 233. , , , ( ).
/ 234. 56.
/ 235. 57.
/ 236. 58.
/ 237. 60.
/ 238. 61.
/ 239. , , , c(0) = 0. ,
,
.
/ 240. , f (r) = r , . ,
y .
/ 241. ,
, .
/ 242. , ,
.
/ 243. , ,
.
4.5
n Yj , j = 1, . . . , n.
, Y ,
(
) , n
.
4.5.
160
, :
Y =
Yj ,
. .
Y = {
yj | yj Yj } .
62:
(1) p yj j - ,

X
=
j
y
y
j
.
(2) , y ,
yj ,
.
: .
,
:
X
j (p).
(p) =
j
fj () j - ,
f (), :
X
fj (rj ) max
rj Rj
rj = r .
, f () , Y .
, cj () j - ,
c (), :
X
cj (w, yj ) maxo
yj Yj
yj = y .
4.5.1
/ 244. 62.
/ 245. ,
.
/ 246. , .
/ 247. n , (0, 0)
(1, 1). Y . ,
Y /n (0, 0) (1, 1).
4.5.
161
/ 248. ,
.
/ 249. n
(yj1 + 1)2 + (yj2 + 1)2 6 2, j = 1, . . . , n.
, .
/ 250. n
2
yj1 + yj2
6 0, j = 1, . . . , n.
, .
/ 251. , j = 1, . . . , n,
:
) fj (r) = j r ,
) fj (r) = j ln(r + 1),
) fj (r) = j r ,
) fj (r) = j (1 exp(r)),
/ 252. , j = 1, . . . , n,
:
) cj (w, y) = wj y ,
) cj (w, y) = wj (exp(y) 1),
) cj (w, y) = wj y 3 ,
) cj (w, y) = wj ln(1 y),
/ 253. n ,
: ci (w, y) = wi y 2 , i = 1, . . . , n. .
/ 254. ,
c1 (w, y) = wy 2 , c2 (y) = wy . .
() .

,
:
1)
.

(, ).
2) , / .
3) :
.
4) : ,
, ( ).
5) , . .
6) .
.
,
, , . , - .
-, .
5.1
l > 1 m > 1 . {i , 0. ,
. (. . , )
- .
, :
I = {1, . . . , m} ,
J = {1, . . . , n} (),
K = {1, . . . , l} (),
Xi Rl i- ,
{i , <i , i } ui () i- (ui : Xi 7 R),
ik ( ) k - i- ,
Yj Rl ( ) j - , gj () (gj : Rl 7 R).
:
xik i- k - (k K ),
xi = (xi1 , . . . , xil ) i- ,
x = (x1 , . . . , xm ) ,
yjk j - k - ( , . . ),
yj = (yj1 , . . . , yjl ) j - ,
y = (y1 , . . . , yn ) .
(x, y) = ({xi }iI , {yj }jJ ) . , () .
43:
(x, y),
X i I xi i- (. .
xi Xi ),
X j J yj j -
(. . yj Yj ),
X (
):
X
xik =
iI
ik +
iI
yjk , k K.
jJ
, :
X
iI
xik 6
X
iI
ik +
yjk , k K.
jJ
, .

5.2. ( )
164
. ,
, .
. , , ,
.
.
5.2
( )
(, , )2 ,
.
5.2.1

pk k - , p (p1 , . . . , pl ).
i I , <i xi = {xik }k k , p . ,
, , , . . , .
,
xi Xi , :
pxi =
pk xik 6 i ,
kK
. .
Bi (p, i ) = { xi Xi | pxi 6 i }
i = i (), i () , .
. ,
:
i (p, i ) = p i =
pk ik .
kK
, i , ,
( ).
, , ( ) , .
, .
2
, , , (1776),
ements
(1817), (1874, 1883), (1950- .). . . L. Walras: El
deconomie politique pure, ou theorie de la richesse sociale, Lausanne, Paris: ??, 1874-1877 (. . . :
, .: , 2000);
L. Walras: Theorie mathematique de la richesse sociale, Lausanne: ??, 1883; K. J. Arrow and G. Debreu: Existence of an Equilibrium for a Competitive Economy, Econometrica 22 (1954): 265290; G. Debreu: Theory of Value:
An Axiomatic Analysis of Economic Equilibrium, John Wiley & Sons, 1959 (Cowles Foundation Monograph No. 17).
5.2. ( )
165
i , p
, x
i ,
i , x
i Bi (p, i );
1) x
i ,
2) xi Xi , x
i xi
/ Bi (p, i ).
, . . xi i x
ui (), xi Xi
. ,
ui (xi ) max
xi
xi Bi (p, i ).

i , , . . x
(. ).
, , . .3
i int Xi .
x
xi Xi .

L(xi , i ) = ui (xi ) + i i
pk xik ,
kK
i .
( ,
, )
i > 0,
L(
xi , i )
= 0, k K,
xik
ui (
xi )
= i pk , k K.
xik
,
ui (
xi ) = i p,
.
i
, x
, ui (
xi ) 6= 0, i > 0.
, , . , k, s K , pk 6= 0, ,
ps
ui (
xi )/xis
=
.
pk
ui (
xi )/xik
,
. , .
3
i Xi .
, , x
5.2. ( )
166
, . . . ,
, , i > 0,
, :
pxi = i .
.
, ()
,
, , Xi ,
ui () .
, ui () ,
ui (x + (1 )y)>ui (x) + (1 )ui (y)
[0, 1] x y .
: , - ( ) . , . , , u(x, y) = xy ln(u(x, y)) =
ln(x) + ln(y) , ,
. ,
, .
, , .
( ) (. ???).
, , ,

.
,
. , , Xi = Rl+ .
. ,
L(
xi )
L(
xi )
6 0,
= 0, x
ik > 0, k K.
xik
xik
ui (
xi )
ui (
xi )
6 i pk ,
= i pk , x
ik > 0, k K.
xik
xik

yj = {yjk }kK j J
Yj . (, , . .
yj .)

j = pyj =
X
kK
pk yjk .
5.2. ( )
167
, , ,
. ,
:
pyj max
yj
yj Yj .
gj (),
pyj max
yj
gj (yj ) > 0.
gj () .

L=
pk yjk + j gj (yj ),
kK
j , .
( ,
, gj (yj ) 6= 0) j > 0,

L(
y j , j )
= 0, k K,
yjk
gj (
yj )
j
= pk , k K.
yjk
,
j gj (
yj ) = p,
.
(p 6= 0), j > 0. j ,
k, s K , pk 6= 0, ,
gj (
yj )/yjs
ps
=
.
pk
gj (
yj )/yjk
, . ,
.
,
, , gj () .
5.2.2
, , () .
.
5.2. ( )
168

, , .
, ,
, , . .
EE = {I, (Xi , 0 x2 > 0.
1- (x11 , x12 ) , 2-
(x21 , x22 ) (1 , 2 ), 1- . (x11 , x12 )
(x21 , x22 ) , x
.
. 5.1 . .
x
p1 /
p2 .
i , L++
(
x
)
,
x
i
i
,
.
5.2. ( )
169

???
,
, .
,
, . ,
, - , i
P
ij j , iI ij = 1, ij > 0.
,
,
. p
j
X
X
i =
pk ik +
ij j .
jJ
kK
,
, , ,
, . .
EAD = {I, (Xi , <i , i )iI , J, (Yj )jJ , (ij )iI,jJ }.
45:
, y
),
EAD (
p, x
:
i i p
i =
x
P
i + jJ ij p
y
j ;
p
;
j j p
y
) EAD , , k (
x, y
X
X
X
yjk .
ik +
x
ik =
iI
iI
jJ
) ,
, (
x, y
4 .
,
, .
, (. . 5.2). ,
. + Y , + y ,
y Y , , Y ,
.
4
,
(), .
, . , :
X
iI
i = p
X
iI
i +
j .
y
jJ
5.2. ( )
170
( , 0 = +y
, ,
). x
. . .
, .
, x
.
x2 =2 +y2
L++ (
x)
=+
x
y
+Y
x1 =1 +y1
. 5.2.

( ),
,
Si :
X
X
ij j + Si .
pk ik +
i =
jJ
kK
Si . , Si .
:
X
Si = 0.
iI
,
ET = {I, (Xi , <i , i , Si )iI , J, (Yj )jJ , (ij )iI,jJ }.
46:
, y
),
ET (
p, x
:
i i p
i =
x
P
i + jJ ij p
y
j + Si ;
p
j j p
;
y
) ET , , k (
x, y
X
X
X
x
ik =
ik +
yjk .
iI
iI
jJ
5.2. ( )
171

5
, , ,
( , ,
). , .
( )
Ri , . .
ED = {Xi , ui ()}iI , , {Ri }iI
47:
) =
(p, x
(p, {
xi }iI ), :
p Rl+ ,
i p Ri ,
x
, , , . .
x
k K
X
X
x
ik =
ik .
iI
p =
5.2.3
iI
iI
Ri .
, .
.
,
. ,
X
i =
iI
p i +
iI
XX
ij pyj +
Si =
iI
iI jJ
X
X
X
X
X
X
ij = p i +
yj = p
= p i +
yj
xi ,
iI
jJ
iI
iI
jJ
iI
( ) . ,
. . , ,
,
X
iI
i <
x
i ,
iI
x
i = i i I .
. p
.
,
i int Xi i I ),
( , . . x
ui (
xi ) 6= 0 i I.
5
. ???
5.2. ( )
172
i
, . x
j , , y
, :
ps
ui (
xi )/xis
=
, i I,
pk
ui (
xi )/xik
gj (
yj )/yjs
ps
=
, j J,
pk
gj (
yj )/yjk
k .
. ,
() s, k . , . 5.1
, . 5.2
.
, , ,
.
, y
), (
)
(
p, x
x, y
, , .
, p
, ,
.
.
5.2.4
E() .
, , ,
.
0 E(
p
p). , ,
E(
p) = 0.
.
p i- xi (p, i ). i = p i ,
, . . xi (p) (
xi (p, p i )). .
. , P
E(p) = iI (xi (p) i ).
. , yj (p). xi (p) (
P
xi (p, p i + jJ ij j (p))).
48:
()
()
X
X
E(p) =
xi (p) i
yj (p).
iI
jJ
,
.
5.2. ( )
173
, p , 0 E(p).
i
, 0 E(p). , x
i xi (p) y
j y(p), , i I
j , x
y
P
i i- p p i + jJ ij p
x
yj ,
j j - p,
j J y
X
X
j = 0.
(
xi i )
y
iI
jJ
, y
) .
, (p, x
, y
) , x
i xi (
j y(
, (
p, x
p) i I , y
p)
j J ,
X
X
j E(
0=
(
xi i )
y
p).
iI
jJ
.
() , . . > 0
xi (p, ) = xi (p, ),
yj (p) = yj (p),
, , () :
E(p) = E(p).
, . ,
(
).
, , .
, , . , P
pxi = p i + jJ ij j (p)
xi xi (p), . . ( P
P
). , p iI xi = p iI i +
P
p jJ yj xi xi (p) yj yj (p). , ,
, e E(p), pe = 0.
E() , pE(p) = 0 ,
.
5.2.5
/ 255. , : 1) , 2) , 3) , 4) , 5)
.
/ 256.

ui (xi1 , xi2 ) = min{xi1 , xi2 },
1 = (a, 0) 2 = (0, b) (a, b > 0).
. ?
5.2. ( )
174
/ 257.

u1 (x11 , x12 ) = min{x11 , x12 }, u2 (x21 , x22 ) = x21 x22
1 = (a, 0) 2 = (0, b) (a, b > 0).
. , .
/ 258.

u1 (x11 , x12 ) = 1 x11 + 1 x12 , u2 (x21 , x22 ) = 2 x21 + 2 x22 ,
1 = (a, 0) 2 = (0, b) (a, b > 0).
. , .
/ 259.

u1 (x11 , x12 ) = x211 + x212 , u2 (x21 , x22 ) = x21 + x22 ,
1 = (a, 0) 2 = (0, b) (a, b > 0).
, .
/ 260.

u1 (x11 , x12 ) = x11 x12 , u2 (x21 , x22 ) = x21 + x22 ,
1 = (a, 0) 2 = (0, b) (a, b > 0).
. , .
/ 261. ,
.
1
12 3 1
u1 (x1 , y1 ) = 2
,
37 y12
x1
3
1
12
1
u2 (x2 , y2 ) =
,
37 x22 y22

1 = (1, 0),
2 = (0, 1).
. ?
/ 262.
E1 (p1 , p2 ) =
p2
,
p1 + p2
E2 (p1 , p2 ) =
p1
p1 + p 2
) ?
) ?
) ?
/ 263.
E(p) =
p
a ,
pa
a Rl++ . ? ?
?
?
/ 264.

E1 (p) = p1 /p3 + p2 /p3 + 1 E2 (p) = p1 /p3 2p2 /p3 + 2.
.
5.3.
175
E() ?
/ 265. , .
u1 (x1 , y1 ) = x1 y11 u2 (x2 , y2 ) = x2 y21 .
1 = (a, b) 2 = (c, d).
, , a, b, c, d.
/ 266.
ui (xi ) =
l
Y
xikik ,
i = 1, . . . , m 1,
um (xm ) =
k=1
l
X
xmk .
k=1
.
/ 267.
vi (p, i ) = ln i
l
X
ik ln pk , i = 1, . . . , m.
k=1
.
.
/ 268. ,
.
(A) , (
) ?
(B) , ( ) ?
.
/ 269. (,
, ) . .
/ 270. , , , . .
/ 271. , , , . .
5.3
, , , ().
, . ,
.
, , , .
, ( ) ,
.
5.3.
176

(, ) ,
- .

() E(p), . ( , 0 E(
.) p
p)
(E(
p) = 0, ), ,
.
. ,
. ,
( . .),
, .
,
, , , E(p) ,
.
, ,
p
p > 0
. . . .
, .
( ):
S
l1

X

p>0
pk = 1 .
kK
p Rl+ ( ) p S l1 > 0.
, S l1 (, ,
).

. E(),
,
, . . .
63:
, E() p Rl+ , p 6= 0,
, . . pE(p) = 0.
Rl+ , p
6= 0, E(
> 0,
p
p) 6 0. p
E(
p) = 0.
: S l1 :
gk (p) =
pk + max{0, Ek (p)}
P
, k K.
1 + sK max{0, Es (p)}
g() :
S l1 ,
5.3.
177
,
, . p
g():
,
g(
p) = p
. .
pk = gk (
p) =
pk + max{0, Ek (
p)}
P
k K.
1 + sK max{0, Es (
p)}
,
pk
max{0, Es (
p)} = max{0, Ek (
p)} k K.
sK
Ek (
p) :
X
kK
pk Ek (
p)
max{0, Es (
p)} =
sK
Ek (
p) max{0, Ek (
p)}.
kK

,
X
Ek (
p) max{0, Ek (
p)} = 0.
kK
Ek (
p) max{0, Ek (
p)} 0, (Ek (
p))2 .
, , .
, Ek (
p) 6 0 k K .

, , , p g(p), ,
, . , .
,
S l1 .
, . , Xi = Rl+ .
,
(p Rl++ ).
(pE(p) = 0). , (
) , p Rl+ , p 6= 0,
- , .
,
. , .
,
() ;
;
.

.
5.3.
178
64:
, Xi = Rl+ i, , ,
( i > 0 i). , , . , p Rl++ .
: , ( ) :
xik 6 k + , i I, k K.
k , .
p Rl+ ( , Xi = Rl+ ),
. , , ,
, xi (p) , , E (). E ()
.
E () p Rl+ \0 , p Rl++ (. ,
). , , ( i > 0).
,
63 p
E (
p) 6 0.
, E (
, p
p) 6 0
E(
p), E (
p) = E(
p).
P
P
E (
p) 6 0. iI xi (
p) 6 iI i = . ,
xik (
p) 6 k
xsk (
p) 6 k < k + .
s6=i
, , . . xi (
p) = xi (
p). (
0
, i xi , ,
xi (
p), , x0i xi (
p)
, xi (
p).
, xi (
p).)
, E (
p) = E(
p) 6 .
,
Rl++ , . . . , p
, , k , ,
.
, xi (
p) p
> 0, E (
63 p
p) = 0. , E(
p) = 0.

, , , ,
, , . ,
.
6
, , , E(
p) 6 0 , E (
p) = E(
p) . , E(
p) = 0
,
E (
p) = 0 . , p
E () .
5.3.
179
29 (( )
(l = 2),
i
ui (xi1 , xi2 ) = xi1 + xi2 ,

i = (0, 1). , , .
, ui (xi1 , xi2 )
:
p1 xi1 + p2 xi2 6 p2 ,
xi1 > 0, xi2 > 0.
p1 , p2 6= 0
p1
.
xi2 (p1 , p2 ) =
p 1 + p2
, xi2 (p1 , p2 ) 1, p2 0. p2 = 0,
, xi2 ( ). ,
2- p2 = 0.
, .
p1 , p2 6= 0
xi1 (p1 , p2 ) =
p22
,
p1 (p1 + p2 )
. . . , ,
. , , .
, .
p1 , p2 6= 0 , , xi2 (p1 , p2 ) 1
p2 0. p2 = 0, 1 + . ,
p2 = 0,
.
4
, ,
. ( .) , .
( 70
72), .
( ), ,
S l1 , (
).
,
. ,
. , .
, , , ,
. , , .
.
5.3.
180
,
- ,
( , ). , ,
, . , , (. 75 76
). ,
.
, , , ,
. ,
. . .
5.3.1
/ 272. , ,
ui (xi ) =
l
X
xikik ,
k=1
ik = i k , ? .
/ 273. . ?
, ,
.
/ 274. .
? , ,
.
/ 275. , ,
u1 (x11 , x12 ) = x11 ,
u2 (x21 , x22 ) = x22 ,
1 = (1, 1), 2 = (, 1) ,
6= 0.
, ?
/ 276. , ,
u1 (x11 , x12 ) = min{x11 , x12 },
u2 (x21 , x22 ) = x22 ,
1 = (0, ) ( > 0) 2 = (, ) (0 < <

). ?
/ 277. , , .
7
5.4. -
181
, , , -
P
. , m
> 0, ,
P
P i=1 i l
Z = ( jJ Yj + iI i ) R+ , .
()
?
/ 278. l m ,

l
X
ui (xi ) =
ik xik , ik > 0.
k=1
(?) ?
, y
) , p
> 0,
/ 279. , (
p, x
6= 0, Xi = Rl+ , , .
p
Pm
0 Yj , i > 0,
i=1 i > 0. ,
.
/ 280. (l =2), i
q
q
ui (x1i , x2i ) = x1i + x2i ,
i = (0, 1). .
/ 281. l m , , .
(?)
?
/ 282. 4 4 ,

ui (xi ) = min{xi1 , xi2 }, i = 1, 2,
u3 (x3 ) = x31 + min{x33 , x34 },
u4 (x4 ) = x42 + min{x43 , x44 }.
i = ei (i- ). ,
. ?
/ 283. 4 4 ,

ui (xi ) = min{xi1 , xi2 }, i = 1, 2,
ui (xi ) = min{xi3 , xi4 }, i = 3, 4,
,
. . , , ,
.
5.4
( ) -
5.4. -
182
, .
,
, . . .
49:
) - (
x, y
(x, y) , , ,
i0 i0 xi0 .
i <i xi i0 x
i I x
) -,
(
x, y
-8 .
, P , .

, L+
(. . 5.3). - x
x1 )
1 (
++
++
+
L2 (
x2 ) L1 (
x1 ) L2 (
x2 )
. L+
(
x
)
,
i
i
++
i, xi , Li (
xi ) ,
i . , L+
, x
x1 ) L+
xi )
1 (
2 (
.
x
x12
x21
L+
x1 )
1 (
x
L+
x2 )
2 (
x11
x22
. 5.3. -
5.4.1
, . P
i > 0, iI i = 1,

:

X
i ui (xi ) max
x,y
iI
(x, y) E.
8
(P )

V. Pareto: Manuele di economia politica, Milan: Societa Editrice Libaria, 1906.
5.4. -
183
(x, y) E , (x, y) E . -,
-.
50:
) - (
x, y
(x, y) , , ,
i i xi .
i I x
) , WP ,
(
x, y
, .
, () P
WP , . . P WP .
65:
) (P ), (
) ,
(1) (
x, y
x, y
) () .
, , i > 0 i I , (
x, y
(2) Xi , ui () ,
)
Yj . (
x, y
P
) , i ( iI i = 1), (
x, y
(P ).
),
: (1) , (P ), (
x, y
),
. (
x, y
ui (
xi ) > ui (
xi ) i I . (P )
, x
, , (
) (P ).
x
x, y
()
.
) .
(2) (
x, y
u(x) = (u1 (x1 ), . . . , un (xn ))
:
U = { v Rn | (x, y) E : v 6 u(x) } .
U , u(
x) U . , U .
0
00
v U v U . , ,
(x0 , y0 ) (x00 , y00 ), v0 6 u(x0 ) v00 6 u(x00 ). ,
(x0 + (1 )x00 , y0 + (1 )y00 ), [0, 1],
. ui () ,
u(x0 + (1 )x00 ) > u(x0 ) + (1 )u(x00 ).
, v0 + (1 )v00 6 u(x0 + (1 )x00 ), . .
U U :
v0 + (1 )v00 U , [0, 1].
u(
x) + Rn++ = { v Rn | vi > ui (
xi ) i I } .
5.4. -
184
) ,
(
x, y
:
U (u(
x) + Rn++ ) = ,
, ).
, (
x, y
, . . a Rn , a 6= 0
b,
av 6 b v U
av > b v u(
x) + Rn++ .
, a > 0. , i, ai < 0.
v u(
x) + Rn++ , v + tei u(
x) + Rn++ , t , ei i- .
t, a(v + tei ) < b,
, v + tei u(
x) + Rn++ .
vN = u(
x)+1/N 1l, 1l , .
N
n
N
v u(
x) + R++ N , av > b. , au(
x) > b.
, u(
x) U au(
x) 6 b. , au(
x) = b.
v2
u(
x)+R2++
u(
x)
U
v1
. 5.4.
, Rn , a >6=
0, u(
x) U u(
x) + Rn++ (. . 5.4).
i ai :
i = P
ai
jJ
aj
(x, y),
X
iI
i ui (xi ) >
i ui (
xi ).
iI
, u(x) U , au(x) 6 au(

x).
P
)
ai , u(x) 6 u(
x). , (
x, y
(P ).

, (P ) , ,
. , (P ) . ,
5.4. -
185
. , , (P ) .
, .
66:
(1) Xi = Rl+ , , : P = WP .
(2) 9 ,
, ,
.
: (1) P WP , , WP P .
), , . . (
x, y
, .
) , (
x, y
i0 .
i i I i0 I : x
i0 i0 x
), x
i 0. ek k - (, k - 1,
0). (N = 1, 2, . . .)
i0
x i0 (N ) = x
i +
x i (N ) = x
1 k
e ,
N
1
ek i 6= i0 .
N (N 1)
i (N ) i 6= i0 N . , , x i (N ) i x
, x i (N
) (
i0 N
0
i0 .
) x i0 (N ) i0 x
), y
) , (x i0 (N
), , (
)
(
x, y
x, y
.
(2) .
5.4.2
) -, , (
x, y
, (
, ).
- : ,
) -, ,
(
x, y
i0 {1, . . . , m}:
ui0 (xi0 ) max
(x,y)
ui (xi )>
ui = ui (
xi ), i I, i 6= i0 ,
xi Xi , i I,
(Pi0 )
gj (yj )>0, j J,
X
iI
9
(xik ik ) =
yjk , k K.
jJ
, x > y , x y .
5.4. -
186
i0 ,
) , x
i int Xi i I ,
(
x, y
(. ), ,
. (
)
L=
X
iI
i ui (xi ) +
X
jJ
j gj (yj ) +
X
kK
k (
yjk
jJ
(xik ik )).
iI
i > 0 (i I), j > 0 (j J) k

) xik yjk
(k K), (
x, y
:
L
ui (
xi )
= i
k = 0, i, k,
xik
xik
gj (
yj )
L
= j
+ k = 0, j, k.
yjk
yjk
)
, (
x, y
. ,
i k , ui (
xi )/xik 6= 0, j k , gj (
yj )/yjk 6= 0.
.
,
(. . - ) . , ,
, .
: ,
, . .
, i0 1.
i0 = 1, , k0 , ui0 (
xi0 )/xi0 k0 6= 0,
k0 > 0. , , ,
i > 0 (i I) j > 0 (j J).
, i j ,
i int Xi i I ) - :
( x
ui (
xi )/xik
k
=
,
ui (
xi )/xik0
k0
gj (
yj )/yjk
k
=
.
gj (
yj )/yjk0
k0
()
k , k0 (k0 > 0) . . 5.3
.
5.4.3
/ 284. ,
, Rl+ , , , - ,
5.5. -.
187
,
, - . (: -
,
.)
/ 285. , ( m ) - .
/ 286.
. .
/ 287. x , xi <i xj i, j (
).
(1) , .
(2) , , ,
, ,
-, .
(3) - , ?
/ 288. -
:
u1 (x1 ) = ln(x11 ) + ln(x12 ),
u2 (x2 ) = ln(x21 ) + ln(x22 ),
1 = (1, 3), 2 = (3, 1).

.
/ 289. m
.
P
, xi = i /m .
?
? ?
, ?

?
5.5
-.
,
, . , .
10 (,
10
. . (. , . , . , . ) 1930-1940 . .
(1951) (1951, 1954).
5.5. -.
188
, ). , -.
, - .
11 .
51:
. ?? (i , 0)
).
67 (( )):
, y
) , (
p, x
) -.
, (
x, y
: : ), (
) , ,
, (
x, y
x, y
i i0 .
p
i0 , , x
i0 ,
, x
, .
x
i > i ( i I). , p
x
i 
x
iI
i .
iI
2) , :
X
iI
i =
iI
kK
pk ik +
X
jJ
ij
pk yjk + Si =
kK
X
X
X
X
X
X
X
X
ij +
Si =
yjk
=
pk ik +
yjk
pk ik +
kK
iI
jJ
iI
iI
kK
iI
jJ
11
, , .
, , ,
.
5.5. -.
189
xi2
i
x
i
x
xi1
. 5.5.
i = p
iI
i + p
iI
j .
y
jJ
j j - p
,
3) y
y
j > p
y
j .
p
,
j > p
jJ
j .
y
jJ
4) :
X
iI
i >
x
i = p
i + p
j > p
jJ
iI
iI
i + p
iI
j
y
jJ
i > p
iI
i + p
iI
j .
y
jJ
) , , (
x, y

X
i =
x
iI
X
iI
i +
j .
y
jJ
) -. ,
, (
x, y
) -.
(
x, y

, , .
30:

x11 x12 ,
x11 x12 < 2,

u1 = 2,
2 < x11 x12 < 3,
x11 x12 1, x11 x12 > 3.
5.5. -.
x12
190
x21
WP
x11
x22
. 5.6.

u2 = x21 + x22 .
.

.
. 5.6 , . p1 = p2 = 1, -.
4
, - ( ).
.
68 (( )):
) - ,
(
x, y
G ,
G Xi , 12
,
i
G - (. . x
int Xi ),
G :
ui (
xi ) 6= 0, i I
gj (
yj ) 6= 0, j J.
, y
)
p Si , i = 1, . . . , m, (p, x
.
: ,
)
i > 0 (i I ), j > 0 (j J ) k (k K ), (
x, y
:
i
12
ui (
xi )
= k , i, k
xik
gj (
yj )
+ k = 0, j, k.
yjk
5.5. -.
191
, . .
pk = k , k K Si ,
i p (i = p
, x
xi ), . .
Si = i p i
ij p
yj = p(
xi i
j ).
ij y
jJ
jJ
, .
, y
) , ,
, , (p, x
i p
(i) x
j
p
xi , (ii) y
p.
i . ,
(i) , x
. .
i ,
( )
ui (
xi )
= i pk , k K.
xik
i = 1/i , i ui (
xi )/xik = k i >
0.
,
i . , x
i
Xi , . . . x
.
j j - .
(ii) , y
j ,
j
gj (
yj )
= pk , k K.
yjk
j = j . ,
j j -. , ,
j .
, y
: , i
p
xi , , i ij . i ,
p
xi
,
xs
sI p
i = P
, . . ij = i i, j i =
i i, .
i .
i = x
. ,
. .
5.5. -.
192
69 (( )):
F Xi , <i , ,
F Yi .
) x
i int Xi i (. . (
x, y
- ), p
, y
) .
Si , i = 1, . . . , m, (p, x
: .
i , L++
i, x
i :
i } .
L++
xi ) = { xi Xi | xi i x
i (
,
Xi , , , L++
xi ) , , ,
i (
++
(
x) =
xi )
L++
i (
X
iI
iI

i i I
xi xi Xi , xi i x
xi ) , L++ (
x) . , L++
i (
.
,
Y + =
X
jJ
Yj + =
X
jJ

yj + yj Yj j J ,
,
P
j + .
jJ y
) , L++ (
(
x, y
x) Y +
:
L++ (
x) (Y + ) = .
, z L++ (
x) z Y + .
i i, yj Yj j ,
, (x, y), xi Xi , xi i x
P
P
iI xi = z
jJ yj + = z. ,
), .
13 (
x, y
L++ (
x) Y + , ,
. p Rl , p 6= 0 r R,

pz > r, z L++ (
x)
pz 6 r, z Y + .
i i,
x = {xi } , xi r . r.
N
, xi xi . N , .
13
5.5. -.
193
=
z
i =
x
iI
j + .
y
jJ
( .)
L+ (
i
z
x) ( r . , - ,
Y + , p
z
z 6 r . , r = p
z.
z2
L+ (
x)
z
Y +
z1
. 5.7.
, , z
+
Y + L (
x) (. . 5.7). p, , y
)
, , (p, x
.
, j
j . yj Yj .
y
yj +
s + Y +
y
s6=j

p(yj +
s + ) 6 p
y
z = p(
s + ).
y
sJ
s6=j
pyj 6 p
yj . , p
j , y
j .
, yj y
i (xi p
x
z=p
s.
x
sI
i pxi > p
xi .
, xi p
xi i x
xi . , ,
i ) , x
i p. ,
xi (xi Xi xi i x
pxi > p
xi , , .
, pxi = p
xi .
i int Xi , x
i Xi
x
. (p 6= 0),
5.5. -.
194
i , , xi . ,
x0i , p x
pk 6= 0 k . pk > 0, x
ik , pk < 0, . ,
0
xi , px0i < pxi .
x0i + (1 )xi , [0, 1]. Xi , . , ,
x00i = x0i + (1 )xi
i . , px0i p
, , x00i i x
xi . .
, pxi > p
xi . , ,
i , , x
i . , x
i
x
p i = p
xi .
, y
) ,
, , (p, x
, , i = p
xi .
.

,
, . . , - x1 )
, , L++
1 (
L++
(
x
)
.
,
.
5.1
,
2
2
- . . 5.3
x
- x
, L++
(
x1 ) L++
x2 ).
1
2 (
.
31:
u1 = x11 + x12 u2 = x22 .

) ,
( x
(. . 5.9).
. , L++
x1 ) L++
x2 ), 1 (
2 (
. , L++
x1 ).
1 (
1
, , p1 = 0 p2 > 0 x
, .
4
5.5. -.
195
x12
x21
L++
x1 )
1 (
x11
L++
x2 )
2 (
x22
. 5.9. : -
, ,
. 5.2.
32:
= +y

(. . 5.10). - x
.
L++ (
x)
, .
x2 =2 +y2
L++ (
x)
=+
x
y
+Y
x1 =1 +y1
. 5.10. :

= +y
, , x
.
, , x
,
L++ (
x).
, - .
, ( ) . ,
, ,
. ,
.
5.5. -.
196
. , -, - (
), .
4
5.5.1
/ 290.
, -
, .
, , 1 , 2 , u1 (), u2 ()
(p, x).
/ 291. , - , .
/ 292. , , u1 (), u2 (),
x,
() .
() .
/ 293. .
/ 294. .
/ 295. , .
/ 296. ( ), ,
.
/ 297.
? - ? ,
- ?
/ 298. xi > 0.
, ()
?
1) u(x1 , x2 ) = x1 ,
2) u(x1 , x2 ) = x1 ,
3) u(x1 , x2 ) = const,
4) u(x1 , x2 ) = x21 + x22 ,
5) u(x1 , x2 ) = x1 + x2 ,
6) u(x1 , x2 ) = min{x1 , x2 },
7) u(x1 , x2 ) = exp(x1 )x2 ,
8) u(x1 , x2 ) = x1 x2 ,
9) u(x1 , x2 ) = x1 3x2 ,
10) u(x1 , x2 ) = x1 + 2x2 .
5.5. -.
197
/ 299. -. ,
?
/ 300.
u1 (x1 ) = x211 + x212 ,
u2 (x2 ) = x221 + x222 .
-. -
? ,
(1) ,
(2) .
/ 301. , , R2+ ,
() u1 = x1 x2 , u2 = 6 + x1 x2 ,
(b) u1 = min{x1 , x2 }, u2 = 6 x1 + x2 ,

(c) u1 = x1 x2 , u2 = 6 x1 x2 .
, . . .
1) - ( , ?),
2) - x > 0
( , ?).
/ 302. ( - ) .
( ) ?
/ 303. ( - )
: , (x, y),
i. () , , :
) i;
) ;
) . . . . . . . . . . . . . . . . . . .
.
/ 304. ( -),
, ,
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.
/ 305. ( -),
, . . . . . . . . . . . . . . . . . . . . . . ,
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , .
/ 306. ( - ), ,
, . . . . . . . . . . . . . . . . . . . . . . . . . . . .
/ 307. ( - ) ,
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
( - , ).
5.5. -.
198
/ 308. ( - ) ,
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
( - , ).
/ 309. ( - ) , ,
, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ,
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ( - ,
).
/ 310. ( - ) , , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- , ).
/ 311. ( x, z )
ux (x) = xa1 + xb2 ,
uz (z) = cz1 + dz2 ,
x > 0, z > 0, x z .
) (a, b, c, d, ) , , , ?
, .
) (a, b, c, d, ) , ?
) (a, b, c, d, ) , , ?
) (a, b, c, d, ) ,
, ? ?
/ 312. ux (x1 , x2 ) = ln x1 +
ln x2 , uz (z1 , z2 ) (x1 , x2 , z1 , z2 > 0). x = (1, 1) z =
(2, 1).
uz () , - .
(?) ?
, -.
/ 313. ux (x1 , x2 ), uz (z1 , z2 ) = z1 +z2 (x1 , x2 , z1 , z2 > 0). x = (4, 1) z = (2, 2).
ux () ,
-. ,
-.
(?) ?
/ 314. ux (x1 , x2 ) = 2x1 +x2 ,
uz (z1 , z2 ) (x1 , x2 , z1 , z2 > 0). x = (3, 2) z = (2, 1).
uz () , -
. (?) ?
- . , .
/ 315. ,
g(y) = y1 y2 u(x1 , x2 ).
5.5. -.
199
(1 , 2 ) = (2, 0). , : u = min(Ax1 , Bx2 ), u = max(Ax1 , Bx2 ) u = Ax1 + Bx2 .

A B , (x1 , x2 ) = (1, 1)
, . ,
. , . (?) ?
.
/ 316. i = 1, 2 ui (xiA , xiB ),
x , x > 0. (A , B ) = (2, 2). , u2 =
iA iB
x2A + x2B , 1- : u1 = ln(1 + x1A ) +
ln(1+x1B ), u1 = x1A +x1B u1 = (x1A )2 +(x1B )2 .
, (x1A , x1B ) = (2, 0) ,
. , .
, . (?)
? .
/ 317. , g(y) = y1 y2 u(x1 , x2 ).
(1 , 2 ) = (1, 3). ,
: u = min(Ax1 , x2 ), u = Ax1 + x2 u = max(x1 x2 , A).
A , (x1 , x2 ) = (1, 1) , . ,
. , . (?) ?
.
/ 318. i = 1, 2 ui (xiA , xiB ),
xiA , xiB > 0. (A , B ) = (2, 2). , u1 =
(x1A )2 +(x1B )2 , 2- : u2 = max(x2A , +
x2B ), u2 = x2A +x2B u2 = x2A x2B . ,
(x1A , x1B ) = (1, 2) ,
. , . ,
. (?) ?
.
/ 319. 1-
?
I. u(x1 , x2 ) = 1/x1 1/x2 , II. u(x1 , x2 ) = x1 x2 , III. u(x1 , x2 ) = 100,
) I II.
) I III.
) II III.
) I.
/ 320. ,
. . .
) ,
) ,
) ,
) .
/ 321. ,
. . .
) ,
) ,
5.5. -.
200
) ,
) .
/ 322. ,
. . .
) ;
) ;
) ;
) .
/ 323. , . . .
)
;
) ;
) ;
) .
/ 324.
u1 = x11 + 2 x12 u2 = 2 x21 + x22 .

1- (1, 3), 2- (2, 1).
x11 = 2, x12 = 1, x21 = 1, x22 = 3, p1 = 1, p2 = 1, T1 = 1, T2 = 1.
() , (p, x, T) .
() ? .
/ 325.
u = 2 x1 + x2 ,
(3, 1).

g = y1 + 2 y2 .
x1 = 4, x2 = 3/4, y1 = 1, y2 = 1/4.
() , (x, y) - .
() - ? .
/ 326.
u1 = x11 + 4 x12 u2 = 2 x21 + x22 .

1- (2, 4), 2- (1, 1).
x11 = 1, x12 = 2, x21 = 2, x22 = 3.
() , x - .
() - ? .
/ 327.
u = x1 + 2 x2 ,
(3, 0).

g = 4 y1 y2 .
x1 = 2, x2 = 4, y1 = 1, y2 = 4, p1 = 2, p2 = 1.
5.5. -.
201
() , (p, x, y) .
() - ? .
/ 328.
( m ) , ,
, , , ? ?
/ 329. -.

?
/ 330.
u1 = x11 , u2 = x12 , > 0.
, :
) (x1 [0, 1 ] [0, 2 ])
.
) ,
2
p = 0.
/ 331.
u1 = x11 , u2 = x22 ( >
0). , :
) (x11 = 1 , x21 [0, 2 ]) (x11 [0, 1 ], x21 = 0) , (x1 = (1 , 2 ))
-.
) .
/ 332. , 3???,
,
u1 = 1 x11 + 1 x21 u2 = 2 x12 + 2 x22 ,
( > 0). , .
.
/ 333. 4??? (u1 = ln x11 +ln x21 , u2 = x12 +x22 )
( > 0). ,
.
.
/ 334.
1 2
x1 x1 ,
x11 x21 < 2,

u1 = 2,
2 6 x11 x21 6 3, u2 = x12 + x22 .
x11 x21 1, x11 x21 > 3

???5
,
. ?
/ 335. 6??? (u1 = (x11 1)2 (x21 1)2 , u2 = 2x12 + x22 )

, .
5.A.
202
q
/ 336. 7??? (u1 = x11 + x21 , u2 = x22 )

,
.
/ 337. ?
/ 338.
?
5.A
5.A.1
,
, , ,
.
70:
, E(p) :
l1
E(p) S+
=
p>0
kK
pk = 1 .
l1
E(p) S+
.
l1
pE(p) = 0 p S+
( ).
, . . t,
Ek (p) > t k, p S l1 .
,
, . . pn S l1 pn p0 n ,
k 0 , p0k0 = 0,
max(Ek (pn )) n .
k
Rl++ , E(
p
p) = 0.
: :
1. S l1 .
2. .
3. ,
, .
l1
1. p S+

g(p) =
q S l1 qE(p) > q0 E(p) q0 S l1
l1
, g() S+
S l1 . , l1
g(p) S ,
5.A.
203
, p. , l1
p S+
(. . p , E(p) 6= 0)
( ) ,
.
l1
S l1 \S+
g(p) :
g(p) =
q S l1 qp = 0
q S l1 q k = 0, pk > 0 .
, g(p) p S l1 .
2. , ,
g(p), . ,
, g() .
, {pn } S l1 {qn } S l1 p0 q0
, qn g(pn ). , q0 g(p0 ). :
l1
l1
(1) p0 S+
, (2) p0 S l1 \S+
.
l1
l1
0
p S+ N , n > N pn S+
.
0
l1
q S . n > N
qn E(pn ) > q0 E(pn ).
, , q0 E(p0 ) > q0 E(p0 ). , ,
q0 g(p0 ).
l1
. k , p0k > 0.
, p0 S l1 \S+
, n qkn = 0. ,
qk0 = lim qkn = 0, , , q0 g(p0 ).
l1
pn S l1 \S+
, g() qkn = 0. ,
l1
pn S+
, p0k > 0, n
qkn = 0.
pnk Ek (pn ) =
pnk0 Ek0 (pn ).
k0 6=k
pnk0 Ek0 (pn ) 6 t
k0 6=k
pnk0 = t(1 pnk ).
k0 6=k
Ek (pn ) 6
t(1 pnk )
.
pnk
pnk , , Ek (pn )
. , maxs {Es (pn )} .
n
Ek (pn ) < max{Es (pn )}.
s
, n q g(pn ) q k = 0.
, g() q0 S l1 q0 E(pn ) 6 qE(pn ). , q k > 0, Ek (pn ) < maxs {Es (pn )}
q q0 q0 E(pn ) > qE(pn ). , s , Ek (pn ) < Es (pn ).
q0 = q q k ek + q k es , ek es .
5.A.
204
, g() .
g() , S l1 , ,
S l1 :
p
g(
p
p).
3. , g() .
g()
p
l1
l1
(S l1 \S+
). , g(p) p S l1 \S+
l1
l1
g(
S \S+
q g(p) qp = 0. p
p ), p
,
2
= 0,
p
= k
p
pk = 0. p
.
> 0 , , E(
, p
p) =
0. .
> 0,
. , E(
p) 6= 0 p
g(
> 0,
s s0 , Es (
p) > 0 Es0 (
p) < 0. p
p) p
E(
g(
p) q S l1 p
p ) > qE(
p). , Es (
p) >
0
0
s
s
s
s
k
k
Es0 (
p), q : q = p + p , q = 0, q = p , k 6= s, s0 ,
E(
p
p) < qE(
p). .
, p
.

(. . 5.11). B g().
E1 (p1 ,1p1 )

AC , AB , B , C , BC ,
B , A,
B ( AC ).
p1
p1
1
70, , , p2
, A
1
, . . > 0.
,
B
,
l1
S+
.
C p1
, 1
( t
t = maxk k ).
. 5.11.
,
70 ,
, :
5.A.
205
, . .
, p0 S l1 > 0, , p0 > 0. ,
i, p0 i > 0. ,
, , ,
pn p0 , . .
max xik (pn ) n ,
k
,
max Ek (pn ) n .
k
71:
{pn } S l1 , pn p0 n , k , p0k = 0.
, :
.
, p0 > 0 14 .
max xk (pn ) n .
k
: . , ,
. . A, 0 6 xk (p) 6 A k K . ,
,
{pnt } ,
.
x(pnt ) x
x(pnt ) , , pnt , . .
pnt x(pnt ) = pnt .
= p0 . p0k = 0.
, , p0 x
k
+ e x
,
x
, ek . , ,
x
, x
=x
+ ek es , s , p0s > 0.
> 0, x
,
= p0 x
+ p0k p0s = p0 x
p0s < p0 x
.
p0 x

, N , x
x(pnt ) t > N .
,
pnt p0 x(pnt ) x
) = p0 (
) > 0.
lim pnt (x(pnt ) x
xx
, M , t
) > 0, . .
M , pnt (x(pnt ) x
.
pnt x(pnt ) > pnt x

, , t > max{M, N } x
x(pnt ) .
x(pnt ). , A , 0 6 xk (p) 6 A k , . .
maxk xk (pn ) n .

14
5.A.
206
,
, , .
72:
, Xi = Rl+ i, , , ,
( > 0). ,
Rl++ .
p
5.A.2
??
( ), ( ) .
, ,
. (,
), .
:
i ,
x
p
xi 6 i ,
i , xi Xi ,
x
(C )
p , i .
. , , ,
i .
(C ), , , x
,
, , , (. ?? ??). , ,
, (C ) .
73:
i
, , x
(C ) p i .
i , i (pxi > i ).
(1) xi Xi , x
i p
(2) x
xi = i
i , p,
, x
. . :
pxi min
i.
xi <i x
i (C ).
: (1) x
i .
xi , i (pxi < i ), x
xi , i .
i , ,
, xi , , x
i (C ).
x
(2) (1).
5.A.
207
74:
i (C ) p i , , x
Xi , , xi Xi : pxi < i .
i 15 .
x
: (2) (.
?? ??).

.
52:
, y
) ,
(
p, x
:
i (C ) p

x
P
i + jJ ij p
y
j .
i = p
j j - p
.
y
:
X
iI
x
ik =
X
jJ
yjk +
ik k.
iI
, , , , . .
. , , , .
. (C )
, . , (. 75). .

. 75
. ,
(C )
, , ,
, . ,

.
75:
, :
j J Yj , ,
( ).
i I <i ,
, Xi 16 , Xi Rl+ , i Xi .
15
i int Xi p 6= 0 .
xi Xi , , , x
, Xi ,
.
16
5.A.
208
,
Z=
X
Yj +
Xi ,
iI
jJ
.
, y
), p
6= 0.
(
p, x
: , ,
Z . Xi Rl+ , Z
. Z ,
N , z Z , 0 6 zk 6 N k K .
(x, y) . xi ,
P
, , : iI xi > 0. ,
X
xi = +
iI
yj Z.
jJ
, k K
P
0 6 iI xik 6 N ,
: 0 6 xik 6 N .
, , +
P
jJ yj Z , J J . ,
Z + yj Z j . ,
k K
0 6 k 6 N 0 6 k + yjk 6 N.
, |yjk | 6 N . , i Xi , ,
, ,
0 6 ik 6 N .
, n
, , = m
i=1 Xi j=1 Yj P .
i = { xi Xi xik 6 N + k K } ,
X
P =
Yj =
yj Yj |yjk | 6 N + k K
p > 0 kpk2 6 1 ,
D .
E
, = {xi }iI , {yj }jJ , p .
, , , , , , , . i X
Yj ,
i , i
. X
( i Xi ik 6 N ). , 0 Yj , . . . ,
P .
5.A.
209
(): :
() =
xi ()
iI
yj ()
p (),
jJ
:
xi () =
i px0 6 i (p, y), x0 < x00 x00 X

i : px00 < i (p, y) ,
x0i X
i
i
i
i
i
i (p, y) = p i + max{0,
jJ
ij pyj } + 1 kpk2 ,
yj () = argmax py0j ,
y0j Yj
X
p () = argmax p0
p0 P
xi
iI
yj

jJ
().
xi ()
i i = i (p, y). , (C ) Xi = X
i (p, y)
i | px0 6 i (p, y) } y p P .
{ x0i X
i
. -, i (
X
). -, , . -, 1 kpk2 (, , p = 0
, , ).
yj () () Yj . p ()
P ,
.
= (
, p
) (), . .
,
x, y
(),
. ,
, ,
) ,
(1) (
x, y
i (C ) i I ,
(2) x
j j J .
(3) y
, . , ,
P
P
= iI x
i jJ y
i . , . . e
6= 0.
e
p
p (),
:
p
p
e
max
p: kpk2 61
6= 0, , ,
, e
= e
/k
p
ek, k
pk2 = 1.
2
e
= k
6= 0, p
e
> 0.
p
ek /k
ek = k
ek. e
j p

y
y
j > 0. , : i (
) =
0 Yj , p
p, y
P
i + jJ ij p
y
j .
p
5.A.
210
, , ,
, :
i 6
x
iI
) = p
+ p
i (
p, y
iI
j ,
y
jJ
e
6 0. , , p
e
> 0. .
. . p
= 0, . . .
, e

. ,
.
i y
i
, , , x
.
p
,
xi () yj (), ,
:
x
ik 6 N < N + ,
|
yjk | 6 N < N + .
, , ,
17 .
, i , , ,
x0i < i (
) x0i i x
i . x
x0i Xi , p
p, y
ik < N + , ,
0
00
i ), x00ik 6 N + .
i xi , xi ( x
x
00
xi < i (
), , x00i <i x
i (
, , p
py
i xi ().
), 73 , x

j p
, y
Yj . , y0j Yj ,
j y0j y00j ,
. |yjk | < N + , y
00
j ,
|yjk | < N + , , y
yj ().
, k
pk2 = 1. , (. 73).
, ,
X
iI
i =
x
X
iI
) = p
+ p
i (
p, y
j + m(1 k
y
pk2 ).
jJ
, , , , 1 k
pk2 = 0.
6= 0.
, , p
, , , . , , ,
: ()
, , ( ).
, yj () p () ,
()
.
i | px0 6 i (p, y) } i . { x0i X
i
,
(, ).
17
, , , , !
5.A.
211
i ,
i , . . x
i x00i X
xi (). , x
00
00
i xi Xi ,
pxi 6 i (p, y). , x
i xi (). ,
px00i < i (p, y), , x
xi () .

, yj () p () .
xi (). x0i x00i , . x = x0i + (1 )x00i
( (0, 1)). , x xi (). , x . , x
, i (p, y).
i , p
i X
, x
xi < i (p, y), x . 0
00
i . ,
xi () xi xi x
x . ,
.
,
n}
. , { n } {
0
0
n
n
, ( ). ,
0 ( 0 ).
ni 6 (pn , yn ). 0i xi ( 0 ). x
ni xi ( n ), pn x
, x
, () , :
i , x
i 0i 6 (p0 , y0 ). X
0i X
p0 x
0
0i .
, Xi . xi Xi , x
, i (p, y). ,
ni n > M . , M , x0i x
0
0i > (pn , yn ). ,
xi ( ) n > M pn x
0i > (p0 , y0 ). ,
p0 x
xi ().
yj () p ()
. 70 ( ; . 187 ).

, 75 ( 73 74)
, ,
.
76:
75, i int Xi i I 18 .
, y
),
(1) (
p, x
6= 0.
p
(2) (i0 ) , Xi0 + Rl+ Xi0 ,
, y
), p
>6= 0.
(
p, x
= (
, y
) ,
: (1)
p, x
( 75 ). ,
. i. P
i + jJ ij p
y
j .
i = p
,
18
, Xi = Rl+ , i > 0 .
5.2.
212
i 6 i . xi = i
0 Yj . , p
p > 0
6= 0 i ,
i. p
2
xi = p
i k
i 6 i . 74 xi ,
p
pk 
iI xi .
, y
), p
> 0.
(
p, x
= (
, y
).
: 75
p, x
>6= 0. , p
P
P
P
P
iI i > p
iI xi , ,
iI i > iI xi , p
xi0 0.
. , x
, xi 66= i xi < p
i
i 6 i . , 74 x
, p
.
5.2
/ 339. , ,
,
. , ?
/ 340. ,
m
X
xik =
i=1
m
X
i=1
m
X
ik +
i=1
xik 6
m
X
i=1
n
X
yjk , k K
j=1
ik +
n
X
yjk , k K.
j=1
EA .
, y
), (
p, x
:
5.2.
213
;
p
i p
i =
x
P
P
p
;
kK k ik
jJ ij j
;
j p
y
) ;
(
x, y
, . .
m
X
i = p
i=1
m
X
i + p
i=1
n
X
j .
y
j=1
, Yn+1 = Rl+ ( ),
. EU .
EA , :
(1) , EU .
, y
) EA , (
, (
n+1 )) (2) , (
p, x
p, x
y, y
EU ,
n+1 =
y
m
X
i=1
i
x
m
X
i=1
n
X
j .
y
j=1
, y
)
, (
n+1 )) EU , (
p, x
(3) , (
p, x
y, y
EA .
/ 341. m . . , S
x = (x1 , . . . , xm ), y = (y1 , . . . , ym ),
P
P
ys s xs sS ys 6 sS s , i i, i
( , , , , x). ,
x,
.
, xi > 0.
(1) , ,
-.
(2) , , , , .
(3) : , .
/ 342. , , (1, a)
(b, 1) a, b > 0.
/ 343. , . . .
(1) ;
(2) ;
(3) .
/ 344.
( , xi > 0)
1 = (1, 1), 2 = (1, 1)
- ,
- ,
5.2.
214
- .

(A) u(x1 , x2 ) = x1 1 x2 2 ;
(B) u(x1 , x2 ) = 1 x1 + 2 x2 ;
(C) u(x1 , x2 ) = 1 x1 + 2 x2 ;
(D) u(x1 , x2 ) = x1 1 exp(2 x2 ).
/ 345. , . ,
. . .
(1) ;
(2) .
/ 346. , - ,
. .
/ 347. ,
.
. ,
u(x) = x1 + x2 ,
1
1 2 .
/ 348. (1) , ,
. , ,
.
(2) , ,
. ,
() . ,
1 .
.
(3) ,
. (: ,
1
1.)
/ 349. ,
.
u1 (x11 , x12 ) = ex11 x12
u2 (x21 , x22 ) = x21 + x22

u3 (x31 , x32 ) = min{x31 , x32 }
(1) , .
(2) ,
.
(3)
?
5.2.
215
(4) :
1 = (2, 3),
2 = (1, 4),
3 = (2, 1)
/ 350. .
( )?
, , .
/ 351. .
( )? , ,
.
/ 352. , ( m ) , , , , , .
?

? .
??
,
, , .
, ,
, . ,
, . ,
, . .
,
. . , ,
. ,
. . ,
,
.
. l + 1
, m n . I = {1, . . . , m} , J = {1, . . . , n} .
, i- : ui (xi1 , . . . , xil , zi ) = vi (xi1 , . . . , xil )+zi . . 1 . ,
, , zi 2 . ,
i xik > 0.
, , .
(l + 1)- . , i (0, 0, . . . , 0, i ), i > 0. ,
i I . ij > 0, i I, j J , . . ij
i j .
(y1 , . . . , yl , r), yk > 0
k = 1, . . . , l l , r > 0 l + 1-
l . , , 1
:
,
.
2
. , zi .
216
217
(l +1)- 3 .
cj (y1 , . . . , yl ) (
l
(l + 1)- ).
j - (Yj ), :
r min
r
(y1 , . . . , yl , r) Yj .
cj (y) y = (y1 , . . . , yl )
. , .
, y , , Rl+ . ,
cj () Rl+ , . . . ,
Yj cj ().
,
, y r
r > cj (y),
y > 0,
Yj (y, r). ,
Yj ( ), , (y, r) (y0 , r0 ),
(y0 , r0 ) 6 (y, r).
. ( EQ ) , zi > 0 (
+
). ( EQ
).
EQ {(x1 , z1 ), . . . , (xm , zm ), (y1 , r1 ), . . . , (yn , rn )}, :
X
xik 6
iI
yjk k = 1, . . . , l,
jJ
X
iI
zi +
X
jJ
rj =
i ,
iI
rj > cj (yj ) j J,
xi > 0 i I, yj > 0 j J.
+
, EQ
{(x1 , z1 ), . . . , (xm , zm ), (y1 , r1 ), . . . , (yn , rn )}, , , , zi > 0 i I .
3
, , l ,
yj < 0 ; .
6.1. -
6.1
218
. , - :
X
vi (xi )
iI
cj (yj ) max
x,y
jJ
xik 6
iI
yjk k = 1, . . . , l,
(W)
jJ
xi > 0 i I,
yj > 0 j J.
, ,
EQ .
78:
{(
x1 , z1 ), . . . , (
xm , zm ), (
y1 , r1 ), . . . , (
yn , rn )} - EQ ,
n)
m, y
1, . . . , y
(
x1 , . . . , x
(W),
rj = cj (
yj )
zi =
i cj (
yj ).
iI
iI
: () , {(
x1 , z1 ), . . . , (
xm , zm ), (
y1 , r1 ), . . . , (
yn , rn )}
m, y
1, . . . , y
n)
- EQ , (
x1 , . . . , x
(W).
, - i0 I :
vi0 (xi0 ) + zi0 max
vi (xi ) + zi > vi (
xi ) + zi i 6= i0
X
xik 6
iI
yjk k = 1, . . . , l,
jJ
X
iI
zi +
X
jJ
rj 6
i ,
iI
rj > cj (yj ) j J,
xi > 0 i I, yj > 0 j J.
, , , . zi rj
, , (W).
6.1. -
219
m, y
1, . . . , y
n ) (W).
() , (
x1 , . . . , x
zj ,
X
zi =
iI
iI
rj ,
()
jJ
rj = cj (
yj ) j . ,
S = {(
x1 , z1 ), . . . , (
xm , zm ), (
y1 , r1 ), . . . , (
yn , rn )}
EQ . , -.
, EQ ,
S = {(
x1 , z1 ), . . . , (
xm , zm ), (
y1 , r1 ), . . . , (
yn , rn )},
(i I)
vi (
xi ) + zi > vi (
xi ) + zi ,
, , i0 ,
vi0 (
xi0 ) + zi0 > vi0 (
xi0 ) + zi0 .
,
X
vi (
xi ) +
iI
zi >
iI
vi (
xi ) +
iI
zi .
()
iI
S ,
X
zi +
rj =
iI
jJ
iI
rj > cj (
yj ), j J,
zi 6
iI
iI
cj (
yj ).
()
jJ
(), () (),
X
iI
vi (
xi )
X
jJ
cj (
yj ) >
X
iI
vi (
xi )
cj (
yj ).
jJ
m, y
1, . . . , y
n ) (W), , (
x1 , . . . , x
m, y
1, . . . , y
n ) (W).
S (
x1 , . . . , x
+
EQ
(. ). ,
.
, -
EQ (W).
+
EQ
EQ .
+
, - EQ
- EQ , , (W).
6.1. -
220
+
EQ
- , - zi > 0 ,
, .
.
+
- EQ
zi > 0
, -. .
33:
(m = 1), (n = 1)
(l+1 = 2). .
v(x) = 5x3 9x2 +6,9x,
c(x) = x4 . x > 0,
y = x, r = c(x) z+r = , -
v(x) c(x)
x > 0 c(x) 6 . c(x) 6
z > 0. x 6 c1 ().
0,025
0,025
0,05
0,5
1,5
0,075
0,1
0,125
. 6.1.
= 1, c1 () = 1. . 6.1 v(x)c(x) : x1 0,83473 x2 1,6988.
+
x = x1 , . - EQ
[0, 1]. - EQ , ,
(W) x = x2 .
4
, v() . : , v() ,
. , +
EQ
,
vi () , cj (yj ) .
+
EQ
.
79:
1) , vi () , cj () ,
S = {(
x1 , z1 ), . . . , (
xm , zm ), (
y1 , r1 ), . . . , (
yn , rn )}
+
- EQ
, zi > 0 i.
m , y1 , . . . , yn ) (W).
(
x1 , . . . , x
6.1. -
221
m, y
1, . . . , y
n ) (W),
2) , (
x1 , . . . , x
X
cj (
yj ) > 0.
jJ
iI
z1 , . . . , zm > 0,
X
zi =
iI
i cj (
yj )
iI
{(
x1 , z1 ), . . . , (
xm , zm ), (
y1 , c1 (
y1 )), . . . , (
yn , cn (
yn ))} - +
EQ
.
: 1) : +
S - EQ
, ,
- EQ . ,
.
. EQ
yn , rn )},
S = {(
x1 , z1 ), . . . , (
xm , zm ), (
y1 , r1 ), . . . , (
S .
:
[0, 1].
S() = S + (1 )S,
> 0, S()
+
+
EQ
. > 0 S() - EQ
S , .
.
2) .

(W) - .
, vi () , cj () ,
(W) , - EQ (
+
EQ
, zi zi )
{(
x1 , z1 ), . . . , (
xm , zm ), (
y1 , r1 ), . . . , (
yn , rn )},
{(
x1 , z1 ), . . . , (
xm , zm ), (
y1 , r1 ), . . . , (
yn , rn )},
i = x
i i
(l+1)- . , x
j = y
j j J .
I y
, , EQ
( )
X
ui = const.
iI
+
EQ
- , zi > 0 , .
6.1. -
222
u2
14
12
10
8
6
4
2
u1
0
0
10
+
. 6.2. - EQ
34:
+
. 6.3. - EQ
: 2 (l + 1 = 2), 2 ,
u1 = 2 x1 + z1 u2 = 4 x2 + z2 ,

c(y) = y.
2- 10.
, (W) x1 = 1 x2 = 4.
u1 [2, 7]. -
u2 = 15 u1 .
u1 [0, 2] -
u2 = 14
u21
.
4
u1 [7, 11] -
u2 = 4 11 u1 .
+
EQ
(. . 6.3).
.
(W) -, (W) -. ,

X
X
W (x, y) =
vi (xi )
cj (yj )
iI
jJ
. .
S = {(
x1 , z1 ), . . . , (
xm , zm ), (
y1 , r1 ), . . . , (
yn , rn )},
S = {(
x1 , z1 ), . . . , (
xm , zm ), (
y1 , r1 ), . . . , (
yn , rn )}
+
EQ (EQ
). .
6.1. -
223
z2
x1
x2
c(y)
z1
+
. 6.3. - EQ

80:
1) S ,
S , . .
vi (
xi ) + zi > vi (
xi ) + zi i,
4
X
iI
zi +
cj (
yj ) =
jJ
i ,
iI
) > W (
),
W (
x, y
x, y
i0 ,
vi0 (
xi0 ) + zi0 > vi0 (
xi0 ) + zi0
(. . S S ),
) > W (
).
W (
x, y
x, y
) >
2) EQ : S S W (
x, y
0
0
), z1 , . . . , zm ,
W (
x, y
0
{(
x1 , z10 ), . . . , (
xm , zm
), (
y1 , r1 ), . . . , (
yn , rn )},
,
vi (
xi ) + zi0 > vi (
xi ) + zi i.
: .
, - W ().
) > W (
), S , W (
x, y
x, y
( ), S
4
, , .
6.2.
224
. , zi ,
+
EQ
.
- . W

. W
W (S) S :
W (S).
DL = W
,
, .
6.2
,
( , ,
. .). , . ,
(xi , zi ) (p, 1), EQ :
vi (xi1 , . . . , xil ) + zi max
xi ,zi
pxi + zi 6 i ,
(CQ )
xik > 0.
+
EQ
zi > 0. (+
(CQ ).) i .
, .
81:
i
, (
xi , zi ) (CQ ) p. x
:
vi (xi1 , . . . , xil ) pxi max
xik > 0.
(,)
i (,), (
, x
xi , i p
xi ) (CQ )
p.
: .
, l .
+
(CQ
),
zi > 0, .
82:
, vi () , (
xi , zi ),
+
+
i
(CQ
) p ( EQ
), zi > 0. x

vi (xi1 , . . . , xil ) pxi max
xik > 0 k
(~)
6.2.
225
i (~), i 6 p
, x
xi , (
xi , i p
xi )
+
(CQ
) p i .
: .
, vi () .
+
(CQ ) ( (CQ
) zi > 0)

vi (
xi ) 6 p,
x
ik > 0,
vi (
xi )
= pk .
xik
i > 0) , , zi > 0
, ( x
+
(CQ
)),
vi (
xi ) = p.
, vi (), ,
, . , vi () pi (xi ) i
l ,
.

, , . .

ui (xi1 , . . . , xil , zi ) = vi (xi1 , . . . , xil ) + zi =
vik (xik ) + zi .
kK
i- , (CQ ) l (l + 1)-:
vik (xik ) pk xik max
xik >0
(CQk )
83:
i (CQ ) p, x
x
ik
(CQk ) pk . , x
ik (CQk ) pk k = 1, . . . , l ,
i = (
x
xi1 , . . . , x
il ) (CQ ) p = (p1 , . . . , pl ).
: .
, k -
, . . xik (pk ).
( )
+
i , zi ) ( EQ , EQ
( x
zi> 0)
:
vik (
xik )
6 pk ,
xik
x
ik > 0,
vik (
xik )
= pk .
xik
, vik () .
6.2.
226
83 , ,
k - (CQk ). , vik (xik )
, .
, , (CQk ) , .
,
k - pk , xik (pk ).
(CQk ). (, 83
, (CQ ) , (CQk ) k = 1, . . . , l .)
5
vik (xik )
p = sup
xik
xik >0
vik (xik )
p = inf
.
xik >0
xik
, pk , p < pk < p, (CQk ) .
vik (xik )/xik , xik ,
vik (xik )
= pk .
xk
xik pk .
, pk 6 p (CQk ) . .
pk 6 p xik (pk ) > 0.
( )
vik (xik (pk ))
6 pk .
xik
, pk 6 p
vik (xik (pk ))
vik (xik )
6 inf
x
>0
xik
xik
ik
vik (xik )/xik xik (pk ) + .

vik (xik (pk ) + )
vik (xik (pk ))
<
xik
xik
> 0.
vik (xik (pk ) + )
vik (xik (pk ))
vik (xik )
<
6 inf
= p.
x
>0
xik
xik
xik
ik
xik (pk ) + > 0, . ,
(CQk ) pk 6 p ,
, pk 6 p (CQk ) .
, xik (pk ) 0 pk . : p =
p < .
p = . pk > p, xik (pk ) (CQk ) ,
(xik (pk ) > 0), pk > p vik (xik )/xik xik .
, pk > p:
vik (xik (pk ))
= pk ,
xk
5
p .
6.2.
227
xik (pk ) pk > p.

{pnk },
lim pn
n k
= .
{pnk } {pnk s }. {pnk s }

{xniks }
vik (xniks )
= pnk s .
xik
lims pnk s = , , {xniks } , xniks +1 < xniks .
pk > p (CQk ) , , xniks > 0 ns ,
. x
ik
x
ik > 0. , , {pnk s } ( vik (xik )/xik ) vik (
xik )/xik ,
. , , , x
ik = 0
, xik (pk ) 0 pk .
p < . vik (xik )/xik
vik (xik )
vik (xik )
= max
.
xik 0
xik >0
xik
xik
p = lim
pk > p
vik (0)
6 pk .
xik
, pk > p , . . xik (pk ) = 0,

. , (CQk )
, xik (pk ) = 0 . ,
xik (pk ) 0 pk .
6.2.1
: ,

, vi (xi ) .
xi = xi (p), . . p.
CSi = vi (xi1 , . . . , xil ) pxi vi (0)
. , vi (0) = 0.
, . . vi (xi1 , . . . , xil ) =
Pl
k=1 vik (xik ). , :
CSi =
l
X
k=1
CSik = vik (xik ) pk xik .
(vik (xik ) pk xik ) =
l
X
k=1
CSik ,
6.2.
228
pk
CS
pik ()
xik
. 6.4.
k - , (. . 6.4).
. :
CSi (p) =
l
X
[vik (xik (pk )) pk xik (pk )] =
k=1
l
X
CSik (pk ).
k=1
CSik (pk ) = vik (xik (pk )) pk xik (pk ) pk > p , ,

6 .
, xik (pk ) 0 pk , vik (xik (pk )) 0 pk .
pk xik (pk ) 6 vik (xik (pk )),
, . . pk xik (pk ) 0 pk .
CSi (p) , . , (
), xik (pk ) > 0
xik (pk ) =
CSi (p)
CSik (pk )
=
.
pk
pk
( .)
xik (t) > 0 t > pk ,
,
Z
Z
CSik (t)
dt =
xik (t)dt.
t
pk
pk
CSik (p) lim CSik (t) =

t
xik (t)dt,
i k 7
Z
CSik (p) =
xik (t)dt + lim CSik (t).

t
6
xik = 0 C1k (pk ) , CSik (pk ) = vik (xik (pk )) pk xik (pk ) > vik (0)
pk 0 = 0 , , , CSik (pk ) > 0 .
7
, pk , xk (t) > 0 t < pk xk (t) = 0 t > pk ,
pk 6 pk
Z pk
Z pk
CSik (t)
dt =
xik (t)dt.
t
p
p
k
6.3.
229
:
lim CSik (t) = 0,
CSik (p) =
xik (t)dt.
, pik () xik (), 8

Z
xik (p)
CSik (p) =
pik (q)dq pxik (p),
,
:
CSi (p) =
l
X
CSik (p) =
k=1
l Z
X
k=1 0
6.3
xik (p)
l Z
X
xik (t)dt =
k=1 pk
pik (t)dt p
l
X
xik (p).
k=1
, . ,
. .
, j -
pj = pj (yj ).
.
( ), , , j -
:
j = pj (yj )yj cj (yj ) max .
yj >0
pj (yj ) cj (yj ) ,
yj j
??? ???pjk (yj )yj + pjk (yj ) c0jk (yj ) 6 0,
yjk > 0,
???pjk (yj )yj + pk (y j ) c0jk (yj ) = 0.
, ,
. :
pjk = pjk (yjk ).
8
6.3.
230
, , . .
cj (yj ) =
l
X
cjk (yjk ).
k=1

j =
l
X
[pjk (yjk )yjk cjk (yjk )].
k=1
, l . :
p0jk (yjk )yjk + pjk (yjk ) 6 c0jk (yjk ),
yjk > 0
p0jk (yjk )yjk + pjk (yjk ) = c0jk (yjk ).
, ,
pjk (yjk ) = const,
( ,
), p0jk (yjk ) = 0
pjk 6 c0jk (yjk ),
yjk > 0
pjk = c0jk (yjk ).
k - j - .
k - .
6.3.1
, , , ,
,
p. p
, . .
P Sj = j = pyj cj (yj ).
pk
cjk ()
PS
yjk
. 6.5.
6.4.
231
, , l :
P Sj =
l
X
[pk yjk cjk (yjk )] =
k=1
l
X
P Sjk .
k=1
k - :
yjk
P Sjk =
[pk c0jk (t)]dt cjk (0).
( cjk (0)) , ,
(0, pjk ) , c0jk (yjk ) (
). , cjk (0) = 0 ,
yjk
P Sjk =
6.4
[pk c0jk (t)]dt.
, {(x1 , z1 ), . . . , (xm , zm ), (y1 , r1 ), . . . , (yn , rn )} , (xi , zi ) (CQ ) i- p

p
xi = p
yj .
jJ
iI
W (x, y) =
vi (xi )
X
iI
vi (xi ) p
xi +
cj (yj ) =
jJ
iI
(pyj cj (yj )) = CS + P S,
jJ
iI
CS =
CSi
iI
,
PS =
j (p) =
jJ
P Sj (p)
jJ
.
, W (x, y), , .
????, p , ,
X
X
p
xi = p
yj
iI
jJ
. , -,
W (x, y) .

l :
CS =
l
X
k=1
CSk , P S =
l
X
k=1
P Sk .
6.5.
6.5
232
, .
, , .
, EQ .
xi (p) i- l p.
X(p) =
xi (p).
iI

X(p).
, (x, z), x > 0, :
u(x, z) = v(x) + z.
(
1- x
):
X
vi (xi ) max
x1 ,...,xm
iI
,
xi 6 x
(d)
iI
xi > 0.
= x. , X(p)
v(x) x
, u(x, z) =
v(x) + z , p > 0.
. ,
:
v(x) px max .
x>0
> 0,
x
v(
x) p
x > v(X(p)) px(p).
, X(p) =

iI
= X(p),
xi (p), xi (p) (d) x
v(
x) p
x>
vi (xi (p)) p
iI
, v(
x) =

X
iI
iI
xi (p).
iI
m ) (d) x
=x
.
vi (
xi ), (
x1 , . . . , x
vi (
xi ) p
X
iI
i >
x
X
iI
vi (
xi ) p
x>
X
iI
vi (xi (p)) p
X
iI
xi (p).
6.6.
233
,
vi (
xi ) p
xi > vi (xi (p)) pxi (p),
xi (p).
,
X
v(X(p)) =
vi (xi (p)),
iI
, , .
P
. v(X(p)) <
iI vi (xi (p)) , a xi (p)
= X(p). , p ,
(d) x
v(X(p)) >
vi (xi (p)).
iI
m ) (d) x
= X(p). v(X(p)) =
(
x1 , . . . , x
,
X
X
vi (xi (p)).
vi (
xi ) >
iI
vi (
xi ).
iI
iI
,
X
i 6 X(p) =
x
iI
xi (p).
iI
p:
p
i 6 p
x
iI
xi (p).
iI
,
X
vi (
xi ) p
i >
x
iI
iI
X
iI
vi (xi (p)) p
xi (p).
iI
6.6
/ 353. ?????.
/ 354. ?? ) vi ()
cj (), , zi > 0 i ?????.
?? ) , ,
?????.
/ 355. ?? ??.
/ 356. ,
(EQ ) - ui
P
iI ui = const.
/ 357. ??? ??, ?? 83.
/ 358. , xk (pk ) > 0
xk (pk ) =
CSi (p)
CSik (pk )
=
.
pk
pk
6.6.
234
/ 359. (x, y) , p > 0

, xi p,
p
xi = p
yj .
jJ
iI
,
X
ui (xi , zi ) = W (x, y) +
iI
iI
/ 360. (l + 1 = 2) ,
u1 = x1 +z1 u2 = 2 x2 +z2 . .
/ 361. u1 = 3/x31 + z1 u2 = 3/x32 +
z2 .
/ 362. (i = 1, . . . , m)
(A) ui = 2i xi + zi , (B) ui = i2 x1i + zi , (C) ui = 2i ln xi + zi .

.
/ 363.
. ,
(l + 1 = 2). xi (p) i- p, D(p) =
P
xi (p) , p(x) = D1 (x)
. , p(x)
x > 0. ,
Z
x
p(q)dq,
v(x) =
0
v(x) + z .
/ 364.
D(p) =
1
.
4p2
.
/ 365. 2 2- 1. 1-
. , . .
/ 366. l + 1 (l + 1)- 1.
l
. , .
?
() , :
, ( ) :
, . . , , , . ,
.
,
, A, S () X . xa (s) X ,
, s S ,
a A. , , . , X = R ( R+ ).
( ).
.
, S . .
S
, xa (), a ,
a .
. x
, , , ,
, S : S = {1, . . . , N }.
a :
x
1
...
xa1
xa2
...
xaN
a1
a2
...
aN
as > 0 , s , P
a ( a). : sS as =
1.
a , , , x
a
. , x
xa (), as ,
a
. . , . x
.
, , .
,
A. , ,
, xas as ,
235
7.1.
236
. , (a, x
), x

A X
xs s (s S ).
, , , , A X
, a . ,
xs
S , ( ) , a.
xs , a . , ,
, :
a, b A
(a, x
X
) (b, x
).
x
.
, , X
, X ,
. , X M , M () = {s }sS ,
P
s > 0 s S sS as = 1.
,
X
U () ( ).
.
7.1
, , {<, , }
. , , ( , ):
{<, , }.
(A1 0 ) A X
, () , . ,
, ,
,
.
, , ,
:
U (
x) =
s u(xs ).
sS
U () ( ), u(), X , ( )1 .
1

John Von Neumann and Oskar Morgenstern. Theory of Games and Economic Behavior,
7.1.
237
, , ,
.
x
.
, xs , .
. ,
, ,
, ,
.
, . , , : ,
. 1
2 -, 1 2 -, 3
1 -. , (1, 2)
2/3, (3, 1) 1/3.
. {x j }
x
xs , ( ,
). x j pj ,
, x j ,
pj =
s .
s:xs =x j
( )
X . x
`(
X
x).
L:
n
o
.
X
L = `(
x) x

, x

, X
, .
. , :
, X
00
, y
X `(
y
.
(A1 ) x
x) = `(
y), x
, L, ,
.
L .
, .
S X
, L . ,
L , .
Princeton University Press, 1944 (. .: . , . .
. .: , 1970). (. .
?? . ??).
7.1.
238
53:
, . . (Xp , p),
Xp X , p Xp .
, L .
L ,
.
, , .
, .
(, ,
x j ):
x 1
x 2
x k
p1
p2
pk
p(),
X , , p(x) = 0, x
/ Xp p(xj ) = pj . (Xp , p) p, p
p(). .
p Xp , . . , Supp(p).
Supp(p) =
x X p(x) > 0 .
,
X
p(x) = 1.
xSupp(p)
S . , S .
(A1 0 ) (A1 00 ) , (). ,
:
(A1) S {<, , }.
, .
54:
p, q S [0, 1] () pq ,
p q:
Supp(p q) = Supp(p) Supp(q),
x
p(x) + (1 )q(x), x Supp(p q).
. 7.1.
p q , : ,
7.1.
239
. 1 : p, 1
q. ,
: .
, , (A1 00 ). ,
. 7.1 ,
,
.
p
x1
1p
x2
x1
p+(1)q
x1
(1p)
(1)(1q)
1q
()
x2
x3
()
x3
. 7.1. () , p q () p q
, S
: p, q S , p q S , [0, 1]. ,
S .
,
:
(A2) :
p q r . , 0 < 6 1
p r q r.
. , p , q. ,
p q, ,
1 p q, , r. ,
p. , , , : , p r 1 ,
, q r 1. ,
, , p r q r.
(A3) :
p q r, , (0, 1),
p r q p r.
, q r, p, ,
p r , q:
, q, , q.
,
( ).
55:
U (), , ,
7.1.
240
X u(),
U (p) =
p(x)u(x).
xSupp(p)
2 .
84:
S
(A1)-(A3), U (), . .
84 ( S ), U (p),
. , , , . ,
(A1)-(A3) , , X , (. . X )
( ) , U (p)
, .
, ,
, .
, U p L. ,
.
X
x
( U (
x)), y
, , x
y
, , , U (
(A1 00 ) x
x) = U (
y).
U (
x) s . , ,
, p(x), x Supp(p),
s :
U=
X
xSupp(p)
p(x)u(x) =
k
X
pj u(x j ) =
j=1
k
X
X
j=1 s:xs =x j
s u(xj ) =
s u(xs ).
sS
,
:
X
X
U (
x) =
s u(xs ).
sS
, , ,

U (
x) = E u(
x).
E . ,
.
, s S .
2
, .
. (N. E. Jensen: An Introduction to Bernoullian Utility
Theory, I: Utility Functions, Swedish Journal of Economics 69 (1967): 163183.
7.2. :
241
E, ,

. E ,
U ().
, (A1 00 )
. ,
. , ,

. ,
. . ,
, ,
.
( , ) ,
: ( , ).
, zs (x), x s z. ,
. , z,
, x. u0 (z) ,
, us (x) = u0 (zs (x))
, . , .
:
U=
s us (xs ).
sS
7.2
84. . .
85:
S :
p 1 q = p,
p 0 q = q,
p q = q (1 ) p,
(p q) (p q) = p ( + (1 )) q.
.
.
56:
U (), ,
, p, q S [0, 1]
U (p q) = U (p) + (1 )U (q).
7.2. :
242
, , .
86:
U () ,
S , , .
: (x) , x ,
. .
Supp((x)) = {x}.
u() X
u(x) = U ((x)).
P
U (p) = xSupp(p) p(x)u(x). .

k , p k + 1
. x0 , . . x0 Supp(p).
p = (x0 ) p(x0 ) q,
q Supp(q) = Supp(p)\x0 q(x) = p(x)/(1 p(x0 )) x Supp(q).
U ()
U ((x0 ) p(x0 ) q) = p(x0 )u(x0 ) + (1 p(x0 )U (q).

U (q) =
q(x)u(x) =
p(x)/(1 p(x0 ))u(x).
xSupp(q)
xSupp(q)
U (p) = (p(x0 )u(x0 ) + (1 p(x0 ))
p(x)/(1 p(x0 ))u(x) =
xSupp(q)
p(x)u(x).
xSupp(p)
, .
87:

U (), (A1)-(A3).
: (A1) (A1) .
(A2) ( )
p q. U (p) > U (q).
r , , 0 < 6 1.
U (p r) = U (p) + (1 )U (r) >
> U (q) + (1 )U (r) = U (q r).
7.2. :
243
p r q r.
(A3) ( )
p q r,
U (p) > U (q) > U (r).

>
U (q) U (r)
,
U (p) U (r)
(U (p) U (r)) > U (q) U (r), p r q. ,
U (q) U (r)
<
,
U (p) U (r)
q p r.
(A1)-(A3),
, , . 3 , ( 4 ):
(A4) S w b :
w .
: , > p q p q.
6= 0 r = p q.
r q = (p
3
q) q = p q = p q.
, X .
. . P. C. Fishburn: Utility Theory for Decision Making, John Wiley & Sons, 1970 (. . . : , .: , 1978). .
4
7.2. :
p q, (A2)
p=p
244
(0, 1]
p p q = r.
p r (0, 1] (A2):
p q r q,
p q p q.
,
p q p q ,
6= 0. = 0
pq=p0q=q=qq
, , (A2) q q p q.
. p q p q,
> . > , p q p q,
. = , p q = p q,
. , .
f () [0, 1], . .
f () = b w.
f ([0, 1]). ,
b w . f () ,
[0, 1] f ([0, 1]), 6=
f () 6= f (). , f ()
.
89:
p S U (p) [0, 1] , f (U (p)) p. U () ,

.
: p S , f ([0, 1]).
p b p w U (p) :
1 0 .
w p b.
, f ([0, 1]), p,
A+ :

A+ = [0, 1] p f () .
, f ([0, 1]), p,
A :

A = [0, 1] f () p .
, 1 A+ 0 A .
A+ , A , ,
+ = inf A+ , = sup A .
7.2. :
245
6 + ;
A , A+ , .
, f (+ ) 4 p 4 f ( ), . . +
/ A+
/ A . .
, , w p f (+ ). (A3) > 0,
w f (+ )
w f (+ ) p.
w f (+ ) = w (b + w) = b + (1 ) w = f (+ (1 )),
, f (+ (1)) p. , + (1) A+ ,
+ . , f (+ ) p . f (+ ) 4 p.
. ,
f (+ ) 4 p 4 f ( ).
88 6 +
f ( ) 4 f (+ ),
f ( ) p f (+ ).
, U (p) = + . U (p) .
U (p) 88.
, U (p) . 88 ,
f ([0, 1]) , :
f () f () < .
p, q S p q , f (U (p))
f (U (q)).
p q U (p) < U (q).

, , .
90:
U (), f (U (p)) p, .
( )
, .
: ()
, p, q S , [0, 1],
U (p q) = U (p) + (1 )U (q).
= 0 = 1 .
0 < < 1.
, , p, q S
U (p q) < U (p) + (1 )U (q).
7.2. :
246
0 6 < U (p) 0 6 < U (q),

U (p q) = + (1 ),
p q f ( + (1 )).

f ( + (1 )) = b ( + (1 )) w =
= (b w) (b w) = f () f ().
 U (p)+
(1 )U (q). ,
U (p q) = U (p) + (1 )U (q).
()
, V () .
V (p) =
V (p) V (w)
.
V (b) V (w)
. , V (p) = U (p). V ()
, V (p) . , V () U ()
:
V (w) = U (w) = 0 V (b) = U (b) = 1.
, V () U () f ([0, 1]).
S f ([0, 1]), V () U ()
S .

, , , ,
84. , (A4). (
84 371.)
91:
S
(A1)-(A4), U (), . .
7.3.
7.2.1
247
/ 367. , ,
(A2). , p q, r s, p r q s ( [0, 1]).
/ 368. , ,
(A2). , p q, p q q ( [0, 1]).
/ 369. (A1)-(A3). , p < r < q,
[0, 1], p q r.
/ 370. (A1)-(A3). , p q, r
, p r q r ( [0, 1]).
/ 371. 84, . . , (A4).
: p q , p q. , , ,
{ r p < r < q }. s . ,
, :
p < s < q,
s < p < q,
p < q < s.
, , , { r p < r < q } s : s < p < q (p < q < s). ( ) ( ) ,

p = s q (q = p s)
U () :
U (p) = U (s) + (1 )U (q) (U (q) = U (p) + (1 )U (s)).
, U ()
{ r p < r < q }.
7.3
, . , ,
, .
-.
k K , s S . xks k ,
( ) s.
, S =
{1, . . . , s}. . i-
xi = {xiks }k,s . , is ,
i
xi ( ), x
( l - , xis
is ). , ,
() , . Ui ().
7.3.
248

(, ), .
, i .
, , , U () , U (x) U (
x).

( ):
57:
, U ()
( x) .
,
U ()
, U () .
, U () .
, , , , ,
. , .
. 7.2 () . , x1 , x2
.
x2
a)
x2
x2
x1
x1
x1
. 7.2. : ) ,
) , )
, U ()
( ). ,
U ():
U (x) =
s u(xs ),
sS
s s S , xs X s ( ), u(xs ) ( )
u() : X 7 R,
, .
7.3.
249
,
U ()
, . , ,
.
, () :
U (x) = E u(
x).
,
.

.
58:
U ()
() (), u() () , , , () () () .
a)
u(x)
u(x)
u(x)
x
. 7.3.
: ) , ) , )
, u()
U (), (, , ). u()
U (), .
, , .
,
. .
, s (xs )
( ). (
).
E x
.
X
Ex
=
s xs .
sS
7.3.
250
- : E(u(
x)) > u(E(
x)),
- : E(u(
x)) < u(E(
x)),
- : E(u(
x)) = u(E(
x)).
( ,
x
, , ).
, (E(u
x)) > u(E(
x)) (
) , .
. E(u(
x)) < u(E(
x)) ,
x
.
x
,
: xs = E x
s S .
5 x

x , x

:
E u(
x) =
s u(xs ) = E u(
x ) = u(x ).
sS
x x
,
E x
x x
:
E u(
x) = u(E x
x).
, ( ) , .
( ). , ( ),
(
). .
. . 7.4
( ). , (A B ) (A B ).
x = (xA , xB ), xA xB ,
, A B . ,
(E x
, U ) , (xA , u(xA )) (xB , u(xB )) B A . E x
, U .
, ,
U = E u(
x) u(E x
). x
, U (
x) = u(x ). x
.
35 (- 6 ):
, ; , 1 , 2
, 4, 8 ,
. : ?.
, .
5
. certainty equivalent.
7.3.
u
251
u(x)
x
u(E
x)
U (
x)=Eu(
x)
xA x
E
x
xB
. 7.4.
. , .
.
, () .
, + 2k1 2k
(k = 1, 2, . . . , ). ( p, )
Ex
=
2k ( + 2k1 p) = .
k=1
u() ,
U = E u(
x) =
2k u( + 2k1 p).
k=1
x ,
x .
, u(x) = ln(x) = 100, ,
,
2k ln(100 + 2k1 p) = ln(100).
k=1
, ,
p 4,36 < ,
4 .
7.3.1
/ 372. u(x) = x.
9 2/3 25 2/3. .
/ 373. . ().
$3 $5 1/2 1/2 $3 $9 2/3 1/3
. ,
7.3.
252
() ;
() ;
() ?
/ 374. (),
u(x) = x, ( ) $9.
, $0 0,5 ( )
$7 0,5 (). :
(1) x ?
(2) y () ( , 9- $1
9- $1 )?
(3) , z ?
/ 375. ( ) u(x) =
1/x $900 , $900 1/2 $0 1/2. ?
/ 376. 100 . . . 0 . . 20
. . (1 ). 5 . .
(1) ?
(2) ( )?
(3) , ?
( , )
/ 377. : a,
a 1/3 (a) 2/3.
,

u()?
(a) u(x) = x; (b) u(x) = eax ;
(c) u(x) = x1 ;
(d) u(x) = ln x; (e) u(x) = ax bx2 ; (f) u(x) = a x + bx.

/ 378. ,
u(x) = x,
, a 1/2. ,
a , ,
( ) .
/ 379. ,
u(x) = x,
. , a
1/2. p ,
.
(1) p = 9 a = 16?
(2) , p . . .
- a;
- ;
- a/4 .
/ 380.
$1000, . ,
20% , .
0,1. ?
?
7.4.
253
/ 381. $900,
u(x) = x , $300 ,
$900 .
,
, 0,75 , 0,75
?
7.4
,
. , (-) . (k, s). ,
k ( ) s.
. ( ,
.
.)
(. .
- ), ,
. , ,
k1 s1 ( ) k2 s2 .
.
, , ,
. , , ,
.
, .
, . pks
(k, s) ( k
, s, . . ).
:
Ui (xi ) =
s ui (xis ) max
xi
sS
X X
sS kK
pks xiks 6
X X
pks iks ,
sS kK
xis Xi s S.
, , , ,
k s.
:
Ui /xik1 s1
pk s
= 1 1 , k1 , k2 K, s1 , s2 S.
Ui /xik2 s2
pk2 s 2
, ( ),
7.4.
:
254
s1 u0ik1 (xis1 )
pk s
= 1 1 , k1 , k2 K, s1 , s2 S,
0
s2 uik2 (xis2 )
pk2 s 2
u0ik () k - .
.
36 (( )):
, 1 , 1 ( ) , 2
2 (2 < 1 ). ()
( , y ), [0, 1] , y
. y ,
y y . ,

x1 = 1 y,
,
x2 = 2 + y y.
, , (
).
, (
), , y :
(1 )x1 + x2 6(1 )1 + 2 .
, 1
2
p1 /p2 = (1 )/.
,
U = (1 )u(x1 ) + u(x2 ),
u0 () (. . ),
.
U/x1
(1 )u0 (x1 )
1
=
=
.
0
U/x2
u (x2 )
, u0 () ,

. = ( )
u0 (x1 ) = u0 (x2 ).
, , x1 = x2 ,
:
y = 1 2 .
7.4.
255
<
x2
>
x1
. 7.5.

, ( > ), ,
u0 (x1 ) < u0 (x2 ),
x1 > x2 . . , <
.
??
, , , .
,
x
x1 (1 ), x2 .
(1 )1 + 1 ,
= E x
y . , ,
.
.
> ( < ) y E x
(). y () . , , . , > , y 6 1 2 ,
, E x
< , y > 1 2 . . , 6=
(y = 1 2 ).
4
7.4.1
/ 382. x u(x), u()

. $40000
$10000.
(A) 0,02 , $9000.
, $1 $0,02? , ,
$0,02? .
(B) $1 $0,02 ,
$11000. , 0,02? , ,
0,02? .
7.5. ( )
256
(C) 0,01 , $1
$0,02. , $10000? , ,
$10000? .
/ 383. , 381 . 253 ,
$300 .
?
/ 384. ,
, .
/ 385. . , s t
s ,
.
/ 386. .
() , ,
, ,
.
() , ,
.
() , , , , .
/ 387. p
x. ,
P
P
= sS ps .
= sS s xs p
, . . x
P
x
> sS ps xs .
() , p
() ,
, .
7.5
( )

.
.
7 k K = {1, . . . , l}. .
, . ( > 0).
( ). rk k - , . .
. , . , , rk
rks (s S ) s .
zk k K
:
7
, k = 0 (. ).
, :
(0 , . . . , l ) :???
r k = .
7.5. ( )
257
^ , , . .
zk > 0.
^ , . .
X
zk 6 .
kK
.
{zk }kK . () :
X
x
=
zk rk .
kK
, x

xs =
zk rks
kK
s .
, ,
X
s u(xs ).
U = E u(
x) =
sS
, u() , u0 () ( ).
(
), ,
k - , zk ,
k = zk /.
x
=
k rk .
kK
:
U = E u(
x) = E u(
k rk ) max .
k
kK
k 6 1, k > 0, k K.
kK
k = 0 rk = r0
( ). r0 .
K = {0, . . . , l}.
, , . . k < 0.
r0 .
u0 (x) ,
P
, . . 0 = 1 k6=0 k .
0 ,
E u((r0 +
X
k6=0
k (
rk r0 ))) max .
k
7.5. ( )
258

8 . , .

E[u0 (
x)(
rk r0 )] 6 0, k 6= 0.
, k > 0,
E[u0 (
x)(
rk r0 )] = 0.
E[u0 (
x)
rk ] = r0 E u0 (
x).
, u() ( )
E, , , .
.
.
. :
E u((0 r0 + 1 r1 )) max .
0 ,1
0 + 1 6 1,
1 > 0.
0 , :
U = E u((r0 + 1 (
r1 r0 ))) max .
1 >0
U (1 ) :
U (1 )
= E[u0 ((r0 + 1 (
r1 r0 )))(
r1 r0 )] =
1
= (E[u0 (
x)
r1 ] r0 E u0 (
x)).
( ) (1 > 0) (1 = 0).
1) 1 > 0, U (1 )/1 = 0,
E[u0 (
x)
r1 ] = r0 E u0 (
x).
, u0 (
x) r1 ,
E[u0 (
x)
r1 ] < E u0 (
x) E r1 .
( u0 (
x) r1 ). , E u0 (
x) > 0 ( ),
, r0 < E r1
2) 1 = 0, x
= r0 (. .
). ,
U (1 )
= u0 (r0 )(E r1 r0 ).
1
8
, . , ,
.
7.5. ( )
259
U (1 )/1 6 0
, :
E r1 6 r0 .
U (1 )
U (1 )
U (1 )
. 7.6.
, , 1-
(1 > 0) ,
(E r1 > r0 ).
, E r1 > r0 ,
, .
92 (( 9 )):

u(), , ,
3 u0 (x) ;
3 () 10 ;
3 0 > 0 ;
3 , , .
k K , (E rk > r0 ) , . . k > 0.
: ,
( > 0 )
E[u0 (
x)(
rk r0 )] 6 0, k 6= 0,
, k = 0, k 6= 0 (k - ). rk
x
( x
). , rk u0 (
x) (
). , ,
,
E rk E u0 (
x) 6 r0 E u0 (
x).
E u0 (
x) > 0, E rk 6 r0 . , E rk > r0 , k = 0,
. . .

10
(. ).
7.5. ( )
260
,
.

E() = Cov(, ) + E() E().
( k - , . .
k > 0),
E[u0 (
x)
rk ] = r0 E u0 (
x).

E rk = r0
Cov(u0 (
x), rk )
.
0
E u (
x)
Cov(u0 (
x), rk )
0
E u (
x)
k - .
, ,
,
. , . ,
, ,
. , ,
.
, ,
. , , .
. , ,
, , , ,
.
7.5.1
/ 388. m , .
, ?
/ 389. u(x) = ln x
n ri = 1+1/i,
r0 = 1,1. ,
.
/ 390. , r0 ,
r1 > r0 , r2 > r0 . , .

) ;
7.5. ( )
261
) ;
) ?
/ 391. , K ,
.
(A) u(x) = ex ( > 0). ,

(K ).
(B) u(x) = x (0 < < 1), u(x) = x ( > 0) u(x) = ln x. ,

().
/ 392. . , u()?

(a) u(x) = x; (b) u(x) = eax ;
(c) u(x) = x1 ;
(d) u(x) = ln x; (e) u(x) = ax bx2 ; (f) u(x) = a x + bx.

/ 393. u = x3 . A B
A = 2/3 B = 2/3. 10
. :
x1A = 1, x2A = 2, x1B = 4, x2B = 3. .
/ 394. , , 2 (
1/2) , 1 ( ). , ,
. , ,
u(x) = ln x.
/ 395. , , 2 (
1/2) 10 , ( ). , ,
. , ,
u(x) = ln x.
/ 396. , , 4 (
) 1 , 2 ( ). , ,
. , ,
u(x) = ln x.
/ 397. , , 4 (
1/4) , 1 (
). , ,
( ). ,
,
u(x) = ln x.
/ 398. [, ]
,
r [0, 1]:
() r1 = (1 )
r;
() r1 = r + (
r r), r = E(
r).
-
? .
7.6.
262
, ,
(
)11 .
/ 399. [, ] , ,
, (, ) (. . ), (, ).
.
7.6
,

;

;
,
, ???.
,
.
, 1
2 1 . . , , , ,
x
= + , ,
1, . .
E(u( + )) > u().
u( + 1 ) + (1 )u( + 2 ) > u().

(1 , 2 ) (
) E().
(1 , 2 ) E().
, I ,
, III . , II IV , ,
. u() ,
E() . ( .)
, , :
u( + 1 ) + (1 )u( + 2 ) = u().
11
(E)
,
.
7.6.
263
E()
1
2 (1 )
. 7.7. ,
2 = 2 (1 ) . < 1
. 2 = 2 (1 ) (E) 1
0. , , 2 (0) = 0
u0 () + (1 )u0 ()02 (0) = 0.
E() (0, 0).
1
. ,
1 ,
E(). , 2 , 1
( ).
. ,
E 1 (), E 2 (). E 2 () E 1 () ( ),
, , .
2
E 1 ()
E 2 ()
1
. 7.8.
E 2 () E 1 () E 1 () E 2 () ,
, .
, (, ) .
.
, , (E) 1 0.
h
u00 () + (1 ) u00 ()(02 (0))2 + u0 ()002 (0) = 0.
7.6.
264
, 02 (0) = 1
,
002 (0) =
u00 ()
.
u0 () (1 )2
, E 1 () E 2 () , . , 002 (0)
, , E 2 () E 1 (). (, .) u00 ()/u0 ()
.
.
59:

(x) =
u00 (x)
.
u0 (x)
.
, , .

. ,
. , x(
x)
x
, E x
x(
x) x
:
E u(
x) = u(E x
x(
x)).
, . ,
,
.
. , u() , v(), G()
, u(x) = G(v(x)) x, u() .
, ,
.
93 (( )):
, u1 () u2 (),
u0i (x) > 0 u00i (x) 6 0 x, i = 1, 2.
:
(i) 1 (x) > 2 (x) x, i () , ui ().
(ii) G() , u1 (x) = G(u2 (x)) x.
(iii) x
(Var(
x) 6= 0)
x1 (
x) > x2 (
x).
7.6.
265
: (i) (ii)
G(),
u1 (x) = G(u2 (x)).
( (i) (ii) G()
u2 () :
G(x) = u1 (u1
2 (x)).
u2 () , .)
, G() . :
u01 (x) = G0 (u2 (x))u02 (x),
u001 (x) = G00 (u2 (x))u02 (x) + G0 (u2 (x))u002 (x).
, , G0 (u2 (x)) > 0.
,
G00 (u2 (x))
.
1 (x) = 2 (x) + 0
G (u2 (x))
G0 (u2 (x)) > 0, 1 (x) > 2 (x) G00 (y) 6 0 y = u2 (x),
G() , 1 (x) > 2 (x)
x.
(ii) (iii)
u1 () u2 () u1 (x) = G(u2 (x)) x,
x

u1 (E x
x1 (
x)) = E u1 (
x) = E G(u2 (
x)),
u1 (E x
x2 (
x)) = G(u2 (E x
x2 (
x))) = G(E u2 (
x)).
u1 () , x1 (
x) > x2 (
x) , u1 (E x
x1 (
x)) 6 u1 (E x
x2 (
x)), . . , E G(u2 (
x)) 6 G(E u2 (
x)).
G() , E G(u2 (
x)) 6 G(E u2 (
x)),
x1 (
x) > x2 (
x).
, x1 (
x) > x2 (
x), E G(u2 (
x)) 6 G(E u2 (
x)),
G(). (,
.)

.
, , :
u00 (x)x
.
u0 (x)
( ).

, : , . .
7.6.
266
:
, . .
()
.
U = E u(r0 + z(
r r0 )) max .
>0
, z() R+ E r > r0 , . .
(z() > 0).
94:
(x) ,
, . . z 0 () > 0.
:
E[u0 (
x)(
r r0 )] = 0,
x
= r0 + z()(
r r0 ).
:
E[u00 (
x)(
r r0 )(r0 + z 0 ()(
r r0 ))] = 0,

r0 E[u00 (
x)(
r r0 )] = z 0 () E[u00 (
x)(
r r0 )2 ],
z 0 () = r0
E[u00 (
x)(
r r0 )]
,
E[u00 (
x)(
r r0 )2 ]
, ,
u00 (x) < 0. , .
r r0 : , . r = r > r0 . ()
z>0
(r0 + z(r r0 )) < (),

u00 (r0 + z(r r0 ))

< (),
u0 (r0 + z(r r0 ))
(r r0 ), :
u00 (r0 + z(r r0 )) > ()u0 (r0 + z(r r0 )),
, r = r < r0 . ,
E u00 (r0 + z()(

r r0 )) > () E u0 (r0 + z()(
r r0 )).
, z 0 () > 0. , .

, ,
.
7.6.
7.6.1
267
/ 400. , ,
u000 6 0. , .
/ 401. ,
.
/ 402. ,
( ) (, ),
(, ).
/ 403. , , (r0 ) . ,
0 () > 0 ( ), (0 < (r0 ) < 1), d(r0 )/dr0 > 0, . .
.
: , ,
d(r0 )
E(u0 (
x)) (1 (r0 ))E(u00 (
x)(
r r0 ))
=
.
00
2
dr0
E(u (
x)(
r r0 ) )
, E(u00 (
x)(
r r0 )) 6 0 ( ,
0
() > 0).
/ 404. , ( ) (
r) . (
) . P P 0
( ), SS 0 (T T 0 ) , ()
. ST (S 0 T 0 )
.
()
r2
S0
P0
S
T0
T
r1
()
()
()
/ 405. , 1 () 2 () ,
x 1 (x) 6 2 (x), E2 () E1 (). (,
.)
/ 406. x
(t) , + t t c
, (t) x
(t)
7.6.
268
r2
S0
P0
S
P
T0
r1
r2
S0
P0
S
P
T0
r1
r2
S0
P0
T0
r1
u(), u0 (x) > 0 u00 (x) 6 0. ,

(0) = 0, 0 (0) = 0 00 (0) = u00 ()/u0 () = r().
/ 407. x
(t) , + t t
c , (t)
,

u() =
1
+ (t) u( + t) +
2

1
(t) u( t).
2

(A) , u() , (t) > 0

t > 0 (0) = 0.
(B) , 4 0 (0) = u00 ()/u0 () = r().
/ 408. + t, E = 0. ,
( t)
() Var()t2 /2,
() .
7.7. : CAPM
7.7
269
: CAPM12
, , u() :
u(x) = a0 + a1 x a2 x2 .
(
:
u() = 0 + 1 x + 2 x2 + . . .)
, a1 , a2 > 0. a2 > 0 ,
. a1 > 0 , x
. ,
x, x = a1 /(2a2 )
, (. .
)13 .
u(x)=a0 +a1 xa2 x2
a1 /(2a2 )
. 7.9. ???
x
U = E u(
x) = a0 + a1 E x
a2 E(
x2 ).
12
H. M. Markowitz: Portfolio Selection, The Journal of Finance 7 (1952): 7791;H. M. Markowitz: Portfolio
Selection: Efficient Diversification of Investments, New York: John Wiley & Sons, 1959;J. Tobin: Liquidity Preference
as Behaviour Towards Risk, Review of Economic Studies 25 (1958): 6586;J. Tobin: The Theory of Portfolio Selection,
in The Theory of Interest Rates, F. H. Hahn and F. P. R. Brechling (ed.), London: Macmillan, 1965: 351.
13
,
. ,
. ,
( ), ,
(. , , . ). . (P. A. Samuelson:
The Fundamental Approximation Theorem of Portfolio Analysis in terms of Means, Variances and Higher Moments,
Review of Economic Studies 37 (1970): 537542), , . . , rk , rk r0
, . , ,
.
( ),
, rk ()
. .
7.7. : CAPM
270
x
= Ex
( ) x2 = Var x
( ).
E(
x2 ) = (E x
)2 + Var x
=x
2 + x2 .

U = a0 + a1 x
a2 (
x2 + x2 ).
, : ( ) (
). -
,
, .
, , ,
rP :
rP = x
/.
rP , E rP , P2 , Var rP . x
=
rP , , .
,
x
= Ex
= E(
rP ) = E rP =
rP
x2 = Var x
= Var(
rP ) = 2 Var rP = 2 P2 .
:
U = a0 + a1
rP a2 2 (
rP2 + P2 )
, b0 = a0 , b1 = a1 , b2 = a2 2 ,
U = b0 + b1 rP b2 (
rP2 + P2 ),
, . :
U = rP (
rP2 + P2 ).
. .
:
rP =
k rk
kK
rP = | r,
= {k }k ( ), r ,
. , , .
7.7. : CAPM
271
r , rk = E rk ,
V .
rP = E rP = E( | r) = | E(r) = | r =
k rk ,
kK
( ),
P2 = Var(
rP ) = Var(| r) = E[(| r E(| r))2 ] =
= E[(| r | r)2 ] = E[(| (r r))2 ] = E[| (r r)(r r)| ] =
= | E[(r r)(r r)| ] = | V =
X X
k1 k2 ck1 k2 .
k1 K k2 K
V :
ck1 k2 = Cov(
rk1 , rk2 ) = E[(
rk1 rk1 )(
rk2 rk2 )].
k2 = ckk = Var rk .
[, rk , k2 ck1 k2 :
rk =
X
sS
s rks , k2 =
s (rks rk )2 , ck1 k2 =
sS
s (rk1 s rk1 )(rk2 s rk2 )).]
sS
:
X X
P2 =
k1 k2 k1 k2 k1 k2 ,
k1 K k2 K
k ( ) k - ,
k1 k2 k1 k2 ,
k 1 k 2 =
ck1 k2
.
k1 k2
:

U = | r (| r)2 + | V max .
k 6 1,
kK
k > 0, k K, k 6= 0.
k = 0 , .
, k .
,
, r ( -).
P (P , rP ).
7.7. : CAPM
272
( )
rP (
rP2 + P2 ) = const

1
(P , rP ) = 0, 2
.
, 1/2 .
, (
).
, (k = 0)
().
P2 = Var(0 r0 + 1 r1 ) = Var(1 r1 ) = 12 Var(

r1 ) = 12 12 .

P = 1 1 ,
. . ,
.
, ,
rP = 0 r0 + 1 r1 = (1 1 )r0 + 1 r1 = r0 + 1 (
r1 r0 ).
, (P , rP ),
(0, r0 ) (1 , r1 ).
, (. . 0 > 0).
, , (0, r0 )
(1 , r1 ). (1 , r1 ) (0 > 0).
.
rP
1/(2)
r0
(1 ,
r1 )
. 7.10.
,
.
( ). , (
1 > 0), , r1 > r0 . r1 6 r0
1 = 0 (
).
, .
,
.
7.7. : CAPM
273
, ,
:
k1 k2 = 1 (k1 , k2 6= 0)14 .

P2
XX
k1
k1 k2 k1 k2 =
k2
k1 k1
k1
k2 k2
2
X
= k k
k2
P =
k k .
1 1 l 1
.
|
..
V = ..
. = ,
1 l l l
= {k }k .
P2 = | V = | | = ( | )2 .)

rP =
k rk .
, (P , rP ) k
(k , rk ), :
(P , rP ) =
k (k , rk )
( , ).
, - (k , rk ), .
rP
. 7.11.

, .
14
,
.
7.7. : CAPM
274
, . , , . - () . ,
k ,
:
X
rR =
k rk ,
k6=0
2
R
=
X X
k1 k2 ck1 k2 .
k1 6=0 k2 6=0
, , 0 1 0 , ,
k = k (1 0 ), 0 .
:
X
rP =
k rk ,
kK
P2 =
X X
k1 k2 ck1 k2 .
k1 K k2 K
, :
rP = 0 r0 + (1 0 )
rR ,
P = (1 0 )R ,
rP = 0 r0 + (1 0 )
rR ,
, .
( .)
,
rP =
k rk = 0 r0 +
kK
k (1 0 )
rk =
k6=0
= 0 r0 + (1 0 )
k rk = 0 r0 + (1 0 )
rR .
kK

P2 =
X X
k1 k2 ck1 k2 =
k1 K k2 K
= 02 c00 +
k1 0 ck1 0 +
k1 6=0
0 k2 c0k2 +
k2 6=0
X X
k1 k2 ck1 k2 .
k1 6=0 k2 6=0
, c00 = ck1 0 = c0k2 = 0, k = k (1 0 )

P2 = (1 0 )2
X X
2
k1 k2 ck1 k2 = (1 0 )2 R
k1 6=0 k2 6=0
P = (1 0 )R .
, . ,
7.7. : CAPM
275
. , (0, r0 )
. , ,
. ,
, (. . 7.12).
rP
r0
P
. 7.12.
,
.

rk r0
max .
k=1,...,l
k
, .
.
(. . 7.13)
.
.
rP
r0
P
. 7.13.
, . . , . , , ,
, ,
. ,
.
.
(
1). , , 1 2,
7.7. : CAPM
276
12 = 1. ,
P2
12
1 2
= (1 , 2 )
1 2
22
1
2
= 12 12 21 2 1 2 + 22 22 = (1 1 2 2 )2 ,

P = k1 1 2 2 k.

rP = 1 r1 + 2 r2 .
, . (P = 0). ,
.
rP
(1 ,
r1 )
(2 ,
r2 )
P
. 7.14.

,
.
rP
(1 ,
r1 )
(2 ,
r2 )
P
. 7.15.

:
1 =
2
1
, 2 =
.
1 + 2
1 + 2
, r00 ,
r00 =
1 r2 + 2 r1
.
1 + 2
7.7. : CAPM
277
, ,
, .
, r00 > r0 r0 r0
r00 . . (
, .) , . .
, r00 6 r0 ( ).
, .
V = diag(12 , . . . , l2 ).
P2 = | V =
k2 k2 .
P =
sX
k2 k2 .
, ,
rP =
k rk .
, (. . 7.16).
rP = 1 r1 + 2 r2 = 1 r1 + (1 1 )
r2 .
P =
12 12 + 22 22 =
12 12 + (1 1 )2 22 .
rP
(1 ,
r1 )
(2 ,
r2 )
P
. 7.16.
, , .

( ). ,
:
: , (k > 0), , ?? , ( rk > r0 ).
.
7.7. : CAPM
rP
278
rP
(1 ,
r1 )
(2 ,
r2 )
(1 ,
r1 )
r0
(2 ,
r2 )
r0
P
. 7.17. .
. 7.17 , . . 7.17 (1-) .

, ,
, , . . 7.18
, .
, .
rP
12 =0
12 =1
(1 ,
r1 )
12 =1
12 =0,5
(2 ,
r2 )
12 =0,5
P
. 7.18.
R ,
, - , , (. . . 7.19)15 .
, R , . . . (M , rM ) R
min rk 6 rM 6 max rk .
R,
0 ,r
0 ) R
(M , rM ), (M
M
, . .
0
0
M
6 M rM
> rM ,
15
, 7 , .
7.7. : CAPM
279
rP
R
. 7.19.
. ,
,
(. . 7.19).
,
(0, r0 ) (. . 7.20). ,
(0, r0 ) (M , rM ) R.
rP
r0
. 7.20.
( ) R ,
. (. . 7.20), . .
rM r0
max .
M
(M ,
rM )R

U = rP (
rP2 + P2 ),
rP P2 , , (k ,
k = 1, . . . , l ) :
rP = r0 +
l
X
k (
rk r0 ),
k=1
P2 =
l
l
X
X
k1 =1 k2 =1
k1 k2 ck1 k2 .
7.7. : CAPM
280
,
l
X
rP
P2
= rk r0
=2
j cjk .
k
k
j=1
U . , (
).
U k :
!
U
rP
rP
2
=
2
rP
+ P
k
k
k
k
= rk r0 2
rP (
r k r0 ) + 2
l
X
j cjk =
j=1
= (1 2 rP )(
rk r0 ) 2
l
X
j cjk .
j=1
U/k 6 0, , (k >
0), , U/k = 0.

l
X
k=1
U
= 0,
k
. .
(1 2 rP )(
rP r0 ) 2P2 = 0,
, , P2 = 0,
1 2 rP =
2P2
,
rP r0
l
rk r0 X
U
= 2 P2
j cjk .
k
rP r0 j=1
:
l
X
j=1
j cjk =
l
X
j Cov(
rj , rk ) = Cov(
j=1
l
X
j rj , rk ) =
j=1
= Cov(
rP 0 r0 , rk ) = Cov(
rP , rk ).
cP k .
U
rk r0
= 2 P2
cP k .
k
rP r0

, U/k 6 0, , :
P2
rk r0
6 cP k ,
rP r0
7.7. : CAPM
281
k - (k > 0), . . . , , :
cP k
rk r0 = 2 (
rP r0 ).
P
= (1 , . . . , l ) . k k - .
, (1 , . . . , l ) ,
k = P
j6=0 j
, k 6= 0.
j6=0 j = 1 0 .
:
P
k = k (1 0 ), k 6= 0.
, , k . rM .
rP = 0 r0 + (1 0 )
rM .
,
rP = 0 r0 + (1 0 )
rM ,
2
P2 = (1 0 )2 M
,
cP k = Cov(
rP , rk ) = Cov((1 0 )
rM , rk ) =
= (1 0 ) Cov(
rM , rk ) = (1 0 )cM k .
, ,
,
rk r0 = k (
rM r0 ),
k =
Cov(
rM , rk )
cM k
= 2 .
Var(
rM )
M
CAPM 16 .
, , :
1) , r0 ( );
2) , rk r0 ( ).
k k - ,
.
.
, ,
rk r0 6 k (
rM r0 ).
, ?? ,
, , , .
, , ,
rk r0 6 k (
rM r0 ) = 0.
16
. ., W. F. Sharpe: Capital Asset Prices: A Theory of Market Equilibrium

under Conditions of Risk, Journal of Finance 19 (1964): 425442.
7.7. : CAPM
282
, , .
,
rk r0 = k (
rM r0 ) > 0
( , rM > r0 ). , ,
.
, .
1) R
.
2)
, (0, r0 ) R,
(
rM r0 )/M .
, (. . 7.21). R.
, (P , rP ),
rP = r0
P
(
rM r0 )
M
rM r0
rP r0
=
,
P
M
(M , rM ) .
rP
rP
R
r0
r0
rP
R
r0
. 7.21.
: (Separation Theorem):
( ) .
7.7. : CAPM
283
, :
(M , rM ),
.

. , , ,
. (
.)
(Mutual Fund Theo
rem). , ( ), .
, (M , rM ), , . , (M , rM )
, .
(,
), (1 , . . . , l ) (1 , . . . , l )
. ,
( ).
2 ,
, k = cM k /M
, . .
rk r0 = k (
rM r0 ).
, , rk r0 , k .
, rM r0 .
, , ( ). ,
k = rk r0 k (
rM r0 ) .

rk = (1 k )r0 + k rM + k ,
E k = rk r0 k (
rM r0 ) = 0 :
2
Cov(
k , rM ) = E(
k rM ) = E(
rk rM ) r0 rM k (E(
rM
) r0 rM ) =
2
2
2
= E(
rk rM ) rk rM k (E(
rM
) rM
) = cM k k M
= 0.
(. . 7.22.)
.
(. . , ) , r0 .
, , , (
, ).
, .
:
P =
Cov(
rP , rM )
cM P
= 2 .
Var(
rM )
M
7.7. : CAPM
284
rk
k
r0
rM
r0
. 7.22.
, :
P =
l
l
l
X
X
1
1 X
1
Cov(
r
,
r
)
=
Cov(
,
r
)
=
c
=
k k .
P M
k k M
k Mk
2
2
2
M
M
M
k=1
k=1
k=1
, , P = (1 0 )M
2
cM P = Cov(
rP , rM ) = (1 0 )M
.
,
P =
cM P
P
.
=
2
M
M
, .
, , ,
P
rP r0 = P (
rM r0 ) = r0 +
(
rM r0 ).
M
, .
7.7.1
/ 409. . ( , ): (
r0 , 0 ) = (1, 0) ( ), (
r1 , 1 ) = (1,2, 0,3), (
r2 , 2 ) = (1,15, 0,2), (
r1 , 1 ) =
(1,3, 0,4). ( 1).
?
.
/ 410. . ( , ): (r0 , 0 ) = (?; 0) ( ), (
r1 , 1 ) = (1,1, 0,2), (
r2 , 2 ) = (1,2, 0,2).
. r0
(
rR , R ) = (1,15, 0,2)? .
7.7. : CAPM
285
/ 411. . ( , ): (r0 , 0 ) = (1, 0) ( ), (

r1 , 1 ) = (0,9, 0,1), (
r2 , 2 ) = (1,1, 0,2).
( 1).
? .
/ 412.
r0
() r1 > r0 , r2 > r0 . -
() ,
(A) ;
(B) ;
(C) ?
/ 413. , 1 . .
: r0 = 1,1,
r1 = 1,2 r2 = 1,5 12 = 22 =
1. , , rP = 1,27
P2 = 0,17. rR =
1,44.
(1) , .
(2) .
(3) .
/ 414. 12 = 4, r1 = 2, 22 = 1, r2 = 11/2, k2 k -
, rk , r0 = 1.
, , 2 = 8/3, r
R
R = 12/3,
rP = 12/3. .
. .
/ 415. 1,6. : - (1 , r1 ) = (2, 1,2)
(2 , r2 ) = (1, 1,4), .
()
r0 = 1 r0 = 2?
(A) , .
(B) .
/ 416. 1,7. : - (1 , r1 ) = (1, 0,8)
(2 , r2 ) = (1, 1,4), 1.
r0 = 1 r0 = 2?
(A) , .
(B) .
/ 417. 1,8. : - (1 , r1 ) = (2, 1, 4)
7.8.
286
(2 , r2 ) = (1, 1, 3),
1.
r0 = 1 r0 = 2?
(A) , .
(B) .
/ 418. ( )?? () .
r1 r2 12
22 . , . . .
(1) ( 12 = 1),
(2) (12 = 0),
(3) (12 = 1).
/ 419. :
v
, . .
, (1, 2), (2, 3), (3, 4), .
?
/ 420. , (
r1 , 1 ), (
r2 , 2 ), , r1 < r2 , 2- . ,
, .
/ 421. , (
r1 , 1 ),
(
r2 , 2 ), , , r1 < r2 ,
1- , r0 < r1 . ,
,
.
7.8
/ 422. . , , ??: .
1/3
1,1
1,0
1/3
1,4
1,6
1/3
1,7
2,2
u(x) = 4x x2 .
()
.
7.8.
287
() .
() , 1,3.
() , , , , . ( )
.
, . ,
,
.
8.1
, , m (i I = {1, . . . , m})
l (k K = {1, . . . , l}). S = {1, . . . , s}
. ,
. , ,
, , .
, (k, s) ,
k K , s S .
pks , , i xiks . ,
xi = {xiks }ks Rls . ,
, , .
, , s S
i is Rl . , i = {iks }ks
i .
( ).
. Ui (xi ).
,
Ui (xi ) max
xi
X X
sS kK
pks xiks 6
X X
pks iks ,
(N)
sS kK
xis Xi s S.
( )1 .
s S
1
. . G. Debreu: Theory of Value: An Axiomatic Analysis of Economic Equilibrium, John Wiley & Sons,
1959 (Cowles Foundation Monograph No. 17), ch. 7, Uncertainty, . ,
4.
288
8.2.
289
. . . ,
:
X
xiks =
iI
iks , k K, s S.
iI
, ,
:
xis Xi , s S, i I.
.
60:
) ,
(p, x
i (N) p.
1) x
, . .
2) x
X
iI
x
iks =
iks , k K, s S.
iI
, , (k, s).
.
8.2
, -. -
,
.
, ( ) -
, ,
. . , ,
, , ( Ui (xi )). .
61:
= (
m ) () x
x1 , . . . , x
= (
m ),
-, x
x1 , . . . , x
Ui (
xi ) 6 Ui (
xi ), .
, .
62:
:
Ui (xi ) =
is ui (xis ),
sS
i .
8.3.
290
= (
m ) () x
x1 , . . . , x
= (
m ),
-, x
x1 , . . . , x
X
X
s ui (
xis ),
s ui (
xis ) >
sS
sS
.

.
() .
. , ,
() , .
95:
) ,
(p, x
- .
. x
- . x
, , )
2 . p, (p, x
i .
: : (k, s) k 0 .
l s , .

8.1.
8.1.
8.3
1
2
3
1
1
2
3
s
2
4
5
6
3
7
8
9
4
10
11
12
,
(
) - .
2
, ,
, , , .
8.3.
291
37:
, (), , : R (), S ( ).
1 = (1, 3), 2 = (3, 1) . . ., , , 1 3 , .
, R S R = 0,25 S = 0,75 , ui (x) = ln(x).
:
Ui = 0,25 ln(xiR ) + 0,75 ln(xiS ), i = 1, 2.
,
. () , .
-
U1 /x1R
0,25x1S
U2 /x2R
0,25x2S
=
=
=
,
U1 /x1S
0,75x1R
U2 /x2S
0,75x2R
x1S x2R = x1R x2S .

- :
x1R + x1S = 4,
x2R + x2S = 4.
(x1R , x1S ):
x1S (4 x1R ) = x1R (4 x1S )
x1S = x1R .
, .
. :
U1 /x1R
0,25x1S
pR
=
=
,
U1 /x1S
0,75x1R
pS
U2 /x2R
0,25x2S
pR
=
=
.
U2 /x2S
0,75x2R
pS
- , ,
95, . ,
x1S = x1R .
, ,

pR
0,25
1
=
= .
pS
0,75
3
, pR = 1, pS = 3.
, . 1-
pR x1R + pS x1S = pR + pS 3,
8.3.
292
. .
x1R + 3x1S = 1 + 3 3 = 10.
x1S = x1R , x
1S = x
1R = 2,5.
, x
2S = x
2R = 1,5.
x2R
x1S
x1R
x2S
. 8.1. 37
- ( , )
.
, . ,
, , ,
. .
63:
, ,
X
iI
iks =
ikt , k K, s, t S.
iI
96:
,

, Xi .

- x
(. . ):
x
iks = x
ikt , i I, k K, s, t S.
: - j , , x
jks 6= x
jkt . x ,
xiks =
t x
ikt
tS
, - x
.
- x
8.3.
293
, x .
X
iI
xiks =
XX
t x
kt =
iI tS
tS
x
ikt =
iI
X
tS
ikt =
iI
ikt .
iI
,
iI ikt
1.
, x -. , xi ,
Ui (xi ) =
s ui (xis ) = ui (xis )
sS
s = ui (xis )
sS
i xiks
Ui (xi ) = ui (xis ) = ui
it >
t x
tS
s ui (
xis ) = Ui (
xi ).
sS
j .
97:
, ) .
. (p, x
(i) :
x
iks = x
ikt , i I, k K, s, t .
(ii) , , 3 , ,
:
pks
s
=
, k K, s, t S.
pkt
t
is = x
it , s, t S )
: (i) ( x
96.
(ii) i, ,
pks
s u0ik (
xis )
=
, k K, s, t S,
0
t uik (
xit )
pkt
is = x
it , .
, x
, . , . ,
, , (
3
, , Xi ,
. ,
i , k -
, , , .
8.3.
294
), . .
. ,
. ,
. ,
R u0i (
xiR )
pR
, i = 1, 2.
=
0
S ui (
pS
xiS )
,
, :
u01 (
x1R )
u02 (R x
1R )
=
.
0
0
u1 (
u2 (S x
x1S )
1S )
R < S . , x
1R < x
1S . x
1R > x
1S ,
0
6 u1 (
x1S ), .
,
u02 (R x
1R ) 6 u02 (S x
1S ),
u01 (
x1R )
R x
1R > S x
1S . . , x
1R < x
1S .
, x
2R < x
2S .
,
- .
, x
iR < x
iS ,
R u0i (
xiR )
pR
R
<
=
.
0
S
S ui (
xiS )
pS
x1S
x2R
x1R
x2S
. 8.2. -
,
.
38:
:
U1 (x1 ) = R x1R + S x1S ,
U2 (x2 ) = R ln(x2R ) + S ln(x2S ).
, .
8.3.
295
:
R
R x2S
=
,
S
S x2R
x2S = x2R . .
,
2- .
. , 1-
2- -.
( ) ,
1- .
4
x1S
x2R
x1R
x2S
. 8.3. - ,
is i s S
. , .
, , 37.
39 (()):
:
U1 (x1 ) = 0,25 ln(x1R ) + 0,75 ln(x1S ),
U2 (x2 ) = 0,75 ln(x2R ) + 0,25 ln(x2S ).
; .
: i = (2, 2). ,
, , :
pR = pS . : x
1R = x
2S = 1; x
1S = x
2R = 3.
, ,
, . ,
, ( ),
.
:
0,25
1
0,75
< <
,
0,75
1
0,25
8.3.
. .
296
1R
pR
2R
<
<
.
1S
pS
2S

x1S =
9x1R
.
1 + 2x1R
, - ( ) -.
() . ,
() - ( ,
),
. ,
.
4
x2R
x1S
x1R
x2S
. 8.4. 39
8.3.1
/ 423. , A B , . u1 = exp(x1 )
u2 = exp(2x2 ) . (4, 7).
- , 10.
/ 424. , n .
ui (x) = x, i =
1, 2. 1s = s, 2s = n + 1 s.

(a) , . . s = 1/n;
(b) , . . s = s,
=
2
.
n(n + 1)
8.4.
297
, (a) (b). ,
n
X
s=1
s=
n
X
n(n + 1)
,
2
s2 =
s=1
n(n + 1)(2n + 1)
.
6
/ 425.
u1 (x) = x, u2 (x) = x.
1s = n, 2s = s. (a) (b).
/ 426. (A) , , ( ).
(B) ,
?
(C) , ,
?
8.4
, , . ,
. -
.
( ).
.
, . , , .
, . .
.
,
, , . ,
- s1
s2 . , - .
.
.
C = {1, . . . , c} 4 , ( ). c C
5 ac = {aksc }ks , aksc k - , , 2- s. ,
4
. K. J. Arrow: Le r
ole des valeurs boursierespour la repartition la meilleure des risques, in Econometrie
Colloques Internationaux, Paris: CNRS, 1953: 4148 (. . K. J. Arrow: The Role of Securities in the Optimal Allocation of Risk-bearing, Review of Economic Studies 31 (1964): 9196), R. Radner: Competitive
Equilibrium under Uncertainty, Econometrica 36 (1968): 3158.
5
( ).
:
P
rsc =
kK
pks aksc
qc
ps asc
.
qc
8.4.
298
, , . . aksc . qc , , i-
zic . zic . zic < 0 , |zic |
( ). ,
??list - ,
- 1- (
2- ),
- 6 ,
1-
X
qc zic 6 0.
cC
2- , s S ,
, 1- .
2- :
X
pks xiks 6
kK
X X
pks iks +
pks aksc zic .
cC kK
kK
:
X
pks xiks 6
kK
pks
iks ,
kK

iks , ,
,
iks = iks +
aksc zic .
cC
, ( )
, , , , ,
, Ui (xi ).
, ,
, q, p , ,
,
, :
Ui (xi ) max,
xi ,zi
qc zic 6 0,
(8.1)
cC
X
kK
pks xiks 6
X
kK
pks iks +
X X
pks aksc zic , s S, xi Xi .
cC kK
, rsc ,
1- 2- . ,
s 2- .
6
, .
8.4.
299
p . , 1- , pei 2- , . ,
, . . 2- ,
1- .
:
64:
, x
, z
) ,
(
p, {
pei }iI , q
i ) (8.1) p
ei q
.
1) (
xi , z
2) :
X
zic = 0, c C.
iI
ei = p
.
3) : p
, . .
4) x
X
x
iks =
iI
iks , k K, s S.
iI
, ,
, x
, z
) .
(
p, q
.
, ()
, ( ) ,
.
,
, ( ), - - . ,
, ,
, , ,
- .
:
(
, ).
, .
z = {zc }cC , , zi .
( ) qz. , qz 6 0
q, 1- . s- ,
z
X X
pks aksc zc = ps As z,
cC kK
As s.
( , ).
8.4.
300
65:
, q, p
{aksc } , z,
qz 6 0, s S
X X
pks aksc zc > 0,
cC kK
.
, ,
. .
98:

, x
, z
)
, (
p, q
, q

. p
.
: , ,
, .

,
, k - ,
s. c (k0 , s0 ), aksc = 1
k = k0 , s = s0 , aksc = 0 k s.
(k, s).
, , ,
.
1- :
X
qks ziks 6 0.
(k,s)C
1- :
X
ziks = 0, (k, s) C.
iI
2- :
X
pks xiks 6
kK
pks iks +
kK
pks ziks .
(k,s)C
8.2. C ( )
, l = 2, s = 3.
1
2
s
2
,
. , . .
C=
(k, s) k K, s S ,
8.4.
301
.
)
, (
p, x
, x
, z
).
(
p, q
pks = pks , qks = pks , x
iks = x
iks , ziks = x
iks iks .

, ,
iks = iks ziks = x
iks .
.
,
,
.
,
. , , , k1 , k2 , s ,
, ,
pk1 s /
qk1 s > pk2 s /
q k2 s .
k1 , s,
(k1 , s) (k2 , s),
.
, , ,
s q
s (), p
s q
s
s p
q
, s.
p
,
, , .
99:

, x
, z
)

, (
p, q

C = (k, s) k K, s S . s S
s = s q
s .
s > 0, p
: s S .
s 6= 0, |
s 6= 0 q
, p
qs |2 6= 0. :
s s q
s,
zt = 0, t 6= s zs = p
s =
sq
s
p
.
|
qs |2
z = q
s zs = 0. ,
q
s zs = 0. , p
s zs > 0 , p
s zs < 0
s. p
s zs > 0 zs .
p
s zs = 0 p
s zs = 0,
q
s |2 = (
s )zs = p
s zs s q
s zs = 0.
|
ps s q
ps s q
s = s q
s .
. . p
8.4.
302
sq
s 6 0, :
, s > 0. s 6 0, p
s,
zt = 0, t 6= s zs = p
z = q
s zs 6 0 p
s zs = |
q
ps |2 > 0. .

, ,
, ,
. , - . , ,
, ,
, .

, , .
100:

, x
, z
)

, (
p, q

) .
C = (k, s) k K, s S . (
q, x
, x
, z
)
: , (
q, q
. i- ,
, i-
i
. , 7 . . . x
. ,
q
.

, ,

. , . ,
, , ,
, 1- , ( 1 , numeraire):
C=
(1, s) s S .
. : q1s = qs , zi1s = zis .

, , qs p1s
qs = 0 s.
, 1- , . .
1- .
p1s > 0 s S . ,
qs 6 0 s. ,
s. q > 0.
7
( ), , , .
8.4.
303
,
1- , 2- , , , ,
, x
.
.
,
,

C = (1, s) s S .
101:
1-
) .
, (
p, x
, 1- ,
z
, (
, x
, z
) C = (1, s) s S .
q
p, q
: ( p1s > 0 s S ).
is x
is ,
, x
dis = p
s (
xis is ). dis
p
i , zis dis /
p1s . zis ,
i :
sx
is = p
s is + p1s zis ,
p
P
, sS dis = 0 ( i
). (1, s)
P
s, . . qs = p1s , sS dis = 0
i .
i ) (8.1) p
q
. ,
, (
xi , z
. ,
i ), i- .
xi , z
(8.1), (
i ) ,
(
xi , z
X
p1s zis 6 0,
sS
sx
is 6 p
s is + p1s zis .
p
,
X
sx
is 6
p
sS
s is ,
p
sS
i (N),
, x
i . .
, x
, s S :
X
iI
zis =
X dis
iI
p1s
Xp
s (
xis is )
iI
p1s
s X
p
(
xis is ) = 0.
p1s iI
=p
,
p
s s p
, .
s = s p
s , s .
, p
8.4.
304
102:

, x
, z
)
1-

, (
p, q

, (
)
C = (1, s) s S . p
p, x
.
: . , i ( ) 1- 2- :
X
qs zis = 0,
sS
sx
is = p
s is + p1s zis .
p
s ,
p
s =
p
qs
.
p
p1s s
sx
is = p
s is + qs zis .
p
1-
, , p
:
X
X
sx
is =
s is .
p
p
sS
sS
i (N). ,
, x
.
i (N),
, x
i ,
. x
X
sS
sx
i 6
p
s is .
p
sS
i , (
i ) , z
xi , z
(8.1) p q. ,
, zis , s (
, dis = p
xis is ), . . zis = dis /
p1s .
X
sS
qs zis =
X qs
sS
p1s
s (
p
xis is ) =
s (
p
xis is ) 6 0,
sS
. . 1- . 2-
zis . .

40:
, s = R, S , , k = A, B
, .
A.
R =
S = 1/2.
:
ui (xA , xB ) = ln(xA ) + ln(xB ), i = 1, 2.
.
8.4.
k=A
k=B
s=R
s=S
305
s=R
1
A B
2, 0
2, 2
s=S
2
A B
0, 2
0, 0
A B
2, 2
2, 2
.
i = 1, 2 :
Ui =
1

1
ln(xiAR ) + ln(xiBR ) + ln(xiAS ) + ln(xiBS ) max
xi ,zi
2
2
qR ziR + qS ziS 6 0,
pAR xiAR + pBR xiBR 6 pAR iAR + pBR iBR + pAR ziR ,
pAS xiAS + pBS xiBS 6 pAS iAS + pBS iBS + pAS ziS .
,
. , :
xiAR = xiAS ,
xiBR = xiBS .
,
:
pAR
A
0,5
pBR
=
=
=1=
.
pAS
B
0,5
pBS
,
x1AR = x1AS = x1BR = x1BS = 3/2.
x2AR = x2AS = x2BR = x2BS = 1/2.
pAR = pAS = pBR = pBS ( =1).
qR = pAR = 1, qS = pAS = 1. , ,
zis :
1 3
d1R = pR (xiR iR ) = + = 1.
2 2
z1R =
d1S = 1.
z1S =
d1R
1
= = 1.
pAR
1
d1S
1
=
= 1.
pAS
1
:
z2R = 1, z2S = 1.
4
8.4.
306
S
R
x
3/2
S
x
3/2
s=R
s=S
R
3/2
3/2
. 8.5. 40
, . ,
. , .
: as = {asc }c ,
s, A = {as }s ,
.
,
( ). , (
) ,
. ,
.
, . , , z,
qz 6 0, s S p1s as z > 0, . p1s > 0 ,
as z > 0. (
), 1-
.
q :
z : qz 6 0 Az >6= 0.
q, z , .
, , ,
:
z : Az >6= 0.
()
, ,
1- : , as z > 0 . , (,
8.4.
307
),
: qz > 0.
() ,
s . , 1- 1-
() , . (),
, 1- .
, , 1-
0, . . S = {0, 1, . . . , s},
.
!
W=
q
.
A
W ,
: c qc 0 asc .
q ,
z, Wz >6= 0, . . ,
0, 1, . . . , s, .
, q
, .
103:
(i) A , (),
q . > 0, q = A.
(ii) q = A, > 0.
q .
: (i) , () q z, Wz >6= 0.
:
n
o
T = Rs+1 = Wz, z Rc .
= Wz ,
s , 0, 1, . . . , s
z. q T ,
>6= 0,
+1
T (Rs+
\{0}) = .
+1
Rs+
\{0} ( )
+1
Rs+
X
sS
s = 1

T = .
T , , , T .
Rs+1 ,

6 b1 T
> b2 .
b1 b2 , b1 < b2 ,
8.4.
308
> 0.
s 6 0 s. es
,
s = e
s > b2 , . . b2 6 0, ,
, s. es ,
< 0 T. 0 T
, b1 < 0. ,
0. .
, W
= 0. ,
T ( T Wz,
.
z) ,
b1 , .
: s =

s /
0 , s S . ,
: > 0 q = A.
z
, > 0, q = A. ,

V =
v v = A, Rs+
q. ,
, .
z0 , qz0 < c vz0 > c, v V .
V , c , , . . c . vz0 = 0 V , .
as V , as z0 > 0 s, . . Az0 > 0.
z0 , Az0 = 0, z0
. z0 . z00 , Az00 >6= 0.
( qz00 > 0,
, , .) z0
z00 z = z0 +z00 , , qz 6 0 Az >6= 0. ,
, , > 0 .
, 6= 0, = 0 q = A = 0,
q.
(ii) q = A, > 0, z , Az >6= 0.
qz = Az > 0. , qz 6 0 Az >6= 0
.

()
A. , , A , , , as . , z00
, (, ).
, (
z00 , , , ). , , ,
().
q , , q = A.
, s , (1, s).
8.4.
309
A , s,
. s = qA
1 .
A,
. ,
, 1- ,
, (1, s)
.
A ,
, , :
o
n
(A) = w w = Az, z Rc .
z ( , ),
w , ws , ws (
1- ). (A) ,
z.
,
A, . , , (A) = (A0 ),
A
A0 .
q = A.
104:
1-
, (p, q, x, z) ,
1- , A ,
(). A0 , (A) =
(A0 ), z0 q0 , (p, q0 , x, z0 )
A0 .
: q , , . () , = {s }s , q = A.
q0 A0 .
z0 . Azi (A) (A) = (A0 ), Azi (A0 ).
, zi z0i , A0 z0i = Azi . zi ,
i = 1, . . . , m 1 z0i . , z0m ,
:
z0m
m1
X
z0i .
i=1
0, A0 z0m = Azm .
(p, q0 , x, z0 )
iI zi =
,
A0 . (xi , z0i ) i- p, q0 A0 ,
q0 z0i = A0 z0i = Azi = qzi 6 0.
pxi 6 p i p1s as zi = p i p1s a0s z0i .

i, z
0i )
, (xi , z0i ) . , ( x
0
i- p, q A0 ,
8.4.
310
. , ,
i , (
i )
, z
xi , z
i ,
p q A. x
xi , (xi , zi ) p q
A.

: , A
A0 .
, A0 ().
A , s (. .,
),
(A) = (I),
I

s s. I

, C = (1, s) s S ,
, 1- .
A A = I
.
105:
,
1- . , ,
1- ,
A , .
) . (i) (
p, x
q , (
, z
) .
z
p, q, x
, z
) . (ii) , (p, q, x
, (
) .
p
p, x
: 101, 102 104.

I,
A. ,
A I,
.

,
: ,
-. , ,
, .
. 2 (A B ), 2 (R S ) 2 - (1 2).
R 1, S 2, ( 1R = 2S > 0
1S = 2R = 0). , (
).
, . , ,
8.4.
311
- ( )
( ).
, .
, , .
,
( ). , ()
, , , . 8 ,
,
. -
.
8.4.1
/ 427. (i = 1, 2),
(Sun, Rain) () (Apples, Bananas) S 1- 1S = (0, 0), 2- 2S = (3, 6),
R 1- 1R = (5, 1), 2- 2R = (1, 2).
,
u1 = 1/x1a 1/x1b ,
u2 = x2a + 4x2b
, S 2/3,
R 2/3.
(1) , x1S = (2, 1), x1R = (2, 1), x2S = (1, 5), x2R = (4, 2),
pa = (1, 2), pb = (4, 8) .
(2) ?
/ 428. (i = 1, 2),
(Good, Bad) () (Apples, Cucumbers) G 1- 1G = (4, 4), 2- 2G = (2, 2), B 1B = (1, 1) 2B = (5, 5) . ,

ui = ln xia + ln xic .
, G 2/3, B
2/3.
(1) , x1 = (3, 3, 3, 3), x2 = (3, 3, 3, 3), pG = (2, 2),
pB = (1, 1), .
(2) ?
/ 429. (i = 1, 2),
(Sun, Rain) () (Apples, Bananas) S 1- 1S = (3, 3/2), 2- 2S = (3, 3/2),
R 1- 1R = (3, 3/2), 2- 2R = (3, 3/2).
,
8
(. sunspot equilibrium). .
D. Cass and K. Shell: Do Sunspots Matter?, Journal of Political Economy 91 (1983): 193227.
8.5.
312
ui = ln xia + ln xib
, S 1- 2/3, R 2/3.
S 2- 2/3, R 2/3.
(1) , x1S = (2, 1), x1R = (4, 2), x2S = (4, 2), x2R = (2, 1),
pa = (1, 1), pb = (2, 2) .
(2) ?
/ 430. (R S ), (A
B ) , .
(qaR , qaS , qbR , qbS ) = (1, 2, 3, 4), (2, 6) R (1, 3)
S . ? , .
, .
/ 431. (R S ), (A
B ) , , A.
(qaR , qaS ) = (1, 4). ? ,
. , .
/ 432. (R S ), (A
B ) , , A.
1 R 1 S , 0 R 1 S .
z = (1, 1)? ,
.
/ 433. (R S ), (A
B ) , , A.
1 R 1 S , 0 R 1
S . 4 1 .
R S . ?
/ 434. , ,
.
8.5
/ 435. , , ()
.
, ? , ( ) 2 .
/ 436. ( - )
. , ,
. , , . , , ui (), , , . . .
1) - ;
2) . .
8.5.
313
/ 437. ( ). ,
. , . 1 1- ,
2 2-. , ( ),
. ( ). ,
?
/ 438. $100 $1000, +30% 0,8 0,2.
, $100 $1000
+30% 0,8 0,2.
.
(1) , , ( , ) . . .
- . . .
- ( ). . .
- () .
(2) ,
= 0,5 = 0,5, , . , ,
ua (), ub ()? ,
50 50 , ua (), ub ()? -
?
(3) , ?
(4) , (2), :
$1 1 , $1 m
. . ?
, .
,
. , ,

.
, , , -,
.
( , ,
)
.
9.1
, , 1 , (,
). ,
2 . , (),
.
: -.
, .
? ,
, , , , , ,
. , ,
). ( , ),
, .
, ,
, , . ,
. ,
1
2
. lump-sum tax.
. poll tax.
314
9.2.
315
. . , , , ,
( ), . ,
, ,
.
9.2
tik k i.
, .
, tik ( ).
i-
:
ui (xi ) max
xi
(pk + tik )xik 6 i ,
(9.1)
kK
xi Xi .
, ,
, , , ,
3 .
, :
i = pi +
ij p
y j + Si ,
jJ

( ):
XX
X
Si .
tik xik =
iI kK
iI
, 4 , . ()5 , . ,
,
ui (xi ) max
xi
pk (1 + ik )xik 6 i ,
kK
xi Xi .
, ,
tik = pk ik ,
3
(
; ), ,
, .
4
. unit tax.
5
. ad valorem.
9.2.
316
, , .
,
()6 .
, ,
t = {tik }, .
66:
, y
) t S,
(p, x
i (9.1) p,
1) x
i = p i +
ij p
y j + Si ,
jJ
, t;
j p;
2) y
) , . .
3) (
x, y
X
(
xik ik ) =
iI
yjk k;
jJ
4)
XX
tik x
ik =
iI kK
Si .
iI
, .
, .
41:
, 2 2 .

ui (xi1 , xi2 ) = ln(xi1 ) + ln(xi2 ), i = 1, 2.
ik .
:
x
12
p1 (1 + 11 )
,
=
x
11
p2 (1 + 12 )
x
22
p1 (1 + 21 )
.
=
x
21
p2 (1 + 22 )
, -
x
22
12 + 22
x
12
=
=
.
x
11
x
21
11 + 21
, - ,
1 + 11
1 + 21
=
.
1 + 12
1 + 22
x
11 + x
21 = 11 + 21 x
12 + x
22 = 12 + 22 , ,
.
6
, tik 6= 0 pk = 0 ,
.
9.2.
317
, , 1- 1-
800%7 , , . . 11 = 8, 12 = 21 =
22 = 0. :
p1 = 1/3, p2 = 1, x
11 = 0,5, x
12 = 1,5, x
21 = 1,5, x
22 = 0,5
( , ). , -.
1,5
1
0,5
0,5
1,5
. 9.1.
. 9.1 - . , ( - ). , .
,
. - .
4
, .
i (9.1)
x
ui (
xi )
= i (pk + tik ), k,
xik
i , . () (
k k0 , pk0 + tik0 6= 0):
ui /xik
pk + tik
=
ui /xik0
pk0 + tik0
( ).
-, : ,
, . . ptik = pk + tik , .
.
, ,
pti , . . i1 i2
,
pti1 = pti2 .
7
, .
9.2.
318
, , tik k
pk ( i).
, ik k , . . ik = is , k, s K .
.
, , , , :
gj /yjk
pk
=
.
gj /yjk0
pk0
, pti p. ,
8 .
.
, .
106:
) - t (p, x
S,
3 , ui () ;
i int Xi i;
3 , x
3 :
ui (
xi ) 6= 0, i I.
t .
: ,

pti . , - . pti , . . .

41 , .
, p.
.
, , , , . :
1 + 11
1
= ,
1 + 12
1
. . 11 = 12 .
, ,
.
- ,
.
8
,
. ,
, .
9.2.
319
, - , , ,

, , , .
.
107:
) , t
(p, x
, . x
- .
,
: , p
(i > 0). (, : pti = i p
.)
p
i-
i
xi 6 i
pk xik = i p
kK
xi 6 i /i = (p i + Si )/i .
p

Si ,
p
i + Si .
(p i + Si )/i = p
, i-
, ) ,
. , (
p, x
, Si . , Si
,
i.
Si = (p i + Si )/i p
, , ,
i p i = i p
x
i p i .
Si = pti x
x
i p i )/i p
i = p
(
Si = (p i + i p
xi i ).
iI (xi
i ) ,
X
Si = 0
iI
-.
x
9.2.1
/ 439. .
(: .)
/ 440. 41 , ,
.
9.3. ()
9.3
320
()
. -, , ,
, . -, , ,
. ,
9 , , . .
, (. . ), .
(, .)
xik > ik , i k , xik < ik , .
:

X
(pk + tik )[xik ik ]+ + pk [xik ik ] 6 Si ,
kK
???:
[z]+ =
??[z] =
z,
0,
z,
0,
z > 0,
z 6 0,
z 6 0,
z > 0.
. .
. 9.2 . , . , (. 9.2).
p1 /(p2 + ti2 ), (p1 + ti1 )/p2 . ( ) (
1- 2-), ( 2-
1-), ( ).
,
. xi1 = i1 , xi2 = i2 . p1 /(p2 + ti2 ) (p1 + ti1 )/p2 . p1 /p2 Si < 0
(p1 + ti1 )/(p2 + ti2 ) Si > 0.
( )
, ,
. , ,
i1 ,
s k .
9
- , .
9.3. ()
xi2
xi2
i2
xi2
i2
Si =0
xi1
i2
Si >0
Si <0
i1
321
i1
xi1
i1
xi1
. 9.2. , ,

, , ( ). i2 , s.
i1 ( )
ui1 /xi1 s
ps + ti1 s
=
.
ui1 /xi1 k
pk
, i2 , ( ),
ui2 /xi2 s
ps
ps
6
6 ,
pk + ti2 s
ui2 /xi2 k
pk
ps
ui2 /xi2 s
= ,
ui2 /xi2 k
pk
k ,
ui2 /xi2 s
ps
,
=
ui2 /xi2 k
pk + ti2 k
k .
,
ui1 /xi1 s
ui2 /xi2 s
>
.
ui1 /xi1 k
ui2 /xi2 k
, .
.
42:
2 , u(x1 , x2 )
y1 = f (a), u() f () , u(x)/xk > 0 f 0 (a) > 0. ,
x2 a = y2 = x2 .
1- , 2-. , , , ,
. x1 > 0 0 6 x2 6 .
. ,
. t.
: (0 < x2 < )
: (x2 = )
(x2 = 0). x2 = 0 .
9.3. ()
322
, . :
u/x1
p1 + t
1
p1
=
= .
u/x2
p2
f0
p2
t 6= 0,
u/x1
1
6= 0 ,
u/x2
f
.
, , .
. 9.3. x
I B (p1 + t)/p2 . , x2 = , .
P p1 /p2 (
B 0 ). -.
x2
x
P
B
B0
x1
. 9.3.
, 10 .

p1 + t
u/x1
6
u/x2
p2
1
p1
> .
0
f
p2

u/x1
1
6 0.
u/x2
f
, , (. . 9.4
9.5).
, ( 2- ) ,
( 1- ) ( S
10
,
, . -,
, -, .
9.3. ()
323
x2
x
B0
I
B
P
x1
. 9.4.
x2
x
I
B0
B
P
x1
. 9.5.
). , 1- , , t,
s.
(p1 + t)x1 + (p2 s)(x2 ) 6 S + .
p2 /(p2 s) ( , s < p2 ),
p2
p2
(p1 + t)x1 + p2 (x2 ) 6
(S + )
p2 s
p2 s
(p1 + t0 )x1 + p2 (x2 ) 6 S 0 + 0 ,
t0 =
p2
p2 t + p 1 s
(p1 + t) p1 =
.
p2 s
p2 s
t, s , . ,
.
4
9.3.1
/ 441.
, m (m > 2) . .
? .
9.4. .
324
) ,
, , .
) ,
,
.
) , .
) , ,
.
/ 442. , 4 2
(20, 10). 12, ,
, 50% .
) ? (
.)
) u(x1 , x2 ) = x1 + x2 .
?
/ 443. , 4 2
(20, 10). .
, , 12
1.
) ? (
.)
) u(x1 , x2 ) = min{x1 , x2 }.
?
9.4
,
. , ,
11 . -
, -
, .
- ()
.
,
, ,
.
- , -,
,
.
11
, , .
- .
9.4. .
325
67:
, , .
, : ,
.
12 .

X
u(x, z) = v(x) + z =
vk (xk ) + z
kK

c(y) =
ck (yk ).
kK
, ,
:
xk = yk .
(unit taxes) , ( )13 ,
H
(pL
k ) (pk ),
L
pH
k = pk + tk .
, ( xk > 0)

0
pH
k = vk (xk ).

0
pL
k = ck (yk ).
,

vk0 (xk ) = c0k (xk ) + tk .
,
, ,
( )
W = v(x) c(y).
12
. F. P. Ramsey: A Contribution to the Theory of Taxation, Economic Journal 37 (1927): 4761. . , , , .
, (. . ,
).
13
, .
9.4. .
326
,
W,
DL = W
, -.
W
,
:
vk0 (
xk ) = c0k (
xk ).
, (
).
, ,
DLk = vk (
xk ) ck (
xk ) vk (xk ) ck (xk ) .
:
Z
DLk =
xk
xk
vk0 (s) c0k (s) ds.
, , vk0 () , c0k () ,
, ,
, (
. 9.6).
.
Dk
Sk
pH
k
tk
pL
k
. 9.6. k -
, tk , :
1) .
2) R.
(, ,
.)

W =
vk (xk )
kK
vk0 (xk )
ck (xk ) max
kK
= c0k (xk ) + tk , k,
X
kK
tk xk > R.
xk ,tk
9.4. .
327
L=
X
kK
vk (xk )
ck (xk ) +
kK
tk xk R +
kK
k [vk0 (xk ) c0k (xk ) tk ].
kK
:
L
= vk0 (xk ) c0k (xk ) + tk + k (vk00 (xk ) c00k (xk )) = 0,
xk
L
= xk k = 0.
tk
, , vk0 (xk ) c0k (xk ) = tk , k ,
tk + tk + xk (vk00 (xk ) c00k (xk )) = 0,
xk (vk00 (xk ) + c00k (xk )),

1+
, vk0 () , c0k () .
:
tk =
D
k (xk ) =
1 vk0 (xk )
(< 0),
vk00 (xk ) xk
Sk (xk ) =
1 c0k (xk )
.
c00k (xk ) xk
, ,
0
L
vk0 (xk ) pH
k ck (xk ) pk .
, ( )
tk =
1+
pH
pL
k
k
+
S
|D
|
k
k
L
L
pH
k = pk + tk , tk pk :
1
1
+ S
D
| | k
tk
= k
.
L
1
pk
1++ S
k
, R, , , . , , R = 0 .
> 0. ,
tk =
xk (vk00 (xk ) + c00k (xk )).

1+
> 0
P
, . . kK tk xk = R = 0. tk :
X 2
x (vk00 (xk ) + c00k (xk )) = 0.
1 + kK k
9.4. .
328

. . ,
R = 0 .
. ( ,
, . . , .)
R
tk xk (vk00 (xk ) + c00k (xk )),
, ,
dtk = dxk (vk00 (xk ) + c00k (xk )),
(dtk tk ) ,
dxk
.
xk
, (
) .
, ( R )
:
tk
1
1
+ S
L
D
pk
|k | k
, , ( )
:
tk
1
1
D + S.
L
pk
|k | k
, ( ). ,
.
. .
.
9.4.1
/ 444. (x y )
(1 2), ui = ln(xi ) + ln(yi ) i = (ix , iy ). .
, x x0 y y0 . ,
.
() ?
() , - (- , x0 y0 x y )?
/ 445. (A B). : u1 = 2 ln a1 + b1 u2 = ln a2 + b2 , ai A,
9.4. .
329
bi B i- . : 1 = (2, 3), 2 = (3, 2).

A, i-
ai (1 i ) A, i . .
a1 1 + a2 2 A.
() , (ai , bi
pA /pB ).
() -, , (a0 ) A
. -?
/ 446. 2
u1 = x1 + z1 , u2 = x2 + z2
c(y) = 2y .
(A) 1- . (p, x1 , x2 , y) .
(B) (A),
= 1 (. . 100%).
/ 447. , y ,
:
u(y, x) = 2 y + 1 + x, x . , L
x. , y y = ln(2L) + 3. 50%-
( ,
). 1.
/ 448. . D = 10 p, S = 1 + p.
D = 10 p/2, S = 1 + p/2.
() (
)
() .
/ 449.
R n .
ti (i = 1, . . . , n). : Si = ai + bi p Di =
ci di p. , ,
.
?
(:
.)
/ 450. ,
. . .
) ,
) ,
) ,
) .
()
...............
/ 451. .
|| = 3,
$6 .
9.5.
330
, ? || =
3?
/ 452. . D = 8 p,
S = 3 + p.
50% . .
/ 453. . D = 8 p,
. 2 .
. ,
4 .
9.5
,
, ui (xi ). ,
(l -) , xil , i
xil , i .
xik > 0, k xil 6 i .
, .
(, ),
ti , . t = {ti } p(t).
, ,
ti p(t) . t
p , 14 .
,
i ( , Si )
X
(pk + tik )[xik ik ]+ + pk [xik ik ] 6 Si ,
kK
, (l - ). , l -, , . , , .

l1
X
k=1
(pk + tik )xik + pl xil =
l
X
(pk + tik )xik 6 pl i + Si .
k=1
. . , , ,
(til = 0). , , , .
14
1951 .
( P. A. Samuelson: Theory of Optimal Taxation, Journal of Public Economics 30
(1986): 137143). . , , , , .
P. A. Diamond and
J. A. Mirrlees: Optimal Taxation and Public Production. I: Production Efficiency, and II: Tax Rules, American
Economic Review 61 (1971): 827, 261278.
9.5.
331
, , ,
, .
,
i (ti )), Ri (
(xi = x
). ,
. - (
).
, :
u(
x(t)) max
(D)
t
x(t) > R,
(t) p t:
x
u(x) max
x
(p + t)x 6 = pl + S.
(t) x
(t) =
x
x(p + t, ).

u(
x(t))
= (pk + tk )
xk
, ,
u(
x(t)) = (p + t),
.
(t)
, . . x
(p + t)
x(t) =
l
X
(ps + ts )
xs (t) = .
s=1
(t) tk ( , x
),
l
X
x
s (t)
(ps + ts )
= xk (t).
tk
s=1
, ,
k - :
l
X
s
u x
s=1
xk tk
= x
k .
, (D), ,
, . (D)
L = u(
x(t)) + (t
x(t) R).
:
l
X
s
u x
l
X
L
x
s
=
+
ts
+x
k = 0.
tk
x
t
t
k
k
k
s=1
s=1
9.5.
332
,
:
l
X
u x
s
s=1
xk tk
l
X
ps
s=1
x
s
.
tk
x(t)u =
x(t)p,

x(t) { x
s /tk }. ,

u = p.
u = (p + t),
p = (p + t)
t=
p.
, . .
tl = 0. , ( ) , .
. 9.7.
x2
0
x
x
00
I
B0
/(p1 +t1 )
I0
B
/p1
x1
. 9.7.
1 (B B 0 ) ( x
x
0 ). B , (B ) , ( ). ,
x
00 , x
0 ,
. - .
9.5.
333
tl = 0 (D) .
l
X
u x
s
s=1
+ (
xk tk
l
X
ts
s=1
x
s
+x
k ) = 0,
tk
, l -.
,
x
k + (
l
X
ts
s=1
l
X
x
s
s=1
tk
x
s
+x
k ) = 0 k 6= l
tk
ts =
x
k k 6= l.
, , . . > 0,
x
k > 0 ( ). ,
l1
X
x
s
tk
s=1
ts =
x
k .
(t)
x
. ,
l1
X
xs
ts =
x
k .
pk
s=1
,
xk
xs
=
k, s,
pk
ps

l1
X
xs ts
pk xk
s=1
l1
X
xk ps ts
s=1
ps xk pk
, , ks ,
l1
X
s=1
ks
ts
=
.
pk
,
.
:
tk
1
=
,
pk
|k |
. . () .
, , .
,
xs
hs
xs
=
xk
k, s,
pk
pk
9.5.
334
hk () k . xs /pk
,
l1
X
hs
pk
s=1
ts =
l1
X
xs
s=1
xk =
xk ,
ts
l1
X
xs
s=1
ts +
k . ,
l1
X
hs
pk
s=1
ts =
l1
X
s=1
l1
X
s=1
l1
X
Ssk ts =
Sks ts =
s=1
hks
x
k
ts
=
,
ps
Sks = hs /pk (Ssk = Sks ),

hks =
hk ps
ps xk
k - s- .
hk (p + t, u), ,

dhk =
l1
X
hk
s=1
ps
dts
, (dtk tk ),
:
l1
X
hk
dhk =
dts
xk
ps
s=1
dhk
.
xk
. .
.
, , dhk = dxk
dxk
.
xk
,
.
, 3 (l = 3), ()
.
h11 1 + h12 2 =
,
h21 1 + h22 2 =
,
9.5.
335
k = tk /pk .
h11
1
1
+ h12 = h21 + h22
2
2
1
h h22
= 12
.
2
h21 h11
,
S11 p1 + S12 p2 + S13 p3 = 0,
S21 p1 + S22 p2 + S23 p3 = 0,
h11
h12
h13
,
=
+
h22 = h21 + h23 .

1
h + h21 + h12
t1 /p1
=
= h23
.
t2 /p2
2
13 + h21 + h12
, 3- .
, : 2-
3-, 1-, h23 < h13 ,
: t1 /p1 > t2 /p2 .
9.5.1
/ 454. . , .
p1 = 2, p2 = 1. (
), , t1 = 1.
?
/ 455. . , . ( ), ,
t1 = 1 t2 = 2. p1 /p2 ?
/ 456. . , .
p1 = 2, p2 = 1. - (
) 2 . ?
/ 457. . , .
p1 = 2, p2 = 1. ( )
, T .
t1 /t2 ?
/ 458. ,
, .
/ 459. ,
.
/ 460. u = ln x1 +
ln x2 + ln x3 , xk k .
9.5.
336
(1) , . ,
.
(2) , , .
10
() . , . ,
( ).
, .
,
, (
).
10.1
. ,
, ,
.
() , , ui / Xi
:
ui = ui (x, y) = ui (xi , xi , y) Xi = Xi (xi , y)
( ). , , x , y . , Yj : Yj = Yj (yj , x);

gj = gj (y, x) = g(yj , yj , x).
68:
i 6= i ui (x, y) xi k
( xi k ), ,
i k i- .
xi k . i
k j - , gj (x, y)
xi k ; j k i-
, ui (x, y) yj k ; j k j 6= j , gj (x, y)
yj k .
i Ei ,
. , j Ej ,
337
10.2.
338

.
Ei Ej ,
.
( ).
, , , , . ,
( ) .
,
.
.
: ,
, ; .
, .
( , ).
10.2
, , (
, .), ,
- (. ). ,
. (, ) , , ;
.
1 .
43 (( 2 )):
m i {1, . . . , m} yi >0.
, ,
. , ,
P
Y = m
i=1 yi , . . = (Y ).
yi , yi (Y ) .
f (Y ) = Y (Y ), . , f (0) = 0, f 0 () . f 0 ()
( ). p,
c, i- yi -
, :
.
10.2.
339

i (yi , yi ) = pyi (yi +
yj ) cyi =
j6=i
=p
yi
yi +
j6=i yj
f (yi +
yj ) cyi .
j6=i

, . . yi , :
i ).
yi argmax i (yi , y
yi
, Y ,

Y = argmax{pf (Y ) cY }.
Y
, m > 1, {
yi } Y 3 .
Y =
m
X
yi > Y,
i=1
. . 4 .
, ( yi > 0 i)

!
Y yi
yi 0
p
f (Y ) + f (Y ) = c,
Y 2
Y
,

m1
f (Y ) + f 0 (Y ) = mc.
Y

,
Y ( Y > 0)
pf 0 (Y ) = c.
,
f (Y )
m(f (Y ) f (Y )) = (m 1)
f 0 (Y )
> 05 .
f 0 () , Y > Y .
, f (Y ) = Y c = 1, , ,
1
Y = p2 1
2m

2
.
, , , .
4
congestion , .
5
, ,
.
10.2.
340

p2
Y = .
4

2
1
> 41 m > 1, Y > Y .
1 2m
, , . ,
yi > 0
!
yi
i
f (Y )
0
=p
f (Y )
< 0 i 6= j,
yj
Y
Y
, ,
i
= 0,
yi
,
m
X
=
j < 0.
yi
yi j=1
m
X
j
j=1
, ,
.
, , .
, . , -.
, :
(dy1 , . . . , dym ).

di =
m
X
i
j=1
yj
dyj .
i 6= j , i /yj < 0. i /yi = 0. ,

dyi 6 0 i, , di > 0 i. 4

,
(, , . . . ) .
, . ,
,
, , .
, , .
. ,
, . , (, ),
, , .
10.3.
10.2.1
341
/ 461. . , i- (yi )
(xi ) (z ) yi = xi z .
: z = 6 x1 x2 .
. .
/ 462. , . (yi ) ,
(xi ), xi /(1 + x1 + x2 ) (1000 ). 15 ,
(3 + xi ) .
? , .
/ 463. ( ) y ()
yi > 0, i = 1, . . . , n. . ui (ri , yi )
ri = y /n, yi . , (i : yi > 0), -.
-.
/ 464. [MWG] m . i- hi . h2i /2.
, (hi /h),
h , ,
() . ( ). .
.
/ 465. n . t = 1 . t- yt . i-
P
xit /( ni=1 xit + 1) yt , xit
t. p.

i =
it t1 , 0 < < 1.
t=1
.
(1) xi = xit . ,
.
(2) xi
?
(3) , ,
n . ?
10.3
-. , - : ) - ,
(
x, y
10.3.
342
m (i0 = 1, . . . , m):
ui0 (x, y) max
(x,y)
) i I, i 6= i0 ,
ui (x, y)>
ui = ui (
x, y
xi Xi i I,
gj (y, x)>0 j J,
X
(xik ik ) =
iI
yjk k K.
jJ
- . i0 :
L=
X
iI
i ui (x, y) +
j gj (y, x) +
jJ
k (
kK
yjk
jJ
(xik ik ))
iI
:
X us (
) X gj (
)
L
x, y
y, x
s
j
=
+
k = 0 i, k,
xik
xik
xik
sI
jJ
(10.1)
X ui (
) X gs (
)
L
x, y
y, x
=
i
+
s
+ k = 0 j, k.
yjk
y
y
jk
jk
iI
sJ
(10.2)
, k0 , :
- k0 , . .
k0
/ Ei i I k0
/ Ej j J,
-
ui
> 0 i I
xik0
(O)
gj
< 0 j J.
yjk0
6 .
, , , , , i0 = 1
( i0 = 1, . . . , m).

.
k0
i =
k0
i I,
)/xik0
ui (
x, y
j =
k0
j J.
)/yjk0
gj (
y, x
, i0 L/xi0 k0 = 0
)
ui0 (
x, y
= k0 .
xi0 k0
6
,
.
10.3.
343
, k0 > 0. ( , i j .)
, - :
X us /xik
X gj /xik
ui /xik
k
+
=
,
ui /xik0 s6=i us /xsk0 jJ gj /yjk0
k0
(10.3)
X ui /yjk
X gs /yjk
gj /yjk
k
+
=
.
gj /yjk0 iI ui /xik0 s6=j gs /ysk0
k0
(10.4)
(10.3) , , i1 i2 , k
X ui /xi k
1
iI
ui /xik0
X gj /xi k
1
jJ
gj /yjk0
X ui /xi k
2
iI
ui /xik0
X gj /xi k
2
jJ
gj /yjk0
(10.5)
, .
-

, y
)
(
p, x
( , ). ,
, k0 , (O).
, , , (,
). , .
, i- xi .
:
ui (xi , xi , y) max
xi
pxi 6 i ,
xi Xi .
j - , yj , . .
:
pyj max
yj
gj (yj , yj , x) > 0.
, k0 . :
)/xik
ui (
x, y
pk
=
, i I,
)/xik0
ui (
x, y
pk0
)/yjk
gj (
x, y
pk
=
, j J,
)/yjk0
gj (
x, y
pk0
k .
10.3.
344
, , i1 i2 ,
ui2 /xi2 k
ui1 /xi1 k
=
.
ui1 /xi1 k0
ui2 /xi2 k0
(10.6)
, ,
(10.6)
(10.5). . ,
. ,
. , ,
, .
, ,
, - . , ,
,
. -, , .
(, ).
108:
(x, y) , xi
int Xi i, . ,
,
k0 , (O);
, j k
(yj k ), ,
ui (x, y)
> 0, i,
yj k
gj (x, y)
> 0, j 6= j ,
yj k
;
i0 k (xi0 k )
, . . k
/ Ei0 .
:
1) p , (p, x, y)
.
2) (x, y) - .
: -.
k = k j = j (10.4). , , yj k , , , , , k0 ,
ui /xik0 gj /yjk0 , (10.4) . ,
gj (y, x)/yj k
k
<
.
gj (y, x)/yj k0
k0
10.3.
345
, k = k i = i0 (10.3) ,
, . .
ui0 (x, y)/xi0 k
k
=
ui0 (x, y)/xi0 k0
k0

gj (y, x)/yj k
ui0 (x, y)/xi0 k
.
<
gj (y, x)/yj k0
ui0 (x, y)/xi0 k0
, ,
:
gj (y, x)/yj k
ui0 (x, y)/xi0 k
.
=
gj (y, x)/yj k0
ui0 (x, y)/xi0 k0
, (x, y)
-.

: , ,
, , . ,
/ , , / , .
. .
: , .
:
1) -.
2) - ( ).
, y
) 108 (
p, x
),
, - , (
x, y
). - (
) (
x, y
x, y
, yj k ,
.
yj k , - ,
, .
, . , .
./??[]/
44 (// ( ; )):
3 , 1 () 2 . j = 1, 2 j - ,
. y1 y2 ,
a1 a2 7 . ,
:
y1 6 f1 (a1 , y2 ),
7
y2 6 f2 (a2 , y1 ).
,
, . . : yj = yjj ( j = 1, 2 ), aj = yj3 .
10.3.
346
,
.
u(x1 , x2 , x3 ), , x1 > 0 x2 > 0,
x3 > 0. 3- ().
. , , :
f2
f1
u
u
u
> 0,
> 0,
> 0,
> 0,
> 0.
a2
a1
x1
x2
x3
:
y1 = x1 ,
y2 = x2 ,
a1 + a2 + x3 = .
- 8 ,
(
x1 , x
2 , x
3 , y1 , y2 , a
1 , a
2 ),
9 :
u(y1 , y2 , a1 a2 )
y1 6 f1 (a1 , y2 ),
y1 > 0,
max
y1 ,y2 ,a1 ,a2
y2 6 f2 (a2 , y1 ),
y2 > 0,
a1 + a2 6 .
, -, , a . :
L(y1 , y2 , a1 , a2 , 1 , 2 ) =
= u(y1 , y2 , a1 a2 ) + 1 (f1 (a1 , y2 ) y1 ) + 2 (f2 (a2 , y1 ) y2 )
, . - :
u
f2
1 + 2
= 0,
x1
y1
f1
u
+ 1
= 0,
x3
a1
u
f1
+ 1
2 = 0,
x2
y2
u
f2
+ 2
= 0.
x3
a2
1 =
u/x3
,
f1 /a1
2 =
u/x3
f2 /a2
-:
u
u/x3
u/x3 f2
+
= 0,
x1 f1 /a1 f2 /a2 y1
u
u/x3 f1
u/x3
+
= 0.
x2 f1 /a1 y2 f2 /a2
8
, - . .
9
-
.
10.3.
347
, u/x3 ,
u/x1
1
f2 /y1
=
,
u/x3
f1 /a1 f2 /a2
1
f1 /y2
u/x2
=
.
u/x3
f2 /a2 f1 /a1
,
( ).
(p1 , p2 , p3 , x
1 , x
2 , x
3 , y1 , y2 , a
1 , a
2 )
. yj a
j ( j - ):
j = pj fj (aj , yj ) p3 aj max .
aj

1
p1
=
f1 /a1
p3
1
p2
= ,
f2 /a2
p3
.
,
L = u(x1 , x2 , x3 ) + ( (p1 x1 + p2 x2 + p3 x3 )).
x1 , x2 x3 , (
x1 , x
2 , x
3 )
:
u/x1
p1
=
u/x3
p3
u/x2
p2
= .
u/x3
p3

u/x1
1
=
,
u/x3
f1 /a1
u/x2
1
=
.
u/x3
f2 /a2
f1 /y2 f2 /y1 , , , , , , -, , , - .
f /y
fjj /aj
, -j
, ( ),
. ,
.
:
fj /yj = 0
, - .
,
, -.
. ()
10.3.
348
,
.
,
- .
(dx1 , dx2 , dx3 , dy1 , dy2 , da1 , da2 ).
, .
, . :
dy1 = dx1 , dy2 = dx2 , da1 + da2 + dx3 = 0,
f1
f1
f2
f2
dy1 =
da1 +
dy2 , dy2 =
da2 +
dy1 .
a1
y2
a2
y1

dx3 = da1 da2 =
1
=
f1 /a1
f1
1
dy1
dy2
y2
f2 /a2
f2
dy2
dy1 ,
y1

du =
u
u
u
(
x)dx1 +
(
x)dx2 +
(
x)dx3 .
x1
x2
x3
dxk , dyj :
du =
u
u
(
x)dy1 +
(
x)dy2
x1
x2
u
1
(
x)
x3
f1 /a1
f1
1
dy2 +
dy1
y2
f2 /a2
1
f2 /y1
u u/x1
=
+
x3
u/x3 f1 /a1 f2 /a2
+
f2
dy1 =
dy2
y1
!
dy1 +
u/x2
1
f1 /y2
+
u/x3 f2 /a2 f1 /a1
dy2 .
, ,
u
du =
x3
f2 /y1
f1 /y2
dy1 +
dy2 .
f2 /a2
f1 /a1
f1 /y2 f2 /y1 , dy1 dy2 , (du > 0).

, -. , , , f1 /y2 = 0 ( ),
f2 /y1 > 0 ( ), dy1 > 0, . .
- ,
10.3.
349
. .
: - , . . y1 < y1 ?
.
, , , 108.
x
3 = 0.
u/x1
f2 /a2
=
.
u/x2
f1 /a1

u/x1
=
u/x2
1
f1 /a1
1
f2 /a2
f2 /y1
f2 /a2
f1 /y2
f1 /a1
,
f1
a1
!2
f2
=
y1
f2
a2
!2
f1
.
y2
, -, -.
4
,
108.
,
, , , .

.
: , , . .
10.3.1
/ 466. , . . . . . . . . . . . .
/ 467. . ,
.
-.
/ 468.
- -,
- ,
- - .
10.4.
350
(A) [] 2 , 2 1
(. . , ). ,
u(x11 , x12 , x12 ) u(x21 , x22 , x11 ). .
(B) , i = 1, . . . , m

ui xi ,
m
X
xs , yi .
s=1
, x y ,
.
(C) , n : gj (yj1 , yj2 ) > 0.
1- :

ui x1 , x2 ,
n
X
yi1 .
j=1
10.4
69:
- - xik = x
ik yjk = yjk .
Qi k , xik
i- . Qj k , yjk j -
.
i :
xi
pxi 6 i ,
(10.7)
xik = x
ik k Qi ,
xi Xi .
j :
pyj max
yj
yjk = yjk k Qj ,
(10.8)
g(yj , yj , x) > 0.
={x
=
x
ik k Qi } y
yjk k Qj
70:
P
, y
) (
, {Qj }j ) S ( iI Si =
(
p, x
x, {Qi }i , y
0),
i (10.7) xi = x
i , y = y
, p
,
F x
i +
i = p
X
jJ
y
j + Si
ij p
10.4.
351
Qi ;
, x
j (10.8) x = x
, yj = y
j , p
,
F y
Qj ;
y
) , . .
F (
x, y
X
iI
(
xik ik ) =
yjk k K.
jJ
, . .
, - .
109:
) - Xi = Rl+ .
(
x, y
,
x
ik > 0 i, k
/ Ei ;
ui (x, y) xik , k
/ Ei ; gj (y, x) yjk , k
/ Ej ;
k0 , (O);
ui (x, y) xik , k
/ Ei ; gj (y, x)
yjk , k
/ Ej .
, y
, p, Qi Qj , x
, y
) . S, (p, x
, Qi = Ei Qj = Ej .
: .
, , ).
- (
x, y
k . Qi Qj
, Ei Ej . , . . x
ik = x
ik k Qi yjk = yjk k Qj .
i (10.7)
, x
i
i = p
xi . , x
,
:
)
ui (
x, y
i
= k i k
/ Ei .
xik
.
j (10.8).
, y
, y
, x
, y
, S)
S, (p, x
. , , . . i = p
xi .
X
Si = p
xi p i +
ij p
yj .
jJ
, .
: Qi (Qj ) , ui (x, y)
(, gj (y, x)) , .
- .
: (2)???. (3)???
,
.
10.5.
10.5
352
,
. Pi k , i- . Pj k ,
j - .
tik k i. i-
:
xi
pk xik +
kP
/ i
(pk + tik )xik 6 i ,
(10.9)
kPi
xi Xi .
i
x
i , y
)
ui (
xi , x
= i pk , k
/ Pi ,
xik
i , y
)
ui (
xi , x
= i (pk + tik ), k Pi ,
xik
(10.10)
(10.11)
i , .
tjk k j ,
j :
X
kP
/ j
pk yjk +
(pk tjk )yjk max

yj
kPj
g(yj , yj , x) > 0.
(10.12)
(10.13)
j
y
j , x
)
g(
yj , y
+ pk = 0, k
/ Pj ,
yjk
j , x
)
g(
yj , y
j
+ pk tjk = 0, k Pj ,
yjk
j
(10.14)
(10.15)
j , .
n
o , , tI = { tik k Pi }
tJ = tjk k Pj , .
71:
, y
) (tI , {Pi }i , tJ , {Pj }j ) S (
p, x
,
i (10.9) p
,
3 x
i +
i = p
y
j + Si ,
ij p
jJ
, tI , Pi ,
i , y
.
x
j (10.12) p
, , tj , Pj
3 y
j , x
.
y
10.5.
353
) , . .
3 (
x, y
X
(
xik ik ) =
iI
3
X X
yjk k.
jJ
tik x
ik +
iI kPi
X X
tjk yjk =
jJ kPj
Si .
iI
. , ( ) -
, - .
110:
) - Xi = Rl+ .
(
x, y
,
x
ik > 0 i k
/ Ei ;
ui (x, y) gj (y, x) ;
k0 , (O);
ui (x, y) xi ; gj (y, x) yj .
p, Pi Pj , tI , tJ ,
, y
) .
S, (p, x
, Pi = Ei Pj = Ej .
: . k - pk
k . Pi
Pj , Ei
Ej . tik , k Pi
tik =
X
s6=i
) X gj (
)
us (
x, y
y, x
j
,
xik
xik
jJ
s j ,
. , Ps , .
i (10.9)
, x
i = p
xi +
tik x
ik ,
kPi
i , y = y
, . , x
i
xi = x
. ,
,
. -
:
)
ui (
x, y
= pk + tik , k Pi ,
i
xik
i
)
ui (
x, y
= pk , k
/ Pi .
xik
i ,
1
i
10.5.
354
tjk , k Pj
tjk =
iI
) X gs (
)
ui (
x, y
y, x
s
,
yjk
yjk
s6=j
, Ps , . ,
j (10.8) x = x
yj = y
j .
y
S. ,

Si = p
xi +
tik x
ik (p i +
ij (p
yj
jJ
kPi
tjk yjk )).
kPj
, ,
X X
tik x
ik +
iI kPi
X X
tjk yjk ,
jJ kPj

i = p
xi +
tik x
ik ,
kPi
i .
, x
: . , ,
()
. , ()
.
: . (O) .
, . ,
),
. , (
x, y
:
X us (
X gj (
)/xik
)/xik
tik
x, y
y, x
=
+
, i, k Pi ,
)/xsk0 jJ gj (
)/yjk0
pk0
us (
x, y
y, x
s6=i
X ui (
X gs (
)/yjk
)/yjk
tjk
x, y
y, x
=
+
, j, k Pj .
)/xik0 s6=j gs (
)/ysk0
pk0
ui (
x, y
y, x
iI
(T )
-
, 10 .
111:
, y
) (tI , {Pi }i , tJ , {Pj }j ) , (
p, x
S , ,
i int Xi ( )
x
, , , . . Ei Pi Ej Pj .
10
A. C. Pigou: The Economics of Welfare, London: Macmillan, 1932 (. . . . :

, .: , 1985).
10.5.
355
;
k0 , (O).
,
(i) , -, ,
(T );
(ii) -, k
i ( j ), ( ) , . . k
/ Pi (k
/ Pj ),
(T ).
: (i) , {i }i , {j }j , {k }k , i > 0, j > 0,
(10.1)-(10.2) (
- ).
, -
.
(10.10)-(10.11)
(10.14)-(10.15). :
i = 1/i ,
j = j ,
k = pk .
, , . . k
/ Pi k
/ Pj ,
, -
:
ui
gj
i
= k , i, j
+ k = 0, j.
xik
yjk
, (10.10) (10.14).
, (10.10) (10.14) k = k0
i =
pk0
1
=
> 0,
i
ui /xik0
pk0
> 0,
gj /yjk0
, :
j = j =
tik =
X
us
gj
j
.
xik jJ xik
X
ui
gs
s
.
yjk s6=j yjk
s6=i
tjk =
X
iI
(10.11) (10.15),
, - (10.1)-(10.2) .
(ii) k 6= k0 , ()
. , , i.
( , , , .)
i ,
ui /xik
pk
=
.
ui /xik0
pk0
10.5.
356
, k k0
- ,
ui /xik
k
=
.
ui /xik0
k0
, pk /
pk0 = k /k0 , . . .
i k ,
(k Pi ),
ui /xik
pk + tik
=
.
ui /xik0
pk0
, - ,
X us /xik
X gj /xik
ui /xik
k
+
=
.
ui /xik0 s6=i us /xsk0 jJ gj /yjk0
k0
, :
X us /xik
X gj /xik
tik
=
+
.
pk0
us /xsk0 jJ gj /yjk0
s6=i
, j k ,
(k Pj ),
gj /yjk
pk tjk
=
.
gj /yjk0
pk0
X ui /yjk
X gs /yjk
gj /yjk
k
+
=
,
gj /yjk0 iI ui /xik0 s6=j gs /ysk0
k0
,
X ui /yjk
X gs /yjk
tjk
=
+
, j, k Pj .
pk0
ui /xik0 s6=j gs /ysk0
iI
: , ()
, , ,
, ( Pi \Ei Pj \Ej )
. , , ,
, , .
: , k i ( j ), ( )
, . . k
/ Pi (k
/ Pj ) . , ,
i, , , pk + tik ,
, ,
.
10.5.
357
45 (( 44)):
44 t1 t2 1- 2-
. .
(p1 , p2 , p3 , x
1 , x
2 , x
3 , y1 , y2 , a
1 , a
2 , t1 , t2 )
. j - :
j = (pj tj )fj (aj , yj ) p3 aj max .
aj
aj , :
1
p1 t1
1
p 2 t2
=
=
,
f1 /a1
p3
f2 /a2
p3
,
, . . .
,

u/x1
p1 u/x2
p2
=
= .
u/x3
p3 u/x3
p3
:
u/x1
1
t1
=
+ ,
u/x3
f1 /a1 p3
u/x2
1
t2
=
+ .
u/x3
f2 /a2 p3
, -, ,
u/x1
1
f2 /y1
=
,
u/x3
f1 /a1 f2 /a2
u/x2
1
f1 /y2
=
,
u/x3
f2 /a2 f1 /a1
. .
f2 /y1
t1
=
,
p3
f2 /a2
t2
f1 /y2
=
.
p3
f1 /a1
, ,
- .
4
10.5.1
/ 469.

u1 = 2 x1 + z1 u2 = 2 x2 x1 + z2 ,
c(y) = y . ( x) . -
. .
/ 470.

u1 = 2 x1 + z1 u2 = 2 x2 + z2 ,
10.6.
358

c(y, x1 , x2 ) = y + 2x1 + x2 .
( x) . - . .
/ 471.

u1 = 2 x1 y + z1 u2 = 2 x2 + z2 ,
c(y) = 2y .
( x) . -
. .
/ 472. 2
u1 = 1/x1 + z1 x2 ,
u2 = 1/x2 2x1 + z2
c(y) = y .
(A) -.
(B)
x ( - )?
(C) .
/ 473. . yx2 + 2yz 6 0 yz 6 0. u =
ln x + z yx2 , yx . (x , z ) = (0, 1000).
(1) . .
( pz = 1.)
(2) -. yx
-?
(3) .
/ 474. , , x z . x
, z .
, . .

u1 = ln x1 + ln x2 + z1 , u2 = ln x1 + ln x2 + z2 ,
u3 = ln x3 + z3 .
5 .
() .
() - .
() ( ) , . , , () .
/ 475. 468 .
10.6
, . ,
10.6.
359
, , . .
-.
. 11 .
, , , . .
Ei , E j .
qisk , k - i- s- , xik us ;
qijk , k - i- j - , xik gj ;
qjik , k - j - i- , yjk ui ;
qjsk , k - j - s- , yjk gs ;
q .
, , .
(, ), .
, ,
.
i :
X
(10.16)
pk xik +
s6=i k:xsk ui
qijk xik
j,k:xik gj
s,k:xik us
qisk xik +
qsik xsk
qjik yjk 6 i ,
j k:yjk ui
xi Xi .
xi .
,
: , ( )
, . ,
.
11
K. J. Arrow: The Organization of Economic Activity: Issues Pertinent to the Choice of Market versus Non-market Allocation, in Public Expenditure and Policy Analysis, R. Haveman and J. Margolis (ed.), University of Chicago
Press, 1970.
10.6.
360
ui
= i pk +
qisk +
xik
s:xik us
j:x
X
ik gj
ui
= i qsik s, k : xsk ui ,
xsk
qijk k,
ui
= i qjik j, k : yjk ui .
yjk
(10.17)
(10.18)
j -
j (p, q, y, x) =
pk yjk
kK
iI,kiK:yjk ui
qjik yjk
qijk xik +
iI k:xik gj
qjsk yjk +
s,k:yjk gs
qsjk ysk
s6=j kK:ysk gj
j - :
j (p, q, yj , yj , x) max
(10.19)
g(yj , yj , x) > 0.
yj .
72:
P
, x
, y
) S ( iI Si =
(
p, q
0),
) (10.16) p
, q
,
(i) (
x, y
X
, y
, x
) + Si .
i +
ij j (
p, q
i = p
jJ
) (10.19) p
q
.
(ii) (
y, x
, y
) , . .
(iii) ( x
X
iI
(
xik ik ) =
yjk k.
jJ
, (i) (ii) p
q .
.

.
112:
) - .
(
x, y
,
xi int Xi ( ) i;
ui (x, y) gj (y, x) ;
k0 , (O);
ui (x, y) gj (y, x) .
, y
) p q S, (p, q, x
.
10.6.
361
: , . ) -,
(
x, y
(10.1) (10.2).
:
qisk
qjik
pk = k ,
)
)
us (
x, y
gj (
y, x
, qijk = j
,
= s
xik
xik
)
)
gs (
y, x
ui (
x, y
, qjsk = s
.
= i
yjk
yjk
) (10.16)
, (
x, y
)
, (
x, y
, . .
i =
pk x
ik +
s,k:xik us
qisk x
ik +
qijk x
ik
j,k:xik gj
qsik x
sk
qjik yjk .
j k:yjk ui
s6=i k:xsk ui
) .
, (
x, y
, ,
.
- :
i
X
X
)
ui (
x, y
qijk , k.
qisk +
= pk +
xik
s:xik us
j:x g
ik
(10.17) i , 1i .
i (10.18) qsik , qjik .
) (10.19) , (
y, x
.
S. ,

Si = i p i
, x
),
ij j (p, q, y
jJ
i . , .
: . (O) .
, .
113:
, x
, y
, S) (
p, q
) -.
. (
x, y
:
.
10.6.
362

, , ,
. :
X
tik =
s:xik us
tjk =
qisk +
qjik +
i:yjk ui
qijk k Ei ,
j:xik gj
qjsk k Ej .
(@)
s:yjk gs
114:
, x
, y
) .
(
p, q
, y
) (tI , {Ei }i , tJ , {Ej }j ),
, (
p, x
.
(@) q = q
: ,
i (10.9) p
, , tI , Ei ,
(i) x
i =
pk x
ik +
kE
/ i
(
pk + tik )
xik
kEi
i , y
.
x
, , tj , Ej ,
j (10.12) p
(ii) y
j , x
.
y
(iii) , ,
X X
iI kEi
tik x
ik +
X X
tjk yjk .
jJ kEj
2 )
(i) (ii) , (
x1 , x

f0 (x1 , x2 ) max
x1 ,x2
(x1 , x2 ) X,
1
x
2 ) max
f0 (x1 , x
x1
2 ) X.
(x1 , x
(iii) tik , tjk
,
.

,
-.
115:
, y
) (tI , {Pi }i , tJ , {Pj }j ) S,
(
p, x
) -.
(
x, y
,
111 (ii);
ui (x, y) gj (y, x) .
, y
) q S0 , (
p, q, x
. q (@).
10.6.
363
) - , 112
: (
x, y
, y
)
p, q S , (p, q, x
.
k 6= k0 . , () . , , i. ( ,
, , .) i
,
pk
pk
=
.
pk0
pk0
, , p = p
.
111 (ii) (T ).
,
qijk
us /xik
qisk gj /xik
=
,
=
k Ei ,
us /xsk0
pk0 gj /xik0
pk 0
ui /yjk
qjik gs /yjk
qjsk
=
,
=
k Ej ,
ui /xik0
pk0 gs /ysk0
pk 0
, , ,
(@).

46 (( 44 45)):
44 . q1 q2 , 1- 2-
. . j - :
j = (pj qj )fj (aj , yj ) p3 aj + qj yj max .
aj ,yj
aj yj , :
1
p1 q1 f1 /y2
q2
=
,
= ,
f1 /a1
p3
f1 /a1
p3
1
p2 q2 f2 /y1
q1
=
= .
f2 /a2
p3
f2 /a2
p3
:
u/x1
p1 u/x2
p2
=
= .
u/x3
p3 u/x3
p3
, ,
-:
1
f2 /y1
u/x1
=
,
u/x3
f1 /a1 f2 /a2
10.7.
364
u/x2
1
f1 /y2
=
.
u/x3
f2 /a2 f1 /a1
, ,
. ,
, , -
.
4
10.6.1
/ 476. 468 . 349 . -?
10.7
. , , ,
. ,
, , , , . .
.
:
, ,
(, , ) ai Ai aj Aj .
a. , ai (aj ) ,
.
:
ui = ui (xi , ai , ai ),
gj = gj (yj , aj , aj ).
( , (xi , yj )
ai . (aj ).
,
.
47 (( )):
, ,
u1 (x1 , a) u2 (x2 , a),
(x1 , x2 )
(a). ,
u2 (x2 , a)/a < 0, , , u1 (x1 , a)/a > 0,
a
u1 (x1 , a)/a < 0, a > a
. i .
10.7.
365
: (A) ,
, (B ) ( , . . 10.1).
-, (, A0
B 0 ), . ,
( ), ,
- . , A . B , , , , (.
. 10.1).
)
) a
B
A0
x2
C
A
x1
x2
x1
. 10.1.
. -, , , ,
- . ,
, , .
-, , , . B
, A .
, . ,
. .
. ,
, .
, .
,
. , .
( )
,
, , ,
.
4
48 (( )):
, .
10.7.
366
, , . .
X
aj )
ui (xi , a) = ui (xi ,
jJ
gj (yj , a) = gj (yj , aj ),
aj Aj R. - , , {tj } {qji } (
).
, a
), x
i
, - (
x, y
int Xi , a
j int Aj . , k0 , , (O). ,
,
L=
X
iI
i ui (xi ,
aj ) +
jJ
j gj (yj , aj ) +
jJ
k (
kK
yjk
jJ
(xik ik )),
iI
:
L
ui
= i
k = 0 i, k,
xik
xik
L
gj
= j
+ k = 0 j, k.
yjk
yjk
X ui
L
gj
i
=
+ j
= 0 j.
aj
a
aj
iI
, i j .
- ,
gj /yjk
ui /xik
k
=
=
, i, j, k.
ui /xik0
gj /yjk0
k0
X ui /a
iI
ui /xik0
gj /aj
, j.12
gj /yjk0
. p
. , i , :
ui (xi , a) max pxi 6 i , xi Xi .
xi

ui /xik
pk
=
, k.
ui /xik0
pk 0
:
pyj max gj (yj , aj ) > 0, aj Aj .
yj ,aj
( aj )
gj /yjk
pk
=
, k.
gj /yjk0
pk0
12
(. ).
10.7.
367
gj
= 0.
aj
, y
, a
) .
(
p, x
, a
) ( ), (
x, y
. , ui /a 6 0 i
,
X ui /a
gj /aj
6= 0 =
,
ui /xik0
gj /yjk0
iI
- .

tj
gj /aj
=
, j.
pk0
gj /yjk0

X ui /a
tj
=
, j.
pk0
ui /xik0
iI
, . ,
, -,
-.

qij
ui /a
=
, i, j,
pk0
ui /xik0
, . ,
m .
,

X qij
tj
=
, j.
pk 0
p
4
iI k0
10.7.1
/ 477. () , .
:
u1 = ln(x1 ) z 2 ,
u2 = ln(x2 ) 0,5z 2 + 10z.
xi , z 2- , i
.
(1) , , . . . . - ( ). -.
(2) p (. .
). - p.
p ?
10.8.
10.8
368
.
l + 1 .
13 :
ui (xi , zi , ai , ai ) = vi (xi , ai , ai ) + zi ,
xi > 0, ai Ai (l + 1)- () , zi ,
,
gj (yj , rj , aj , aj ) = rj cj (yj , aj , aj ),
, cj () , (l + 1)-
yj > 0 aj Aj .
, -
:
W (x, y, a) =
vi (xi , a)
iI
cj (yj , a) max
x,y,a
jJ
xi =
iI
a i Ai ,
xi > 0,
yj ,
(WE )
jJ
yj > 0,
aj Aj .
), (
) - , (
, a
)
((
x, z
y, r), a
x, y
, a
) , zi rj ,
. , (
x, y
), (
) -.
((
x, z
y, r), a
W (x, y, a) .
),
- . ((
x, z
) -, a
i int Ai a
j int Aj , (
y, r), a
. ,
L=
vi (xi , a)
cj (yj , a) +
jJ
iI
X
kK
k (
yjk
jJ
xik ),
iI
:
vi
6 k
xik
vi
= k , x
ik > 0, i, k,
xik
cj
6 k
yjk
cj
= k , yjk > 0, j, k,
yjk
X vs
X cj
vi
+
=
, e Ei .
aie s6=i aie jJ aie
X vi
iI
aje
X cs
cj
+
, e Ej .
aje s6=j aje
. p
l . (l + 1)- 1.
i a
i i
l x
13
. , .
10.8.
369
, :
vi (xi , a) pxi
max
xi >0, ai Ai
ai
vi
vi
6 pk
= pk , x
ik > 0, k,
xik
xik
vi
= 0 e Ei .
aie
:
pyj cj (yj , a)
max
yj >0,aj Aj
aj
cj
cj
> pk
= pk , yjk > 0, k,
yjk
yjk
cj
= 0 e Ej .
aje
, y
, a
) .
(p, x
( ), , a
) . ,
(
x, y
- .
, , e Ej ,
vi
cj
6 0 i
> 0 j 6= j ,
aj e
aj e
.
X
iI
X cj
vi
<
.
aj e
aj e
j6=j
,
cj
= 0.
aj e
,
X
iI
X cj
vi
<
,
aj e
aj e
jJ
, a
) -.
, (
x, y
, , , , , . .
X
iI
X cj
vi
,
aj e j6=j aj e
. .
10.8.
370
- . ((dx, dz), (dy, dr), da) ,

dx = 0, dy = 0, dai = 0 i, daj = 0 j 6= j , daj e = 0 e 6= e .
aj e daj e
daj e . , , aj e ( > 0).
daj e > 0, daj e .
(l + 1) e j .
, .
, . ,
(l + 1)- ,
X
dzi +
iI
drj = 0.
jJ
(l + 1)- :
)
cj (
yj , a
drj =
daj e ,
aj e
)/aj e = 0.
drj = 0, cj (
yj , a

dui = dvi + dzi =
)
vi (
xi , a
daj e + dzi .
aj e
daj e . ,
X
X vi (
X
)
xi , a
dui =
daj e +
dzi = .
aj e
iI
iI
iI
=(
X cj (
)
yj , a
jJ
aj e
+ )daj e
drj = .
jJ
drj + daj e
drj = daj e .
jJ
jJ
{dzi }, dui . , ,
dzi = daj e /m
)
vi (
xi , a
daj e i,
aj e
dui = daj e /m > 0 i.

, -, , , , j
, , . .
tje =
X vi
iI
aje
X cs
s6=j
aje
, ,
tie =
X vs
s6=i
aie
X cj
jJ
aie
10.8.
371
.
, ,
- ,
, .

vs
, i, s 6= i, e Ei ,
aie
cj
, i, j, e Ei ,
qije =
aie
vi
qjie =
, j, i, e Ej ,
aje
cs
qjse =
, j, s 6= j, e Ej ,
aje
qise =
.
,

X
X
qije .
tie =
qise +
s6=i
tje =
X
iI
jJ
qjie +
qjse ,
s6=j
, , ,
,
(WE ).
,
, . . , ():
ui (xi , zi , ai , ai ) = vi (xi , ai , ai ) + zi = vix (xi ) + via (a) + zi ,
cj (yj , aj , aj ) = cjy (yj ) + cja (a).
( ) ( , ,
),
. , .
49 (( )):
47 .
ui = vix (xi ) + via (a) + zi , i = 1, 2,
xi , zi ,
a > 0 . ,
0 (a) < 0, , , v 0 (a) > 0,
, v2a
1a
0
a
(a
> 0) v1a (a) < 0, a > a
.
10.8.
372
, xi a zi . , ,
, . 10.1 (
zi ).
A, (a = 0)
0 (0) < 0 < v 0 (0).
v2a
1a
0
0 (0) (. .
v2a (0) < v1a
), A . ,
W (a) = v1a (a) + v2a (a).
0 (0) >
- (a = 0) W 0 (0) 6 0, . . v2a
0 (0).
v1a
- da > 0, dz2 > 0,
dz1 = dz2 < 0.
0
dv1 = v1a
(0)da dz2 ,
0
dv2 = v2a
(0)da + dz2 .
, dv1 > 0 dv2 > 0, dz2 ,

0
0
v2a
(0)da < dz2 < v1a
(0)da.
0 (
0 (
B, (a = a
), v1a
a) = 0, v2a
a) <
0
0. , W (
a) = 0 . -
da < 0, dz1 > 0, dz2 = dz1 < 0.
dv1 = dz1 ,
0
dv2 = v2a
(
a)da dz1 .
0 (
(dv2 > 0) dz1 < v2a
a)da.
0 (
v2a
a) =
0
0
q v1a (
a) = q , a
. W (
a) = 0.
4
50 (( , )):
3 (l = 2) ,
1- 2- , 3- .
(,
, () .
, , , y1 > 0
. , . ,
2- ,
:
c1 = c1 (y1 ) c2 = c22 (y2 ) + c21 (y1 )
c021 (y1 ) > 0.
, ,
c01 (y1 ) > 0, c022 (y2 ) > 0,
10.8.
373
.
u = v1 (x1 ) + v2 (x2 ) + z,
vk0 (x) .
.
-.

W = v1 (y1 ) + v2 (y2 ) c1 (y1 ) c22 (y2 ) c21 (y1 ).
, - :
v10 (
y1 ) = c01 (
y1 ) + c021 (
y1 ),
v20 (
y2 ) = c022 (
y2 ).
c01 (y1 )+c021 (y1 ) , ,

- . -
y1 y2 .
.
:
0
pD
1 (y1 ) = v1 (y1 ),
0
pD
2 (y1 ) = v2 (y2 ),
pS1 (y1 ) = c01 (y1 ),
pS2 (y1 ) = c022 (y2 ),
( ):
v10 (
y1 ) = c01 (
y1 ),
v20 (
y2 ) = c02 2(
y2 ).

. ,
. ,
, - y2 = y2 (- ).
, -
, ,
( ) y1 < y1 . ,
v10 (y1 ) c01 (y1 ) , c021 (
y1 ) > 0 y1 = y1 0 y1 = y1 .
. 10.2 y1 y1
: ,
. c01 (y1 ) 1- , c01 (y1 ) + c021 (y1 ) . , c021 (y1 ),
.
10.8.
0
pD
1 (y1 )=v1 (y1 )
374
c01 (y1 )+c021 (y1 )
c01 (y1 )
y1
y1
y1
. 10.2.
.
() y1 = y1 1- p1 = p1 (
y1 )
y1 .
.

t = c021 (
y1 ),
-. , 1- ,
1 (y1 ) = p1 y1 c1 (y1 ) ty1 max,
p1 = pD
y1 ) y1 .
1 (
.

y1 . s
. y1

1 (y1 ) = p1 y1 c1 (y1 ) + s(
y1 y1 ),
y1 ( ),

p1 = c01 (y1 ) + s.
, s = c021 (
y1 ) p1 =
pD
(
y
)
y1 (
1
1
D
). , p1 = p1 (
y1 ) 1-
.
, . y1 = 0
, y1 > y1 = 0.
.
, . .
, q . a.

1 = p1 y1 qa c1 (y1 ) max, y1 = a,
y1 ,a
10.8.
375

2 = p2 y2 + qa c22 (y2 ) c21 (a) max .
y2 ,a
, p1 = pD
y1 ), p2 = pD
y2 ) q = c021 (
y1 )
1 (
2 (
,
y1 = a = y1 y2 = y2 .
( ) a,
p1 q = c01 (a),

q = c021 (a).
( )
,
p1 = c01 (a) + c021 (a).
p1 = pD
y1 ) y1 .
1 (
:
0
0
S
pD
1 (y1 ) = c1 (y1 ) + c21 (y1 ) = p1 (y1 )
0
S
pD
2 (y2 ) = c2 2(y2 ) = p2 (y1 ),
, .
10.8.1
/ 478. ( 1) ,
( 2 3) . 6,
2.
c1 = 2y12 + y1 (y2 + y3 ),
ci = 0,5yi2 , i = 2, 3,
y1 , y2 , y3 . () , () - (,
), () / , () .
/ 479. 1 , ( 2 3). 12,
8.
c1 = 2y12 ,
ci = 1,5yi2 + 2y1 yi , i = 2, 3,
y1 , y2 , y3 . () ,
() - (, ), () / , ()
.
10.9.
376
/ 480. . 1-
13, 2- 11.
c1 = 2y12 + 4y1 y2 + y22 ,
c2 = 3/2y22 + 2y1 y2 + 3/2y12 ,
yj > 0 . () , () , () , -, () / . .
/ 481. ( ) (apples) ya > 0, (honey) yh > 0. (. . )
pa , ph . , . .
ca (ya , yh ), ch (ya , yh ), , ca (ya , yh )/yh < 0
ch (ya , yh )/ya < 0, . .
yh , ya .
j = pj yj cj (yj , yj )(j = a, h).

, ( ),
( , ). -.
/ 482. [MWG] . : . (
) 1 . ( ).
k b .
H .
, , . ,
, , ,
c . A
.
, w , pb ,
pm . , (, ,
). ?
k, b, c, w, pb , pm ? . , ?
, ?
?
10.9
, ( )
. ,
.
10.9.
377
44 50 , . ,
.
51 (( 44, . 345)):
,
= p1 y1 + p2 y2 p3 (a1 + a2 )
yj aj
y1 6 f1 (a1 , y2 ) y2 6 f2 (a2 , y1 ).

L = p1 y1 + p2 y2 p3 (a1 + a2 ) + 1 (f1 (a1 , y2 ) y1 ) + 2 (f2 (a2 , y1 ) y2 ).
, :
p1
1
f2 /y1 p2
1
f1 /y2
=
.
p3
f1 /a1 f2 /a2 p3
f2 /a2 f1 /a1
,
u/x1
p1 u/x2
p2
=
= .
u/x3
p3 u/x3
p3
,
- .
4
,
, (. . )
. , ,
, , , ,
.
, , ( )
.
( , ) , (
, ).
, .
, ,
, .
10.9.
378
,
.
.
- ().
, (, 1-)
(2-). a A . : Yj (a).
, , , ,

p:
pyj max .
yj Yj (a)
0j (a, p) j - p a.
, ,
, . . , p .
p .
T 2- 1-. (, , 1- 2-, T
.) : a T .
, , .. ( , ):
(a, T ), , .
(-).
-, . . (
, ). ,
, , , ( 1- ).
,
, ( 2- ).
, :
0j (a) max .
aA
A = R+ , , 2-
, , 01 (a)/a = 0.
. (). , , a = a
.
, , a = a
,
0
0
- 1 = 1 (
a) 2 = 2 (
a).

1 = 01 (a) + T,
2 = 02 (a) T.
, a a, :
01 (a) + 02 (a) max .
aA
10.9.
379
.

>
1 +
2 , , ,
,
. ,
, 01 (a)/a = 0, . ,
a,

01 (a)/a a = 0
(. . )
02 (a)/a a,
, ( , ).
, ,
1
2 , .
, (a, T ) . , , -. ,
, :
1 = 01 (a) + T max ,
aA,T
2.
2 = 02 (a) T >
, T ,
, ,
2 ,
-. T = 02 (a)
:
2 max,
1 = 01 (a) + 02 (a)
aA
2 , ,
.
, , , ,
. , , p.
, a
p
, yj ,
.
yj a
p
,
.
, , ,
2 = 02 (a) T max ,
aA,T
1,
1 = 01 (a) + T >

1 max .
2 = 01 (a) + 02 (a)
aA
, ,
.
10.9.
380
2
A2
A1
B2
S2
B1
S1
. 10.3.
. 10.3.
S1 - ,
. S2 - ,
.
S1 A1 B1 , - - S1 , S2 A2 B2
- - S2 .

. R (1 , 2 ),
1 + 2 = 01 (a) + 02 (a), a A.
, P , : (1 , 2 ) P , 1,
2 ), R,
(
1 , 2 6
2,
1 6
. 1,
2 ),
R (
1 +
2.
1 + 2 <
, (1 , 2 ) P ,
.
1 + 2 =
, ,
1,
2 ). .
, (
1 , 2 >
2
(1 , 2 ) P , 1 >
.
, .
. 10.3 A1 B1 S1 ,
A2 B2 S2 .
, R. . , . ,
.
10.9.
381
, ,
. ,
14 . , ,
, .
, , , ( ): ,
(1 , 2 ) , . .
, ; (
) , ,
.
.
( )
, , 15 .
. .
.
52 (( 50, . 372)):
p1 , p2
01 = p1 y1 c1 (y1 ),
02 = p2 y2 c22 (y2 ) c21 (y1 ).
y1
y2 ,
T :
02 = c21 (y1 ) T.
y1 , ,
p1 = c01 (y1 ) + c021 (y1 ).
, ,
c1 (y1 ) = y12 , c21 (y1 ) = y12 .
01 = p1 y1 y12 , 02 = y12 . ,
01 + 02 = p1 y1 2y12 ,
y1 = p1 /4 p21 /8;
S1
01 = p1 y1 y12 max .
y1
1 = p2 /4,
2 = p2 /4.
y1 = p1 /2,
1
1
14
, .
R. H. Coase: The Problem of Social Cost, Journal of Law and Economics 3 (1960): 144 (. . . :
, . , , .: , 1993). . R. H. Coase: Notes
on the Problem of Social Cost, in The Firm, the Market and the Law, University of Chicago Press, 1988: 157186
(. . . : , . , , .: , 1993).
15
10.9.
382
S2
02 = y12 max,
y1
1 = 0,
2 = 0.
y1 = 0,
, S1 = (p21 /4, p21 /4), S2 = (0, 0).
:
2 = p2 /4, T = 3p2 /16,
[1, 1]: 1 = 3p21 /8, 2 =
1
1
1 = p2 /4, 2 = p2 /8, T = p2 /16,
[1, 2]: 1 =
1
1
1
2 = 0, T = p2 /16,
[2, 1]: 1 = p21 /8, 2 =
1
1 = 0, 2 = p2 /8, T = 3p2 /16,
[2, 2]: 1 =
1
1
[i, j] , i- , j - .
y1 = p1 /4, p21 /8.
4
. 10.4.
2
p21 /8
[2, 2]
S2
p21 /8
p21 /8
p21 /4
[2, 1]
p21 /4
3p21 /8
[1, 2]
S1
[1, 1]
. 10.4.
. . , , ,
( , ) (
), ( ).
,
- ( ).
, , .
.
, , , .
, , .
10.10.
383
(
) .
(,
-), , . ,
.
10.9.1
/ 483. . X
ux = x1 x2 + 2z z 2 .
Y
u y = y1 y2 z 2 .
xk , yk , z () X Y (X ). X
, Y .
( ).
(1) . ?
(2) z , Y X t
, z z . X
, . .
, . .
p. ,
, p!
. ?
(3)* , ux = x1 x2 + 2z z 2 ,
0 1 ,
X.
10.10
,
. , .
,
.

, .
, , - .
- ,
.
,
,
10.10.
384
48.

ui = vi xi ,
aj + zi ,
jJ
cj (yj , aj ).
, a
j . :
pyj cj (yj , a
j ) max
yj >0
, , .
), (
), a
) , a
, (p, (
x, z
y, r, a
j int Aj , ,
cj1
cj2
6=
.
aj1
aj2
), (
)) -. ,
((
x, z
y, r, a
- . daj . , l
, (l + 1)-
X cj
jJ
aj
daj .
, (l + 1)- , , . .
P
daj , jJ daj = 0. - , , , .
, , .
, ( )
.
,
pa . :
pyj cj (yj , aj ) + pa (
aj aj )
max
yj >0,aj Aj
), (
), a
)
: (p, pa , (
x, z
y, r, a
:
.
3 (
xi , zi ) p a
3 (
yj , rj , a
j ) p, pa .
3 .
3 :
X
aj =
jJ
a
j .
jJ
,
, a
), - ,
(
x, y
, . . ,
X
jJ
aj =
X
jJ
a
j .
10.10.
385
, a
)
. , (
x, y
:
X
W (x, y, a) =
vi xi ,
iI
xi =
aj
jJ
yj ,
xi > 0,
cj (yj , aj ) max
x,y,a
jJ
aj =
yj > 0,
a
j ,
(WC )
jJ
jJ
jJ
iI
aj Aj .
, :
116:
), (
), a
)
(p, pa , (
x, z
y, r, a
, a
) . (
x, y
(WC ).
: (x0 , y0 , a0 ) (WC ).
i , x0i
x
, . .
vi (
xi ,
a
j ) p
xi > vi (x0i ,
a
j ) px0i .()??
jJ
jJ
j ) , (y0j , a0j )
(
yj , a
, . .
yj , a
j ) + pa (
aj a
j ) > py0j cj (y0j , a0j ) + pa (
aj a0j ).()
p
yj cj (
(*) (**) , P
P
jJ aj = jJ a
j ,
X
iI
vi (
xi ,
a
j )
jJ
j ) >
cj (
yj , a
jJ
X
iI
vi (x0i ,
a
j )
jJ
cj (y0j , a
j ).
jJ
, a
) (WC ).
, a
) > W (x0 , y0 , a0 ), . . (
, W (
x, y
x, y
.
117:
), (
), a
)
(
p, (
x, z
y, r, a
), (
), a
) , (
p, pa , (
x, z
y, r, a
, a
) 6 W (
, a
).
. W (
x, y
x, y
, , a
j int Aj ,
cj1 (
yj1 , a
j1 )
cj2 (
yj2 , a
j2 )
6=
,
aj1
aj2
()
, a
) < W (
, a
).
W (
x, y
x, y
, a
) > W (
, a
)
: W (
x, y
x, y
.
(), , , -,
. , -
, a
) = W (
, a
) W (x, y, a). , W (
x, y
x, y
, a
) (WC ), -
, (
x, y
(WC ). , .
10.10.
386
, , - , , .
16 ,
- .
118 (( )):
), (
), a
)
(p, pa , (
x, z
y, r, a
), (
))
, ((
x, z
y, r, a
- .
X
X
a
j =
a
j ,
jJ
jJ
), (
)) - .
((
x, z
y, r, a
, a
) (WC ), (
, a
)
: (
x, y
x, y
.
, a
) 6 W (
, a
).
W (
x, y
x, y
), (
)) -,
, ((
x, z
y, r, a
, a
) > W (
, a
).
W (
x, y
x, y
, a
), (
, a
), (W ), , , ((
), (
))
, (
x, y
x, y
x, z
y, r, a
- .

), (
), a
) - : (p, pa , (
x, z
y, r, a
.
), (
), {tj })
tj pa , (p, (
x, z
y, r, a
. :
), (
), {tj }) , , tj =
, (p, (
x, z
y, r, a
), (
), a
)
t0 ., . . 17 . (p, t0 , (
x, z
y, r, a
, .
a
X
jJ
a
j =
a
j .
jJ

. .
10.10.1
/ 484. . ,

j+n 2
2
cj (yj , aj ) = yj + aj
(j = 1, . . . , n),
2n
16
J. E. Meade: External Economies and Diseconomies in a Competitive Situation, Economic Journal 62 (1952):
5467.
17
,
, .
10.11.
387
yj , aj .

u x,
n
X
j=1
aj = ln(x)
n
X
aj + z,
j=1
x , z .
(1) .
(2) -.
(3) a
.
?
(4) a
.
-?
10.11
/ 485. ?
)
)
)
)
/ 486. [MWG] , . ui = vi (h) + zi (i = 1, 2), h , zi
, . vi () , vi00 () < 0 (i = 1, 2), v10 () > 0, v20 () < 0.
.
(1) . , .
(2) 1- ?
(3) , 2- ,
e. u2 = v2 (h, e) + m2 , 2 v2 /he > 0
( , ).
, ?
/ 487. [MWG] c(y, h), y (p ), h
() . ,
u = v(h) + z , z , .
(1) .
(2) -.
(3) , ,
.
(4) ?
/ 488. [Laffont] , m
, c(y) = y 2 . :
ui = ln xi + zi 0,5 ln y.
10.11.
388

. , ( ) , , .
(1) .
(2) - . , .
.
(3) (, ). , , .
?
(4) , ,
, , ,
. , .
(5) xi .
( ). -? , ,
.
(6) ,
() = ( ) (1 + ),
? ?
11
.
73:
,
;
xik , (i-) 1 ,
P
k (xk = jJ yjk + k ) xik 6xk .
, ,
. (. non-rivalness).
: , , , , . .;
- , -
. , , .
(, ), .

. (non-excludability).
,
.
2 .
74:
, .
, k - , xik
P
i- 3 xik = xk = jJ yjk .
( , , )
1

, , , . ,
, . ,
.
2
,
, .
3
( ) , .
.
, .
389
390

.
. , ;
, , . ,
, , , , , ( ,
), , . . , .
. ,
.
, . , ,
4 .
, , ,

, .
5 .
, , ( ) ; , - . , /
(, ) . , ,
( ).
5
, . ( ), .
(. discrimination - ) .
( ), -. ,
, ( ).
(. lump-sum costs) (, ).
, . ,
,
.
.
( ) .
, ,
.
, , :
.
, , .
, .
11.1.
11.1
391
, . K1
, K2 .
, , xk ,
i-
(2)
xi = ({xk }kK1 , {xik }kK2 ) = (x(1) , xi ).

, i-
Xi :
(2)
Xi = X (1) Xi ,
(2)
xi = (x(1) , xi ) Xi ,
(2)
x(1) X (1) xi
(2)
Xi .
(x, y) ,
(,
):
xi Xi , i I,
xk =
yjk , k K1 , i I,
jJ
xik =
yjk +
ik , k K2 ,
iI
jJ
iI
gj (yj ) > 0, j J.
, - m . - ,
.
), - , (
x, y
, (i0 = 1, . . . , m):
ui0 (xi0 ) max
x,y
xi Xi , i I,
ui (xi ) > ui (
xi ), i 6= i0 ,
gj (yj ) > 0, j J,
xk =
yjk , k K1 ,
jJ
X
iI
xik =
X
jJ
yjk +
ik , k K2 .
iI
,
. -
11.1.
392
( ui (
xi )) :
L=
i ui (xi ) +
iI
X
kK1
k (
yjk xk ) +
jJ
j gj (yj ) +
jJ
X
kK2
k (
yjk +
jJ
X
iI
ik
xik ).
iI
ui () gj () , ,
, - (. .
i int Xi ).
, x
(
): ( ) (i , j , k ),
i > 0 i, j > 0 j ,
L
= 0 i I, k K1 ,
xk
L
= 0 i I, k K2 ,
xik
L
= 0 j J, k K.
yjk
(
) , , i0 = 1.
, ,
, i
k K2 , ui (xi )/xik > 0, j
k K2 , gj (yj )/yjk < 0.
, 6 , :
X ui (
xi )/xk
iI
ui (
xi )/xik0
gj (
yj )/yjk
, i I, j J, k K1 ,
gj (
yj )/yjk0
gj (
yj )/yjk
ui (
xi )/xik
, i I, j J, k K2 ,
=
ui (
xi )/xik0
gj (
yj )/yjk0
k0 K1 , k0 6= 0.
7 . ,

.
. 11.1 ( )8 .
. , -, , , 2-.
.
. 1- 1- -.
2- , .
6
, i > 0 i , j > 0 j
k0 K1 , k0 > 0 .
7
P. A. Samuelson: The Pure Theory of Public Expenditure, Review of Economics and Statistics 36 (1954):
387389. . . , 18.
8
P. A. Samuelson: Diagrammatic Exposition of a Theory of Public Expenditure, Review of Economics and Statistics 37 (1955): 350356. . . . . 11.4
( ) .
11.2.
x1
2-
y1
x
1
y1
1-
393
u2 =
u2
u2 =
u2
x
21
x21
x22
x
22
y2 +2
y2 +2
. 11.1. -
11.1.1
/ 489. . . .
)
;
)
;
)
;
)
.
11.2
. , .
, , ,
,
(2)
X (1) R+ Xi
= R i,
:
ui (x, zi ) = vi (x) + zi ,
x ( y ), zi
(
). zi ,
.
c(y), ( ), , r , y .
. , , ,
( ), .
, ()
11.2.
394
, ( , ). .
. :
X
vi0 (
x) = c0 (
x).
iI
- . , ,
-
.
:
X
W (x) =
vi (x) c(x) max .
x>0
iI
, -
, , x
. - . vi0 (x) ,
, c0 (y) ,
.
- :
X
vi0 (
x) 6 c0 (
x),
iI
, , . . y > 0,
X
vi0 (
x) = c0 (
x),
iI
, x
> 0.
, , , -
(, xi > 0 i):
vi0 (
xi ) = c0 (
y ), i,
x
i = y.
iI
. , (, )
( ) ( ).
, . ,

, .
, () ( ), . . x = 1 ( ), , . . x = 0.
, vi (0) = 0, c(0) = 0, vi (1) = vi
c(1) = c.
X
W (0) = 0 W (1) =
vi c.
iI
x
= 0,
= 1,
iI vi < c x
iI vi > c. ,
iI vi =
c, ,
.
11.3.
11.2.1
395
/ 490. :
u1 = av(x) + z1
u2 = bv(x) + z2
(a, b > 0).
v 0 (x) .
c(y) = 2y .
a = a0 , b = b0 -
0
x . a = ka0 , b = kb0 (k > 0) -
x00 , x00 > x0 . , -
.
, k > 1 k < 1? .
/ 491. uj = vj (x) + zj . vj0 (x) . c(y) = y .
= 0 - x0 .
= 00 (00 > 0 ) - x00 .
, - .
, x00 > x0 x00 < x0 ? .
11.3

( )
, , , , ,
9 .
() . , -
, , .
. i- k - tik >0. , . , tik i (teisk , s 6= i) .
:
pk xk = pk yk =
tik , k K1 .
iI
, , () .
11.3.
396
, i :
ui (xi ) max
xi ,ti
pk xik +
kK1
tik 6i ,
(11.1)
kK2
pk xk = tik +
teisk , k K1 ,
s6=i
xi Xi ,
tik >0, k K1 .
75:
, , , y
),
p, t, x
10 (
) ;
# (
x, y
i ti
# x
,
(11.3) p
X
y
j + Si
i +
ij p
i = p
jJ
{teisk }s6=i, kK2 , teisk = tsk s 6= i, k K1 ;

j ?? (11.3)
# y
;
p
# :
pk x
k =
X
jJ
pk yjk =
tik , k K1 .
iI
,
xi int Xi . :;
Li = ui (xi ) +
ik (tik +
kK1
X
s6=i
teisk pk xk ) + i (i
X
kK1
tik
pk xik ).
kK2
:
Li
ui
=
ik pk = 0, k K1 ,
xk
xk
Li
ui
=
i pk = 0, k K2 ,
xik
xik
Li
= ik i 6 0, ik i = 0, tik > 0,
tik
i , ik k - .
10
-, . . E. Malinvaud:
Lecons de theorie microeconomique, Paris: Dunod, 1969 (. . . :
, .: , 1985). (. souscription).
.
11.3.
397
, i k , ui /xik >
0. i > 0 i, , , ,
.
k0 , . ui /xik0 >
0 i. i k (tik > 0),
,
ui /xk
pk
=
.
ui /xik0
pk 0
, , . , k , , ,
ui /xk
pk
6
.
ui /xik0
pk 0
j -
gj /yjk
pk
=
, j, k K1 .
gj /yjk0
pk0
, k ,
i1 , .
gj /yjk
ui1 /xk
pk
=
=
,
ui1 /xi1 k0
pk0
gj /yjk0
- :
X ui /xk
iI
ui /xik0
gj /yjk
.
gj /yjk0
, -
X ui /xk
i6=i1
ui /xik0
= 0.
, ui /xk > 0 i, , ui /xk =

0 i 6= i1 .
. .
119:
, y
) , xi
(
p, t, x
int Xi i I , . ,
,
3 i k0 , ???
ui (
xi )/xik0 > 0 gj (
yj )/yjk0 < 0 j;
3 k ,
ui (
xi )
>0, i;
xk
11.3.
398
3 i1 ti1 k > 0,
i2 6= i1 .
) .
(
x, y
: , , .
, , ,
. - .
:
dxk = dyjk > 0 dyjk0 < 0, dyjk0 = dxi1 k0 + dxi2 k0
dxi1 k0 < 0, dxi2 k0 < 0,
j .
, k dyjk , k0 dyjk0 , , i1 i2 dxi2 k0 dxi1 k0 .
, , dyjk dyjk0

gj
gj
dyjk0 +
dyjk = 0.
yjk0
yjk
k k0
i1
dui1 =
ui1
ui1
ui1
ui1
dxk +
dxi1 k0 =
dyjk +
dxi1 k0 =
xk
xi1 k0
xk
xi1 k0
=
ui1 ui1 /xk

(
dyjk + dxi1 k0 )
xi1 k0 ui1 /xi1 k0
(
k k0 i1 ),
dui1 =
=
ui1 gj /yjk
(
dyjk + dxi1 k0 ) =
xi1 k0 gj /yjk0
ui1
ui1
(dyjk0 + dxi1 k0 ) =
dxi2 k0 .
xi1 k0
xi1 k0
ui1 /xi1 k0 > 0, dxi2 k0 < 0 dui1 .

i2 :
ui2
ui2
ui2
ui2
dui2 =
dxk +
dxi2 k0 =
dyjk +
dxi2 k0 =
xk
xi2 k0
xk
xi2 k0
=
=
ui2 ui2 /xk

(
dyjk + dxi2 k0 ) =
xi2 k0 ui2 /xi2 k0
ui2
ui2 /xk gj /yjk0
(
dyjk0 + dxi2 k0 ) =
xi2 k0 ui2 /xi2 k0 gj /yjk
11.3.
399
k0
dxi2 k0 = dyjk0 ,
(0, 1) i2 k0 .
dui2 =
ui2
ui2 /xk gj /yjk0
(dyjk0
dyjk0 ) =
xi2 k0
ui2 /xi2 k0 gj /yjk
ui2
ui2 /xk gj /yjk0
(
)dyjk0 =
xi2 k0
ui2 /xi2 k0 gj /yjk
dyjk0 < 0, dui2 > 0 ,

<
ui2 /xk gj /yjk0

.
ui2 /xi2 k0 gj /yjk
(0, 1), 11 . , - .

, , ,
. , - .
1) m = 1. ( , ,
.)
2)
( , ), . .
( ).
3) ,
, .
4) . ,
.
5) . .
():
xk > 0 k ,
. -,
, .
(): , ()
.
6) - ,
.
53 (( )):

ui (x1 , xi2 ) = min(x1 , xi2 ),
x1 > 0 , xi2 > 0 i-
,
g(y1 , y2 ) = y1 + y2 ,
11
/x
g /y
, ui i2/xi kk = gjj /yjk

, , , jk0
2
2 0
. ,
ui2 /xk = 0 , - .
11.3.
400
y1 , y2 (y2
). , .
i > 0. x1 = y1 ,
x12 + x22 = y2 + 1 + 2 .
, - -
( ).
- . :
-
. , , , x1 < x12 .
x12 x1 .
.
-
. , . . x1 > x12 x1 > x22 .
,
x12 x22 .
, .
- , . .
x1 + x12 + x22 = 1 + 2 .
, - :
(i) x12 < x1 = x22 , (ii) x22 < x1 = x12 , (iii) x1 = x12 = x22 .
,
, -.
. , . : p1 = p2 = 1.
,
min(x1 , xi2 ) max
xi ,ti
xi2 + ti 6i ,
x1 = ti + ti ,
x1 > 0, xi2 > 0,
ti >0.
i . xi2 = i ti x1 = ti + ti :
min(ti + ti , i ti ) max 06ti 6i .
ti
ti i .
(A) ti > i , ti = 0, x1 = ti xi2 = i .
(B) ti 6i , ti = (i ti )/2, x1 = xi2 = (i + ti )/2.
11.3.
401
ui
ui
i
(B)
(A)
ti
i
ui =min(x1 ,xi2 )
ui =min(x1 ,xi2 )
ti
ti
ti
(i ti )/2
. 11.2.
4 : AA, AB, BA, BB. AA ,
t1 = t2 = 0, , , t1 > 2 t2 > 1 . .
.
(AB) ,
t1 = 0, t2 = x1 = x22 = 2 /2, x12 = 1 .
, 2 > 21 .
(BA) :
t2 = 0, t1 = x1 = xi1 = 1 /2, x22 = 2 .
, 1 > 22 .
(BB)
t1 = (1 t2 )/2, x1 = x12 = (1 + t2 )/2,
t2 = (2 t1 )/2, x1 = x22 = (2 + t1 )/2.

t1 = (21 2 )/3, t2 = (22 1 )/3, x1 = x12 = x22 = (1 + 2 )/3.
t1 62 , t2 61 , . . 1 622 , 2 621 .
,
1 + 2 = p1 1 + S1 + p2 2 + S1 = 1 + 2 .
,
x1 + x12 + x22 = 1 + 2 .
1 + 2 = 1 + 2 , .
(AB) (i), (BA)
(ii), (BB) (iii). ,
-.
, -
. , , -, (i), (AB),
1 = x12 , 2 = 2x1 = 2x22 , t1 = 0, t2 = x1 = x22 .
11.3.
402
-, (iii), (BB),
1 + 2 = 3x1 = 3x12 = 3x22 , t1 = (21 2 )/3, t2 = (22 1 )/3.
4
, (4).
, (2), (3), (5) (6) .
, , , .
. , , ,
u /x
ui i1/xi kk k k0 ,
1
1 0
.
. , , .
(
p, t, x
, y)
+ p ti
vi ((ti +
ts )/
p) ti max .
ti >0
s6=i
+ , x
p:
X
ti = px
.
iI
+ p y
py c(y) max .
y>0
+ : x
= y .
:
vi0 (
x) 6 p, vi0 (
x) = p, ti > 0;
p 6 c0 (
x), p = c0 (
x), x
> 0.
, x
> 0 ( , ). i1 , ti > 0 , , vi01 (
x) =
c0 (
x).
vi0 (
x) > 0, i1 , P
, iI vi0 (
x) > c0 (
x).
, vi0 (x) ,
, c0 (y)
. x
>x
, x
- ( P
) . , W 0 (x) = iI vi0 (x) c0 (x)
, W 0 (
x) > 0, W 0 (
x) 6 0.

, , , (
11.3.
403
)
, .
: , .

, , . . ,
0
v10 (x) < v20 (x) < < vm
(x) x > 0.
.
(
p, t, x
, y) .
0
vm
(
x) 6 p.
0 (
vi0 (
x) < vm
x) i 6= m, vi0 (
x) < p. , ti = 0, i 6= m,
. . , m .
( ,
v1 < v2 < < vm .

, m- .)
, x
= tm /
p , :
(1) tm = 0 y = 0,
(2) tm > 0 y > 0.
0 (0) 6 p
0 (x) vm
6 c0 (0) 12 . vm
, ,
.
0 (
x) = p = c0 (
x). , vm
0
vm (x) , ,
. . 11.3.
0
i vi (y)
c0 (y)
0
v20 (y) .vm (y)
.
.
p
v10 (y)
y
y
. 11.3.
0 (0) < c0 (0), , v 0 (0) > c0 (0),
vm
m
.
0
vm
(0) c0 (0) , .
12
11.3.
404
0 (x)c0 (x) . , vm
. ,
0
x
= yp = vm
(
x) = c0 (
y ), tm = px
,
ti = 0, i 6= m,
(
p, t, x
, y) . , ,
0
vi0 (
x) < vm
(
x) = p = c0 (
y ) ti = 0, i 6= m.
, .
0 (0) 6 p
, vm
6 c0 (0), (
p, 0, 0, 0)
.
0 (x) c0 (x) ) , ( vm
0 (x).
, x , c0 (x) > vm
x
, 0 (0) 6 c0 (0),
. . , vm
0
0
x
= 0. vm (0) > c (0),
0
x
> 0, vm (
x) = c0 (
x), .
, . .
54:
ui (x, zi ) = 2i ln x + zi , c(y) = y 2 .
y , :
X
vi0 (
x) = c0 (
x).
iI
(2i /
x) = 2
x x
2 =
iI
i .
iI
, r = x
2 .
,
r =
i .
iI

vi0 (
x) 6 c0 (
x) i,
. .
2i /
x 6 2
x i x
2 > i i.
11.3.
405
x
> 0, , . , x
2 = maxi i .

r = max i .
i
p =
c0 (
x)
= 2
x ,
ti = px
= 2
x2 = 2
r.
iI
3 , i = i. ,
, .
.
r = 3, x
= y = 3, p = 2 3, t3 = 6, t1 = t2 = 0.
- x
= 6,
.
4
11.3.1
/ 492. :
u1 = av(x) + z1 u2 = bv(x) + z2 (a, b > 0).
v 0 (x) .
c(y) = 2y .
a b () ? .
/ 493. :
u1 = av(x) + z1 u2 = bv(x) + z2 (a, b > 0).
v 0 (x) .
c(y) = 2y .
(1) a b , ()
?
.
(2) v(x) , ?
/ 494. (s > 0) (zi > 0) u1 = ln s+z1 , u2 = 2/3 ln s+z2 .
1 = (0, 0,5) 2 = (0, 0,5). ( > 0, 5).
-? .
/ 495. (G > 0) (zi > 0) u1 = 0,5G + z1 , u2 = G + z2 ( > 0).
1 = (0, 40) 2 = (0, 20).
. -? .
/ 496. (Q > 0) (zi > 0) u1 = ln Q + z1 , u2 = ln Q + z2 . ( > 0).
11.3.
406
1 = (0, 0,5) 2 = (0, 0,5). .

-? .
/ 497. (x > 0) (zi > 0) u1 = 2x + z1 , u2 = x + z2 ( > 0).
1 = (0, 10) 2 = (0, 10).
. -? .
/ 498. (x > 0)
u1 = ln(2 + x) + z1 , u2 = ln(2 + x) + z2 ( > 0).
.
? .
/ 499.
u1 = ln G + 4 ln x1 u2 = ln G + 3 ln x2 .
5 8 .
.
(A) , .
(B) .
/ 500. u1 = Gx1 u2 = G2 x2 , G xi
. G3 = r , r
.
1 = 0,5, 2 = 2,5. .
(A) , x1 = 0,5, x2 = 1,5, G = 1, r = 1, pG = 3, px = 1, t1 = 0, t2 =
3 .
.
(B) , .
/ 501. u1 = z + x1 u1 = 2 z + x2 ,
z xi .
9z = a, a
.
1 = 4, 2 = 117. .
(A) , x1 = 4, x2 = 81, z = 4, a = 36, pz = 9, px = 1, t1 = 0, t2 =
36 .
.
(B) , .
u1 = 3/a 1/x1 u2 = 1/a 1/x2 ,
a xi .
a = 3h, h
.
1 = 2/3, 2 = 2/3. .
(A) , x1 = 2/3, x2 = 2/3, a = 2, h = 2/3, pa = 1, px = 3, t1 = 2,
t2 = 0 .
.
(B) , .
11.3.
407
/ 502. u1 = xz14 u2 = xz2 , x zi

. x2 = z0 , z0
.
1 = 9/4, 2 = 3/4. .
(A) , z1 = 2, z2 = 3/4, x = 1/2, z0 = 1/4, px = 1, pz = 1, t1 = 1/2,
t2 = 0 .
.
(B) , .
/ 503. , , i = 1, . . . , m
ui (G, zi ) = i f (G) + zi ,
G , zi , f () . i < j i < j . , c(G).
. , , ? .
-.
/ 504.

ui (x, zi ) = i ln x + zi ,

c(y) = y 2 /2.
.
.
? ?
/ 505. ,
ti > 0,
. ui = Gxi .
-, ) =
(2, 3, 7), ) = (2, 4, 6).
/ 506. [Bergstrom] ( )

.
ui = u(x1 , xi2 ). . .
, .
. 1 . ( , (1 ) . 1 . ). ,
. ,
.
(1) ?
(2) , , ?
?
(3) ,
, , ,
,
11.4. ()
408
(. . ).
?
/ 507. . .
. .
. ,
?
/ 508. , , m ,
. ,
n . . .
n?
11.4
()
- . , ,
, ?
, , 13 . - . , , ,
:
- .
,
.
, , , qik , (k K1 ). , , ,
, . .
X
qik = pk , k K1 .
iI
.
.
13
, . .
11.4. ()
409
14
ui (xi ) max
xi
qik xk +
kK1
pk xik 6i ,
(11.2)
kK2
xi Xi .

pyj max .
yj
(11.3)
gj (yj ) > 0, j.
76:
, x
, y
) () 15 ,
(
p, q
) ;
# (
x, y
i (11.2)
# x
, {
p
qik }kK1
X
i +
i = p
y
j + Si
ij p
jJ
;
j (11.3) p
# y
# :
X
qik = pk k K1 .
iI
,
() :
X
yjk , i, k K1 .
x
ik = x
k =
jJ
-
.
,
(11.2) :
ui /xk
qik
=
, i, k K1 ,
ui /xik0
pk0
14
, :
.
15
E. Lindahl: Die Gerechtigkeit der Besteuerung: eine analyse der Steuerprinzipien auf Grundlage der
Grenznutzentheorie, , Lunds universitet, 1919 (. I, . 4 Positive L
osung) (. . E. Lindahl:
Just TaxationA Positive Solution, in Classics in the Theory of Public Finance, R. A. Musgrave and A. T. Peacock
(ed.), London: Macmillan, 1958: 168176). , ,
, .
, (.
. D. K. Foley: Lindahls Solution and the Core of an Economy with Public Goods, Econometrica 38 (1970):
6672.
11.4. ()
410
ui /xik
pk
=
, i, k K2 .
ui /xik0
pk0
k0 K1 , pk0 6= 0.
, (11.3) :
gj /yjk
pk
=
, j, k K.
gj /yjk0
pk0
P
, iI qik = pk ,
, .
-

.
. 11.4 ( 16 ). , (k = 1) (k = 2),
, . A, B C
, 2 = 12 + 22 , x1 , x12 x22 . ABC . , ,
. , .
1 2 ABC x22 x12 .
, x
(
. x
). -
.
x1
A
22
12
x12
x22
. 11.4.
. qi
16
S. Kolm: La Valeur Publique, Paris: Dunod-CNRS, 1970.
11.4. ()
411
:
vi (xi ) qi xi max .
xi >0
, (xi > 0),
qi = vi0 (xi ).
:
py c(y) max
y>0
(y > 0),
c0 (y) = p.
(
p, {
qi }i , {
x, zi }i , {
y , r})
x qi ,
y p, x
= y P
p = iI qi .
, , () .
,
X
vi0 (
x) = p =
iI
qi = c0 (
y ).
iI
. . .
, ({
x, zi }i , {
y , r}),
, c(y)
vi (xi ). , qi = vi0 (
x) x
, y
P
, p = iI qi .
,
.
.
, , .
120 (( )):
, x
, y
) , (
p, q
) - , (
x, y
.
, , .
( ).
121 (( )):
, <i i, ,
) Xi , i Yj , j . , (
x, y
, p q,
, y
) .
S , (p, q, x
,
,
11.4. ()
412
list??? - - ;
;

17 () .
. ( k, k K1 ,
). , ,
(I K1 K1 ,
) ()
.
: , , , , , . , k m . ,
ml1 + l2 , l1 , l2
. .
i i Xi
X
:
(1)
(1)
(2)
i
i = (xi,1 , . . . , xi,m , xi ) X
x
,
(1)
(2)
(xi,i , xi ) Xi ,
(1)
xi,s = 0 s 6= i.
e i <i
i- <
:
e iz
i<
i
x
,
(1)
(2)
(1)
(2)
(xi,i , xi ) <i (zi,i , zi ).

:
(2)
i = (0, . . . , 0, i ).
Yj j .
(1)
(1)
(2)
j = (yj,1 , . . . , yj,m , yj )
y
j Yj ) ,
Yj ( y
(1)
(1)
(1)
yj,1 = = yj,m = yj ,
(1)
(2)
(yj , yj ) Y.
17
,
, .
11.4. ()
413
, ( ,
).
(2)
(1)
(2)
({(x(1) , xi )}i , {(yj , yj )}j ) ,
(2)
(1)
(1)
(2)
({(0, . . . , 0, x(1) , 0, . . . , 0, xi )}i , {(yj , . . . , yj , yj )}j )

.
- .
(2)
, (p, q, {(x(1) , xi )}i ,
(1)
(2)
{(yj , yj )}j )
, y
) ,
, (
p, x
(2)
(1)
(1)
(2)
= (q, p), x
i = (0, . . . , 0, x(1) , 0, . . . , 0, xi ), y
j = (yj , . . . , yj , yj ).
p
55 (( 54)):

ui (x, zi ) = 2i ln x + zi ,
c(y) = y 2 .

p = c0 (
y ) = 2
y,
P
qi = vi0 (
y ) = 2i /
y.
pP
i = p, y =
iI q
iI i , -
y .
3 , i = i.
y = 6, p = 2 6, q1 = 2/ 6, q2 = 4/ 6, q3 = 6/ 6.
4
- , . , , ,

, , .
, , .
, , :
1. , ,
, . .
. ,
. ,
, ,
,
, . . . ,
, ,
. ,
, ,
.
11.4. ()
414
2. , -
. , , , ,
,
. , , . ,
, , , , .
, , ,
.
3. , , , , . .
.
, . , , .
.
, . , ,
.
, ,
( )
.
, , .
, , .
11.4.1
/ 509.
u1 = ln G + 2 ln x1 u2 = ln G + 3 ln x2 .
6 4 .
2
.
(A) , .
(B) .
/ 510. / , :
1) . . .
2) - . . .
/ 511. [Bergstrom] 1000 , ui (xi , y) = y (xi + ki ), y > 0
, xi > 0 .
1 ( ).
i .
11.5. :
415
. ? i- ?
11.5
, . ik (xk ) i- , xk k . :
X
ik (xk ) = 1 k.
iI
i- k - ik (xk )pk xk .
ik (xk ). .
,
. , . . .
ik (xik ) p i (1)
(2)
i ), :
(
xi , x
(1)
(2)
ui (xi , xi ) max
xi
ik (xik )pk xik +
kK1
pk xik 6i ,
(11.4)
kK2
(1)
(2)
xi = (xi , xi ) Xi .

(), ,
.
77:
, y
),
(
p, x
) ;
# (
x, y
(2)

i ) (11.4) p
# (
x(1) , x
X
i +
y
j + Si ;
i = p
ij p
jJ
j (11.3)
# y
.
p
.
ik (xk ) :
ik (xk ) = ik xk ,
, , y
)
. (
p, x
, x
, y
) , qik = ik pk .
. (
p, q
11.5. :
416
, x
, y
)
qik . (
p, q
, y
)
, (
p, x
, ik = qik /
pk .
, .
:
ui /xk
pk
0
= (ik (
xk ) + ik
(
xk )
xk )
,
ui /xik0
pk0
k , k0 .

pk
ui /xk
= ik
,
ui /xik0
pk0
ik = P
ui /xk
ui /xik0
us /xk
sI us /xsk
0
,
.

vi (xi ) i pxi max .
xi >0

vi0 (
x) = i p.

vi0 (
x)
.
0 x)
v
sI s (
i = P
. 11.5
. xi () , vi0 (). p xi = xi (i p).
x1 (1 p) = x2 (2 p) = x2 ((1 1 )
p).
x
x2 (2 p)
x1 (1 p)
2 =11
. 11.5.
11.6.
417
, . ,
, . . ,
, ,
.
.
,
,
. .
11.5.1
/ 512. :
u1 = av(x) + z1 u2 = bv(x) + z2
(a, b > 0).
v 0 (x) .
c(y) = 4y .
1
2 . , . 1 /2 ?
.
/ 513. :
u1 = av(x) + z1 u2 = bv(x) + z2 (a, b > 0).
v 0 (x) .
c(y) = 5y .
2/3
2/3. a b ?
.
11.6
(
) .

( ).
:
(2)
ui (x(1) , xi ) max
X
ik (xk )pk xk +
kK1
pk xik 6i ,
kK2
(2)
(x(1) , xi ) = xi Xi ,
(11.5)
11.6.
418
(2)
xi x(1) .
u
i (), (1)
x

.
.
78:
A {<i }i i = 1, . . . , m A.
a
A
a A, a
.

.
79:
, y
), 18
(
p, x
) ;
???list # (
x, y
(2)
i (11.5) p,
# x
i +
i = p
y
j + Si
ij p
jJ
(1) ;
x(1) = x
(1) ,
#x
X (1) , ,
u
i ();
j (11.3)
# y
.
p
:
(1) .
19 , , ,
(> 3)
.
(2) , -.
, .
,
A ( , ).
18
-,
H. R. Bowen: The Interpretation of Voting in the Allocation of Economic Resources,
Quarterly Journal of Economics 58 (1943): 2748.
19
(Marie Jean Antoine Nicolas de Caritat marquis de Condorcet), 1743-1794 .
3 , 3 . ,
:
a1 1 a2 1 a3 ,
a3 2 a1 2 a2 ,
a2 3 a3 3 a1 .
11.6.
419
 a2 > a
i , a2 <i a1 .
. i .
i

u
i (x) = vi (x) i px.
, i u
i (x) p.
i x
i 20 .
( a
i = x
i ) A = [0, ).
, x
i u
i (x) A.
, , vi0 (x), , (b) (c).
, u
i (
xi ) = vi (
xi ) i p
xi , i p.
vi0 () , x
i
vi0 (
xi ) 6 i p,
, x
i > 0,
vi0 (
xi ) = i p.
.
u
i (xi ) , m = 3,
:
u
1 (x)
u
3 (x)
u
2 (x)
x
1
x
2
x
3
, , m (m = 2s + 1), .
x
i , (s + 1)- . ( x
i ,
s = (m 1)/2 , s ).
x
2 . ,
. i . , i , , p, p u
i (x).
20
vi0 (xi ) 0 xi .
11.6.
420
, ()
. y , p
,
p = c0 (
y) x
i = y,
i p.

, , ,
( ).
, ( )
i .

.
, p = c0 (
xi ), x
i
m
vi0 (xi ) = i c0 (xi ).
, x
i {
xi } . x
i
( x
i = x
i ), p = c0 (
xi ) .
, p = c0 (
xi )
i . . i,
x
i 6 x
i , c0 (
xi ) p = c0 (
xi ).
p i x
i
0
vi (xi ) = i p x
i . x
i 6 x
i .
, x
i > x
i , x
i > x
i . , i
p = c0 (
xi ) 21 .
, , , vi0 (xi )/i ,
,
.
.
, ,
, . . i = vi0 (
x), :
x
i = x
, . . x
( )
.
, . . , .
21

, r = c(x) (
vi (r) = vi (c1 (r)) ). .
, c(
xi ) . ,
,
(
p
xi = c0 (
xi )
xi ,
, c(
xi ) ).
11.6.
421
)),
(
xi , x
.
1
, , , . . i = m
,
m .
x
i ,
vi0 (
xi ) =
1 0
c (
xi ).
m
, ( )
x
,
1 X 0
1
vi (
x) = c0 (
x).
m iI
m
, x
i ,
.
vi (x), x
. ( ) , x
>x
i .
x
6x
i ,
1 0
1 X 0
1
c (
x) =
v (
x) > vi0 (
x) > vi0 (
xi ) = c0 (
xi ).
m
m iI i
m
, x
, x
<x
i . x
>
x
i ,
1 0
1
1 X 0
xi ) = c0 (
c (
x) =
vi (
x) < vi0 (
x) 6 vi0 (
xi ).
m
m iI
m
56 (( 54 55)):
,
vi (xi ) = 2i ln xi c(y) = y 2 ,
x
i = mi x
= m
,
= iI i /m. x
>x
i ,

> i .
, , i = i, m .
= i = i =
m+1
,
2
.
i = i2 ,
(m + 1)2
(m + 1)(2m + 1)
=
i = (i )2 =
.
6
4

> i m > 1, x
>x
i .
>x
i . < 0
i = exp(i), > 0
> i x

< i x
<x
i .
4
11.7.
11.7
422
:
()
( ).
.
() .
` .
Zi ( , . . ), zi Zi ,
G(z1 , . . . , zm ) . x(1) X (1)
,
x(1) = G(z1 , . . . , zm ).
` , , . , ,

ik (xk ).
,
(1)
ui (x(1) , xi ) max
(xi ,zi )
X
kK1
ik (xk )pk xk +
pk xik + i (z1 , . . . , zm )6i ,
(11.6)
kK2
x(1) = G(z1 , . . . , zm ),
xi Xi , zi Zi .
i (z1 , . . . , zm ) . , , ,
22 .
80:
G(z1 , . . . , zm )
, y
, z
),
(
p, x
???list # (
x, y) ;
i zi
# x

(11.6) p
i +
i = p
y
j + Si ;
ij p
jJ
j (11.3)
# y
;
p
22
. , ,
z .
11.7.
423
# :
X
iI
Si =
i (z1 , . . . , zm ).
iI
, . zi u
i (). ,
.
,
zi R+ ,
, - G(z1 , . . . , zm ),
, , ,
:
G(
z , . . . , z) = z.
, :
P
V1) : G(z) = iI zi /m,
V2) : G(z) = mini zi ,
V3) : G(z) = maxi zi ,
V4) : G(z) = med(z1 , . . . , zm ), med()
z1 , . . . , zm , m , . , ,
.
, i (z) = 0 z ,
. , V1 zi = 0,
(, ) zi = mxi , xi
.
11.7.1
/ 514. u1 = G + x1 u2 = 2 G + x2 , G
xi . 2 .
, 1 .
(A) , ( , ). .
(B) , G = min(g1 , g2 ),
gi > 0 i- .
.
(C) -? .
/ 515. u1 = ln G + x1 u2 = 2 ln G + x2 , G
xi .
. , 1 .
(A) , ( , ). .
(B) , M = max(g1 , g2 ),
gi > 0 i- .
.
(C) -? .
11.8.
11.8
424
??

.
, , , ,
. .
,
, . ,
, . , ,
x, , , c(x) , px ,
p.

, , .

(0) i (x) P
x ( iI i (x) = 1 x X ).
(1) i () i .
i i () : X 7 R.
i ()
, . .
i (x) = vi (x) i (x)c(x),
, , .
;
, .
, , i vi (x) i (x)c(x).
(2) , :
X
x
argmax
i (x),
x
iI
, i- :
V(i) = max
x
j (x).
j6=i
(3) , , i ():
i = V(i)
j (
x).
j6=i
, . .
11.8.
425
i-

vi (
x) i (
x)c(
x) i .
, , i ().
x
i , . ,
i () , . , ,
:
, .
, . , , , . -, P
i (), argmaxx iI i (x), V(i) ,
,
. -, x
( ),
.
,
.
, ,
.
1. , ,
2. i (). , , i , , .
, , x R+ , , , [0, M ], i (0) = 0 i.
P
3. x
argmaxx iI i (x) , , , ,
x
= G({i ()}i ),
X
G({i ()}i ) argmax
i (x).
x
iI
i- x
=
G({i ()}i ).
122:

i (x) = vi (x) i (x)c(x)
, .
: x
, , , . . i (x) = vi (x) i (x)c(x), x

11.8.
426
, ,
i () i .

vi (
x) i (
x)c(
x) V(i) +
j (
x),
j6=i

vi (
x) i (
x)c(
x) V(i) +
j (
x).
j6=i
, V(i) i .
, x
, x
i (
x) +
X
j6=i
j (
x) > i (x) +
j (x),
j6=i
i (x) = vi (x) i (x)c(x), , x = x

.
, .
, ,

. ,
. , (
)
.
123:
, . .
i (x) = vi (x) i (x)c(x).
, , -, W (y) =
P
iI vi (y) c(y).
. , P
, W (y) = iI i (y).
, , . , ,
,
. , , . ( , ,
,
.)
, , , .
.
124:
3 ;
11.8.
427
3 , ;
3
v 0 (
x)
i = P i 0
,
x)
jI vj (
x
- ;
3 , . .
i (x) = vi (x) i c(x).
.
: ,
vi0 (
x)
0 x) c(x),
v
jI j (
i (x) = vi (x) P
x = x
. i (x) x = x
:
vi0 (
x)
c0 (
x) = 0.
0 (
v
x
)
jI j
0i (
x) = vi0 (
x) P
i () , c() ,
, , ,
. , x = x

,
x
argmax i (x).
x
,
x
argmax
x
i (x).
iI
, , x
argmaxx
23 i (
x) = i (
x),
V(i) =
j (
x) =
j6=i
iI
i (x) -
j (
x).
j6=i
, i = 0 i.
,
, ,
.
125:
I ;
I ;
I , . .
i (x) = vi (x) i c(x);
I x
,
x
int X (1) ;
23
11.8.
428
I .

vi0 (
x)
0 x) .
v
jI j (
i = P
: ,
max
x
j (x) =
j6=i
j (
x) i.
j6=i
,
X
0j (
x) = 0 i.
j6=i
, , x

x
argmax
x
i (x)
iI
,
X
0j (
x) = 0.
jI
,
0i (
x) = 0 i.
. .
vi0 (
x) = i c0 (
x) i
vi0 (
x)
i.
0
c (
x)
i =
,
vi0 (
x)
0 x) i.
jI vj (
i = P
, , ,
.
, , , t- .

, .
t- ,
list??? , x , tc(x) ;
t 1 t . ,
i /t. x

i (x) = vi (x) i (x)c(x)
11.8.
429
57:

vi (x) = 2i ln x, c(y) = y 2 ,
, . . i = 1/m.
i-
vi (x) c(x)/m = 2i ln x x2 /m.
,

x
= argmax
i (x) = argmax
iI
(2i ln x x2 /m),
iI
x
= argmax 2
i ln x x
sX
iI
i =
m
= y.
iI
V(i) = max
j (x) = max 2
j6=i
j ln x
j6=i
m 1 2
x ,
m
V(i)
m X X
=
j ln
j
j =
m 1 j6=i
j6=i
j6=i
X
m
i
= (m
i ) ln m
m1

(m
i ),
j (
x) =
j6=i
j ln
j6=i
X
iI
m1X
i =
m iI
= (m
i ) ln(m
) (m 1)
,
i-
i = V(i)
j (
x) =
j6=i
= (m
i )(ln(m i /
) ln(m 1)) + i
.
, ,
. t- mt ,
i t, i , i-
, . . it = i . t-
c[t] (y) = tc(y) = ty 2 .
,
it (x) = vit (x) c[t] (x)/(mt) = 2i ln x x2 /m.
11.8.
430
XX
t
it (x) =
XX
t
iI
(2i ln x x2 /m) = t 2
iI
i ln x x2 =
iI
2
= 2tm
ln x tx .
x
[t] = argmax
XX
t
it (x) =
m
,
iI
, . , is
V(is)
X X
X
= max
jt (x)
is (x) =
x
t jI???
iI
tm 1 2
x =
= max 2 (tm
i ) ln x
x
m

tm
i
(tm
i ),
= (tm
i ) ln m
tm 1

XX
t
jt (
x)
is (
x) =
iI
iI
= (tm
i ) ln(m
) (tm 1)
,

is = V(is)
XX
t
jt (
x) +
iI
is (
x) =
iI
= (tm
i )(ln(1 i /(
tm)) ln(1 1/tm)) + i
.
t i 0. ,
n ln(1 + 1/n) 1 n .
4
, x , 0 1 i .
, vi (0) = 0 i I c(0) = 0. vi = vi (1)vi (0) = vi (1)
, i
, c = c(1) .
i- x = 1
vi (1) i c(1) = vi i c,
x = 0 (vi (0) i c(0) = 0).
i i (1) (, i (0) = 0).
P
P
y = 1,
i (1) >
(0), . .
iI
P
P
P iI i
= 0, iI i < 0. , , iI i = 0, iI i > 0, y
, . ,
y = 1.
y = 1, i- y = 0, V(i) = 0
X
X
X
X
i =
j (0)
j (1) = V(i)
j =
j .
j6=i
j6=i
j6=i
j6=i
11.8.
431
y = 0, i- y = 1,
V(i) =
j (1) =
j6=i
j > 0.
j6=i

i =
j (1)
j6=i
j (0) = V(i) 0 =
j6=i
j .
j6=i
i-
vi i c i ,
0 .
11.1 s- .
11.1.
iI
iI
iI
iI
j > 0
j > 0
j < 0
>0
x
= 0, x(s) = 1
j < 0
<0
x
= 0, x(s) = 0
i6=s i
i6=s i
i6=s i
i6=s i
>0
<0
(s )
s-
vs s c
x
= 1, x(s) = 1
x
= 1, x(s) = 0
i6=s i
vs s c+
i6=s i
i6=s i
i6=s i
58 (( )):
6000 . , i = 1/3. ?? . .??
4
11.2. ???
,
i c
, vi

,
i = vi i c
, i
1
2
3
2000
2000
2000
1000
2000
5000
1000
0
3000
0
0
1000

, .
126:
(x
, 0 1). ,
P
, iI vi 6= c. i ,
t , t > t, .
11.8.
432
: s . :
X
X
i > 0
i < 0
(1)
iI
i6=s
(2)
i < 0
iI
i > 0,
i6=s
i = vi i c. ( ).
P
P
P
iI i = iI vi c 6= 0, , iI i > 0 s P
. ts , ts iI i s > 0. ,
i t > ts .
, .

, iI vi 6= c , . , s,
P
P
iI i = 0 i6=s i < 0 ( ) ,
s .
.
,
c(x) px. ,
, ,
.
(, ).
G({i ()}i ) ,
, ,
:
P
vi (x) i (x)px i (1 (), . . . , m ())

x = G(1 (), . . . , m ()),
max
{xi ,i ()}
(11.7)
i () i .
, , (11.6). , , ,
.
:
py c(y) max
y
(11.8)
G({i ()}i ).
.
81:
(
p, x
, y ,
{i ()}i ),
# x
= y ;
# x
i ()
(11.7);
# y
(11.8) p.
11.8.
433
.
127:
, , .
x
- , i (x) = vi (x) i (x)px.
(c0 (
x), x
, x
, {i ()}i )
.
: , x
i () . ,
122. , c0 (y) , x
p = c0 (
x).

. ,
. , i () i
, ,
.
.
11.8.1
/ 516. , . . . . . . . . . . . . . . . . . . . . . . . . . . . . ,
1) - ;
2) - , ;
3) - ;
4) - , ;
5) - , ;
6) , .
7) .
/ 517. . . .
) ;
) ;
) , , ;
) .
/ 518. , (, , , , ) /
,
1) : . . .
2) : . . .
3) : . . .
4) - : . . .
/ 519. , . ( 3000 .) ( 1200 .).
.
:???////////
,
, . :
11.9.
434

, .

, .
A
B
C
500
900
2000
150
450
550
, , ?
. ? -?
11.9
/ 520. , y
. hi , y = h1 +
h2 + h3 . .
:
ui = h2i + iy.
() .
() -
.
() .
/ 521. (x)
ui = (i + 1 x)2 + zi , c(y) = 12y .
1) -.
2) .
3) .
4) , .
/ 522. (x)
ui = (i + 4 x)2 + zi , c(y) = 12y .
1) -.
2) .
3) , -
.
/ 523. X /, 4 /,
.
ui (X, zi ) = (i + 2) ln X + zi .
(1) -.
(2) ,
:
- ;
- ;
- ;
11.9.
435
- 1/4, 2/3, 5/12.

.
/ 524.
( )
. .

1) - ;
2) - ,
;
3) - , -;
4) - , ( );
5) , .
6) , , .
/ 525.
( ). .
1) - ;
2) - ,
;
3) - , ;
4) - , ,
;
5) , .
6) , , .
/ 526. [Laffont] m :
( 1). i
ui = ln x1 + 2 ln xi2 + zi , xi2 2- () , x1
. . 2
c2 (y2 ) = y22 .
1 () c1 (y1 ) = y1 (y1 > 0).
(1) . .
(2) t 2. ,
, 1.
(3) , . .
, . 2.
(4) 2- .
( ). ,
.
. , ( 4).
/ 527. [Laffont] ( )
11.9.
436
m ,
. i- ui = i (x1 +
xi2 ) + z , x1 1- () , xi2 i- 2- () , i , i. . 1 2
c1 (y1 ) = mz 2 /2 c2 (y2 ) = y2 (y2 > 0). , 2
. .
(1) .
(2) , i ( , i ), ,
y1 =
1 X
i .
m
,
Vi (i , y1 ). ,
.
(3) , , i = i
.
(4) , i 2 .
,
2. , , ,
m.
(5) 2, 2, .
3.
(6) 3 4 , :
i = i /
j .
, ( m ) .
12

. ,
.
, ,
, .
. ,
, .
, .
-. -, . 8 (. 62
. 289). , , ,
. , ,
, , .
, (.
. 11 73 . 389):
, ( , ) ,
, .
12.1

1 . ,
,
, ,
(-)2 .
C , . , , 3 , . . .
. , ,
.
1
F. Y. Edgeworth: Mathematical Psychics: An Essay on the Application of Mathematics to the Moral Sciences,
London: C. Kegan Paul & Co., 1881.
2
, ,
,
, .
3
P. A. Samuelson: Foundations of Economic Analysis, Harvard University Press, 1947, p. 238.
437
12.1.
438
, (. . , -),
.

, , , , , . , ,
4 .
( ), , . , ,
,
.
. , (
). .
,
,
( ) .

. -,
, . -, ,
,
.
12.1.1
??
. c (, ), v ( ). , ( ).
, , ,
. .
. ( ),
.
, , c , v
. , ,
( ), .
c v ,
. x(c, v) = 1, x(c, v) = 0 ,
t(c, v) 5 . , ,
4
. R. H. Coase: Notes on the Problem of Social Cost, in The Firm, the Market and the Law, University of
Chicago Press, 1988: 157186 (. . . : , . ,
, .: , 1993).
5
( ),
. t(c, v) , , , , .
, .
12.1.
439
. , , , ,
, .
,
.
uv (c, v) = vx(c, v) t(c, v),
()
uc (c, v) = t(c, v) cx(c, v).
, . , ,
, .
, ,
.
Uv (v) v , :
Uv (v) = E[vx(
c, v) t(
c, v)] = v E x(
c, v) E t(
c, v),
( )
v , Uv (v) > 0. , c

Uc (c) = E[t(c, v) cx(c, v)] = E t(c, v) c E x(c, v).
c , Uc (c) > 0.
( , , ) . , , , ,
, , c v . ,
- , x(c, v) c v ,
:
(v c)x max .
x
v > c, x
= 1, v < c, x
= 0 (
v = c ). . . , v c, ,
, , . ,
-.
6 ( ) - , , ,
() , c = c v = v
, , ,
( , v > c , v < c).
, , , c, ,
, G() [c1 , c2 ]
g(), , v , , F (), [v1 , v2 ] f ().
6
R. B. Myerson and M. A. Satterthwaite: Efficient Mechanisms for Bilateral Trading, Journal of Economic
Theory 29 (1983): 265281.
12.1.
440
, . . v1 6 c2 c1 6 v2 . , , c v (. . G()
F (), ).
. x
(c, v) , t(c, v) .
v
Uv (v) = v E x
(
c, v) E t(
c, v),
c
Uc (c) = E t(c, v) c E x
(c, v).
,
, , v c
, (, ), . , v ,
v
Uv (v) = v E x
(
c, v) E t(
c, v),
c, c,
Uc(c) = E t(c, v) c E x
(c, v).
, . , ,
, .
, , , , ,
. ,
7 . . . Uv (v) v = v ,
Uc(c) c = c.
.
, , ,
:
- - ,
- ,
- .
.
12.1.2
( v c) . ,
, p, ,
. v , 8 .
, -.
7
, , ,
, () . .
8
, v , > 0 .
12.1.
441
, . : , v . , v
[v1 , v2 ], F () f (). , , ,
, , , . .
v1 < c < v2 .
, ,
, .
p v > p. , ,
, 1 F (p). p ,
:
(p c)(1 F (p)) max .
p
, p, :
1 F (p) = (p c)f (p).
, , 9
f (p)
.
1 F (p)
p.
, p > c. , ,
. , c < v < p.
p = c, , .
, .
D(p) = 1 F (p). , .
, ,
, . ,
p > c. , p = c. .
, . ,
.
, , , , . , c, c,
> 1, . . : v =
c (
, ,
). : , .
c, (,
), -.
,
9
(. hazard rate).
12.1.
442
. , ,
, , ,
( ).
, ; , -, .
.
12.1.3
. v c
, v c. -
.
, , v , c. , :
,
. ,
( ). .
. . , .
, , ,
( ), .
, , ,
.
, c0 v 0 , , , , c v . c0 6 v 0 ,
. ,

x(c0 , v 0 ) =
1,
c0 6 v 0 ,
0, c0 > v 0 .
, , , , :
t(c0 , v 0 ) = E[
cx(
c, v 0 ) + vx(c0 , v)] + A,
A .
, , ,
, () . , , c, c0 :
Uc (c0 ) = E t(c0 , v0 ) c E x(c0 , v0 ).
v0 , . , , v 0 (v), v ,
12.1.
443
v0 = v 0 (
v ). , v0 c , Uc (c0 ) 6 Uc (c) c0 . Uc (c0 ) t(c0 , v 0 )
Uc (c0 ) = E[
cx(
c, v0 ) + v0 x(c0 , v0 )] + A c E x(c0 , v0 ) =
= E[
cx(
c, v0 )] + E[(
v 0 c)x(c0 , v0 )] + A.
Uc (c) Uc (c0 ) = E[(

v 0 c)(x(c, v0 ) x(c0 , v0 ))].
c, c0 v , ,
(v c)(x(c, v) x(c0 , v)),

, .
.
Uc (c0 ) 6 Uc (c) c0 , . . .
, ,
Uv (v 0 ) = v E x(
c0 , v 0 ) E t(
c0 , v 0 ),
Uv (v 0 ) 6 Uv (v) v 0 , . . .
, . ,
x(c0 , v 0 ) , c0 v 0 .
, A ,
. , A ,
.
,
.
, ,
.
.
,
10 11 .
, , ,
(
)
. , , ,
.
10
, . .
J. Rawls: A Theory of Justice, Harvard University Press, 1971 (. .: . : ,
: , 1995).
11
. J. M. Buchanan and G. Tullock: The Calculus of Consent: Logical Foundations of Constitutional Democracy, University of Michigan Press, 1962; J. M. Buchanan and G. Brennan: The Reason of Rules: Constitutional
Political Economy, Cambridge University Press, 1985.
12.1.
12.1.4
444
/ 528. .
c1 c2 1
, v1 v2
1 , c1 < v1 < c2 < v2 , 0 < < 1, 0 < < 1.
(1) ( ,
) ?
(2) .
/ 529. c1 = 0, c2 = 16, v1 = 8 v2 = 24.
( = 0,5 = 0,5).
( ).
: (L) (H ).
??.
L
H
x = 1, t = 0
x = 0, t = 7
x = 1, t = 19
x = 1, t = 10
(1) .
(2) , , .
(3) ,
(. .
, , ,
).
.
(4) , .
(5) ,
.
/ 530. 528 ,
, () , () .
/ 531. , .
.
, c0 v 0 , ,
, , c v . c0 6 v 0 ,
, max{c0 , v1 },
min{c2 , v 0 }. c0 > v 0 , .
(1) , . (: .)
(2)* ,
.
(3) (2) , .
12.2.
445
(4) ?
12.2
(, ) ,
. .
, , , .
. .
12 ,
. .
, , .
12.2.1
, v(x1 , x2 ) + z c(y1 , y2 ).
1 2, .
, . ,
1 2 (1 + 2 = 1), .
p 1 2
v(1 x, 2 x) px max,
x>0
x = x1 + x2 , x1 =
1 x x2 = 2 x. v()

1
v
v
+ 2
= p.
x1
x2
, (p1 = p2 = p):
p(y1 + y2 ) c(y1 , y2 )
max
y1 >0,??y2 >0

c
c
=p
= p.
y1
y2
p,
1 ,
2 , x
1 , x
2
y1 , y2 , :
12
G. A. Akerlof: The Market for Lemons: Quality Uncertainty and the Market Mechanism, Quarterly Journal
of Economics 84 (1970): 488500.
12.2.
446
1) x
1 x
2 p

1
2 .
2) y1 , y2 p.
3) , . . x
1 = y1 x
2 = y2 .
4)
1
2 , . . x
1 =
1 (
x1 + x
2 ) x
2 =
2 (
x1 + x
2 ).
, -
v
c
v
c
=
=
.
x1
y1 x2
y2
, -
c
v
c
v
=
=
=
.
x1
y1
x2
y2
, .
, , v(x1 , x2 ) = V (x1 + x2 ), V () . 2-
1-.
v
v
=V0
= V 0 .
x1
x2
> 1, v/x1 = v/x2 .
, .
- .
2- dx2 = dy2 > 0,
, . . dx1 = dy1 = dx2 .
:
dc =
c
c
dy1 +
dy2 = pdy1 + pdy2 = 0.
y1
y2
, 3- . 3-
(dz = 0).

du =
12.2.2
v
v
dx1 +
dx2 + dz = V 0 (dx2 ) + V 0 dx2 = ( 1)V 0 dx2 > 0.
x1
x2

. , 13 . , ,
c1 , c2 (c2 > c1 ). v1 >c1 ,
v2 >c2 , ,
. . , 1. ,
. p, p0 = v1 + (1 )v2 .
, c2 , , . p0 < c2 ,
, .
13
lemon .
12.2.
447
. 0 6=
. , . . : ,
, , , , , -,
() !
, , , . ,
. , .
, . :
( ).
. ,
.
.
, . , .
, .
. ,
. .
. , , , .
, , .

(, ),
, 1.
, n ,
s s (s > 0). ,
. , .
() s vs (, cs ). , 14 .
. . s , cs ,
s , vs .

, s p,
( )
vs p,

p cs .
- ,
. , xs ,
1, s , 0 15 .
14
, .
, xs [0, 1] . xs
.
15
12.2.
448

W =
n
X
n
X
s vs xs
s=1
s cs xs =
s=1
n
X
s (vs cs )xs .
(z)
s=1
, {xs } , xs = 0 vs < cs xs = 1 vs > cs .

, (, ),
( ) -.
, ps , , , .
s (xs = 1) cs 6 vs .

cs 6 ps 6 vs .
( cs > vs , s .)
, , , .
, ps = vs . , n
, ( cs 6 vs ;
, , ).
, , , . .
(), , -
:
,
E v(
s) > E c(
s)
. .
n
X
s vs >
n
X
s cs
s=1
s=1
(x = 1), , (x = 0). , . -, x
,
W =x
n
X
s=1
s vs x
n
X
s cs xs = x
s=1
n
X
s (vs cs ) = x E[v(
s) c(
s)].
s=1
( ),
p=
n
X
s vs .
s=1
, cs < vs s, ,
, - ( ) n .
, cs > vs , - .
.
, ,
.
, , ( )
. , , , , ,
s , cs . ,
12.2.
449
(. . p = cs ), .
,
. .
,
X
E(v(
s) | c(
s) 6 p) =
s vs
s:cs 6p
s .
s:cs 6p
cs ( , ),
m(p) ( cs 6 p).

m(p)
s vs
, m(p)
X
s=1
s .
s=1

Vm =
m
X
m
X
s vs
s=1
s .
s=1
, , , Vm .
,
p = Vm(p) .
, , m = m(p),
cm 6 Vm < cm+1 .
m(p) = n, . ,
. , ,
n
X
cn 6 Vn =
s vs .
s=1
, cs < vs s. .
. m = 1, V1 = v1 , V1 < c2 , ,
1- , c2 > V1 = v1 > c1 .
V1 > c2 .
Vm1 > cm m < n.
cm < Vm < cm+1 ,
Vm > cm+1 .
, cm < Vm . , cm 6 Vm1
cm < vm ,
m1
X
Vm =
s=1
s vs + m vm
m
X
s=1
m1
X
s =
s=1
s Vm1 + m vm
m
X
s > cm .
s=1
(cm < Vm < cm+1 ) , m

. , cm+1 6 Vm . , m 6 n 1, cn 6 Vn1 ,
m = n ( n ).
, ,
( cs vs )
.
12.2.
450
, . , (z). , ,
. ,
. - ,
, . . ,
s cs < vs cs > vs .
, cs < vs s,
, n , . .
cn 6 Vn =
n
X
s vs .
s=1
, , , . m(p)
m(p).
59:
100 (
), cs = 300 + s vs = 300 + b + s, b > 0
, .
, , ,
(m = 100),
: vs cs = b > 0.
.
(1) . , 100 , ps = vs . 100
, . . -.
/
. ,
.
(2) .
E c(
s) =
100
1 X
301 + + 400
301 + 400
cs =
=
= 350,5
100 s=1
100
2

E v(
s) =
100
1 X
301 + b + + 400 + b
301 + b + 400 + b
vs =
=
= 350,5 + b.
100 s=1
100
2
350,5 + b.
100 , . . -.
(3a) , ( ). , 100
1/100 ( ),
p = (301 + b + 400 + b)/2 = 350,5 + b.
12.2.
451
,
300 + s 6 350,5 + b.
m = [50,5 + b] . m
b, b > 40,5 100. b < 40,5 -.
, .
(3b) , ( ). , (m 1/m). , m ,

Vm =
m
1 X
301 + b + + 300 + m + b
vs =
=
m s=1
m
301 + b + 300 + m + b
m
= 300,5 +
+ b.
2
2

cm 6 Vm < cm+1
300 + m 6 300,5 +
m
+ b < 301 + m,
2
. .
m 6 1 + 2b < m + 2.
,
2b 1 < m 6 2b + 1.
p = Vm = 300,5 + m
2 + b.
b < 1/2 m = 1. b > 50
m = n, -. b [0,5, 50) ,
. b = 20
m = 40, m = 41, .
(3a) (3b), , ( ) , ,
, ,
b.
4
, V (s) c(s). s , ,
.
, ,
(. ).
vs cs ,
(, )
.
.
12.2.
452
, , s,
[s1 , s2 ], f () , ,
f (s) > 0 s (s1 , s2 ). , ()
s v(s) (, c(s)),
. ,
c() , c(s) < v(s) s.
c(s) , s,

V (s) = E(v(
s) | s 6 s) =
Z
f (t)dt.
v(t)f (t)dt
0
, s
c(
s) = V (
s),
, s = s2 . (
) c(s2 ) 6 V (s2 ).
p
p = V (
s).
c(s2 ) > V (s2 ), c(
s) = V (
s), c(s1 ) < V (s1 ) =
v(s1 ), c() V () . ,
. c(s2 ) 6 V (s2 ),
. , .
60:
, 59, s [1, 100],
c(s) = 300 + s, v(s) = 300 + b + s, b > 0.
.
Z s
Z s
1
1
s
V (s) =
v(t)
(300 + b + t)dt = 300,5 + b + .
dt =
s1
s1 1
2
1
s
s
300 + s = 300,5 + b + .
2
, s = 2b + 1 p = 301 + 2b. 2b + 1 < 100, . .
b < 49,5. b > 49,5
p = V (100) = 350,5 + b.
V 1 (p) (,
, ), , c1 (p) s
[c(1); c(100)] 100 p > c(100) .
4
(. . 12.1).

( ) . , ,
.
, . , , , ,
; , .
12.2.
453
p
p
420
460
s=100; p=410,5
v(s)
420
c(s)
380
V (s)
340
v(s)
380
V (s)
340
s=41; p=341
c(s)
s
300
300
0
20
40
60
80
100
20
40
60
80
100
. 12.1. b = 20 b = 60
( ) , ;
.
( ) , (. . ,
. .) , . ,
,
(
).
, (, , ).

, , .
12.2.3
,
.
. ,
, (y = 0, 1). ,
(x = 0, 1).
s . ,
, . p.
p, = p c(s),
c(s) , . , c()
. , c(s), , . . . , = 0.
, , . . p u = v(s) p. v()
. , .
, .
, .
, . 12.2.
.
. v(s) > p, , v(s) < p, .
12.2.
y=0

0
0
454
y=1
p
x=1
x=0

0 pc(s)
0 v(s)p
. 12.2.
, , ,
. ,
:
(p) =
0,
p c(s),
v(s) p.
v(s) > c(s), , p = v(s)

. v(s) < c(s),
p > v(s), , .
, s, v(s) > c(s),
p = v(s), , .
, , , , s,
.

. .
s , . 12.2.
( ). ,
, , . . ,
. , , .
, , :
: s / , ,
p.
: p.
: , p, , . ( .)
, p
E u = E(v(
s) px) max .
x=0,1
12.2.
455
, ,
.
,
, , , .
, . s0 p0 , s00
p00 , p0 > p00 . p0 , s00 p0 , p00 .
, . . .
p(s) = p s, .
/ p. c(s) > p, , c(s) < p, .
, ,
, . . [a; b]. ,
, ,
[0, 1], . . s U [0, 1].
, ,
, , .
,
.
1. , ,
.
,
( ) ,
, . .
E u = E(v(
s) px) > 0.
, , , ,
, . .
Z
p = E v(
s) =
v(s)ds.
0
p > c(s) s,
p > c(1), c() (
, . . , p = c(s)).
, ,
Z
0
v(s)ds > c(1).
2. , , .
: (
p, s) ,
s > s, p = p, . ( :
s p, ,
.)
, , s 6 c1 (
p).
p = p = c(
s), ,
s > s ( ). s = c1 (
p).
p = p = c(
s), ,
s > s ( ). ( ), s U [0, s].
12.2.
456
, ,
p 6= p, . , ,
p 6= p
s [0, s], . . p 6= p s U [0, s].
: , . (
, s U [0, s].
1/
s .) ,
E(u | s 6 s) = E(v(
s)x px | s 6 s) =
1
v(s) ds x px = (V (
s) p)x,
s
1 s
v(t)dt.
V (s) =
s 0
, .
, , ,
, . . ,
Z
E(u(1) | s 6 s) = V (
s) p > 0.
. .
p = V (
s).
, p s:
p = c(
s),
p = V (
s).
, ,
(
p, s), 0 < s < 1.
3. , , , .
, v(0),
v() . , v(0), .
, v(0). ,
, , , s = 0 ,
v(0). , , v(0) < c(0).
, v(0) < c(0) , ,
. , ,
, .
, s U [0, s], s
p = V (
s),
Z
V (1) =
0
v(s)ds 6 p,
s U [0, 1] .
,
.
, , v() c() ,
v(0) < c(0),
V (1) > c(1).
:
, .
12.2.
12.2.4
457
/ 532. ,
.
/ 533. .
1, 3 f , 2, 5
8 . .
f , ,
.
/ 534. .
$2000, $2300, $2600, $2000 + , $2300 + , $2600 + .
1/3, 1/3, 1/3. , () , () , ()
?
/ 535. , 5 .
( ). .
??
()

1
1
1
1
2
2
2
3
3
3
3
5
4
4
4
7
5
5
5
9
j ,
?
/ 536. . s
) [0, 50],
) [40, 50].
(1) ( ) s, s ( > 1).
(
)? ?
(2) , , s+ ( > 0).
/ 537. , 1 s
, - (s , ).
10 . ., 0 . .
s. s [0, 1]. : c(s) =
(s + 1) . . .
/ 538. , , : L,
M H . .
100
200
400
300
500
600
) , ,
, , .
12.2.
458
) , ,
, , .
) ,
(, - , ,
).
/ 539. . q [0, 30].
( ) 6 + 0,2q q 6 15 3 + 0,4q q > 15,
5 + 0,6q . ?
/ 540. , , q
[0, 20], 150 + q 2 ,
100 + 30q .
/ 541. . s [s1 , s2 ]. (
) c(s), v(s).
(),
> 0.
(1) s1 = 10, s2 = 10, c(s) = 2s, v(s) = 3s. .
(2) s2 = 200, c(s) = 3s, v(s) = 5s, = 100.
s1 .
(3) s1 = 3, s2 = 50, c(s) = 4s , v(s) = 5s, = 20.
> 0.
(4) s1 = 1, s2 = 10, c(s) = 3s, v(s) = 4s + , = 3.
> 0.
/ 542. , .

v1 = 10 . .
c1 = 9 . .
10
v2 = 30 . .
c2 = 21 . .
10
v3 = 50 . .
c3 = 45 . .
10
() ? ?
() , ,
( ).
, .
( . ., 0 < < 9).
() ?
/ 543. [Tirole] , s, [s1 , s2 ].
s s, s, . ,
[1 , 2 ]. (. .
se , se > p.
(i) .
(ii) .
, ?
(iii) . -?
12.A.
459
(iv) , , .
(v) . s0
. ( )?
/ 544. ,
( ). ,
v(s) > c(s) s, , .
12.A
??
:
P c (c) = E t(c, v) =
v2
t(c, v)f (v)dv
v1
:
P v (v) = E t(
c, v) =
c2
t(c, v)g(c)dc,
c1
:
v2
X (c) = E x
(c, v) =
x
(c, v)f (v)dv
v1
:
X v (v) = E x
(
c, v) =
c2
x
(c, v)g(c)dc.
c1

Uv (v) = vX v (v) P v (v),
Uc(c) = P c (c) cX c (c).

, v v , :
Uv (v) > Uv (
v ) Uv (
v ) > Uv (v).
,
Uv (v) Uv (v) > Uv (v) Uv (
v ) > Uv (
v ) Uv (
v)
(v v)X v (v) > Uv (v) Uv (

v ) > (v v)X v (
v ).
( v v ), ,
dUv (v)
= X v (v).
dv
12.A.
, 16 ,
Uv (v) = Uv1 (v1 ) +
460
X v (z)dz.
v1
X v (z) , v1 , :
Uv1 (v1 ) > 0 Uv (v) > 0 v.
, ,
dUc (c)
= X c (c),
dc
c2
Uc (c) = Uc2 (c2 ) +
X c (z)dz.
, c2 , .
Uc2 (c2 ) > 0 Uc (c) > 0 c.
,
Uv (v) = vX v (v) P v (v),
Uc (c) = P c (c) cX c (c).
P v (v) = vX v (v) Uv1 (v1 )
P c (c) = cX c (c) + Uc2 (c2 ) +
X v (z)dz
v1
c2
X c (z)dz.
, , . . x
(c, v) = 1 v > c x
(c, v) = 0
v < c.
, :
E[min{c2 , v}
x(
c, v)] 6 E t(
c, v) 6 E[max{
c, v1 }
x(
c, v)].
, . . E t(
c, v) 6 E[max{
c, v1 }
x(
c, v)].
Uv1 (v1 ) > 0,
P v (v) 6 vX v (v)
X v (v) =
v
vX (v)
R c2
c1
X v (z)dz.
v1
x
(c, v)g(c)dc, ,
c2
x
(c, v)g(c)dc
X (z)dz = v
v1
c1
c2
c2
=
c1
[v
x(c, v)
c2
Z 1c2 Z1 v
x
(c, z)dzg(c)dc =
c1
x
(c, z)g(c)dcdz =
v
v
x(c, v)g(c)dc
c1
v
v1
x
(c, z)dz]g(c)dc =
v1
c2
max{c, v1 }
x(c, v)g(c)dc.
c1
16
, Xv (v) . , .
12.A.
461
, -
v
x(c, v)
x
(c, z)dz = max{c, v1 }
x(c, v).
v1
:
c = v , max{c, v1 } = v .
c > v , x
(c, z) = 0 z 6 v , ,
.
c < v c 6 v1 , x
(c, z) = 1 z (v1 , v]
Z
x
(c, z)dz = v v1 = (v v1 )
x(c, v).
v1
c < v c > v1 , x
(c, z) = 1 z (c, v]
Z
x
(c, z)dz = v c = (v c)
x(c, v).
v1
,
P v (v) 6
c2
max{c, v1 }
x(c, v)g(c)dc.
c1
v , :
v2
E t(
c, v) = E P (
v) =
v1
v2
v1
P v (v)f (v)dv 6
c2
max{c, v1 }
x(c, v)g(c)dcf (v)dv
c1
E t(
c, v) 6 E[max{
c, v1 }
x(
c, v)].
. Uc2 (c2 ) > 0
c
P (c) > cX (c) +
P c (c) >
c2
X c (z)dz
v2
min{c2 , v}
x(c, v)f (v)dv.
v1
:
Z
c2
E t(
c, v) = E P (
c) =
c1
v2
>
P c (c)g(c)dc >
Z
c2
min{c2 , v}
x(c, v)g(c)dcf (v)dv
v1
c1
E t(
c, v) > E[min{c2 , v}
x(
c, v)].

E[min{c2 , v}
x(
c, v)] 6 E t(
c, v) 6 E[max{
c, v1 }
x(
c, v)].
v [v1 , v2 ] c [c1 , c2 ],
v > c, min{c2 , v} > max{c, v1 }, v1 < c2 . ,
12.A.
462
c1 < v2 , , v > c, . . , x
(
c, v) = 1, .
E[max{
c, v1 }
x(
c, v)] < E[min{c2 , v}
x(
c, v)].
, , : ,
.
, , ,
, . , ,
, .
, .
: , , , .
. , (
c, v), . (. .,
. , .)
, ,
, . . tc (c, v) tv (c, v), ,
,
E tc (
c, v) > E[min{c2 , v}
x(
c, v)] > E[max{
c, v1 }
x(
c, v)] > E tv (
c, v).
, -
.
13
(. 5.5), : (
) -
( , , . .) . , ,
. ,
,
( ) ,
. , ,
( ), .
(. . 6). , , . . , ,
.
, .
, .
, .
13.1
,
. .
, ,
. ,
, , ,
. -
p. ( ), . ,
. . , D(p). ,
, . . D(p) .
, -
c(y). , 1 . , , :
(p) = pD(p) c(D(p)) max .
p
, , .
, .
463
13.1.
464
p
x

pxc(x)
v(x)px
. 13.1.
pM y M = D(pM ) .
, . . ,
.
,
, .
i = 1, . . . , m
ui (xi , zi ) = vi (xi ) + zi , xi > 0 , , zi
, , , vi (xi )
xi . p,

:
vi (xi ) pxi max .
xi
,
, m u(x, z) = v(x) + z . (
v() vi () . 6.)
, m .

. , p,
() x > 0.
px c(x),
v(x) px. . 13.1 .
,
. p(y) = D1 (y) . ,
2 y > 0 (. .
[0, )). y M :
(y) = p(y)y c(y) max .
y>0
2
, , p(y) y = 0 , , ,
. , p(y) = 1/ y .
, ,
.
13.1.
13.1.1
465
, y > 0. (y)
0 (y) = p(y) + p0 (y)y c0 (y).
y M , ,
0 (y M ) = p(y M ) + p0 (y M )y M c0 (y M ) 6 0,
, (y M > 0),
, . .
p(y M ) + y M p0 (y M ) = c0 (y M ).
, p(0) > c0 (0),
(y M > 0). , y M = 0,

0 (0) = p(0) c0 (0) 6 0,
p(0) > c0 (0). p(y) c0 (y) ,
p(0) > c0 (0) ,
( ). ,
, p(0) 6 c0 (0)
, ,
3 .
, , y M > 0.
, , ,
:
p(y M ) + y M p0 (y M ) = M R(y M ) = M C(y M ) = c0 (y M ).
, , -
, p(y), ,
.
.
4 M R(y).
, y . y
: (
y , p(
y )) ,
(
y , M R(
y )) (. . 13.2).
, y ,
y .
, .
(. 13.3).
M R(y) = p(y)+p0 (y)y , M C(y) = c0 (y)
.
3
. p(y) = v 0 (y) , p(y) c0 (y) = v 0 (y) c0 (y) = W 0 (y) .
4
. y .
13.1.
466
p(
y)
D
M R(
y)
MR
. 13.2.
p
pM
D
MC
MR
y
. 13.3.
61:
: p(y) = a by ,
c(y) = cy (a, b, c - ).
(y) = y(a by) cy = (a c)y by 2 .

yM =
ac
a+c
pM =
.
2b
2
,
.
:
p
(p) = D0 (p)
.
D(p)

(y) =
1 p(y)
.
p0 (y) y
, , ,
|(y)| = (y) =
1
p0 (y)
p(y)
.
y
13.1.
467
,
"
1
p(y ) 1
= c0 (y M )
|(y M )|
M
, (c0 (y) > 0) , , . .

|(y M )| > 1.
:
p(y M ) c0 (y M )
1
=
.
M
p(y )
|(y M )|
. 5 . -
. ,
,
( y M ).
.
, .
p() c() , y M ,
:
2p0 (y M ) + y M p00 (y M ) c00 (y M ) 6 0.

M R0 (y M ) 6 M C 0 (y M ).
,
y M . ,
. , , . .
2p0 (y M ) + y M p00 (y M ) c00 (y M ) < 0.
,
y M .
, ,
, ,
. ,
, -,
. y ,
p = p(
y ) , . .
py c(y) max .
y>0
5
,
, A. P. Lerner: The Concept of Monopoly and the Measurement
of Monopoly Power, Review of Economic Studies 1 (1934): 157175.
13.1.
468
y p(
y ) c0 (
y) 6 0
( ). ( y > 0),
:
p(
y ) c0 (
y ) = 0.
128:
, () , y M ,
, y ,
, 6 .
(i) y M 6 y .
(ii) , , , y M > 0
p0 (y M ) < 0, y M < y .
: , y M .
p(y M )y M c(y M ) > p(
y )
y c(
y ).
, y -
p(
y ).
p(
y )
y c(
y ) > p(
y )y M c(y M ).
,
p(y M )y M > p(
y )y M .
y M > 0 ( y M = 0 ). p(y M ) > p(
y ), , , ,
y M 6 y .
. y M > 0, , . p0 (y M ) < 0,
:
p(y M ) c0 (y M ) = y M p0 (y M ) > 0,
y , , p(
y ) c0 (
y ) 6 0. ,
M
M
y y , , y < y .

, ,
(. . p0 (y M ) < 0 ), , . 13.4, p(y) = (y 1)3 + 1 c(y) = y 2 /2.
y = 1, .
, ,
, .
6
, y , .
13.1.
469
MC
D
MR
. 13.4. - -
13.1.2
.
.
.
129:
c1 () c2 () , c2 (y) c1 (y)
[0, ), 7 y1M > 0 c1 (),
y2M > 0 c2 (). y1M > y2M .
, , p(), c1 () c2 () , c01 (y) <
c02 (y) y > 0. y1M = y2M = 0, y1M > y2M .
: y1M y2M
:
p(y1M )y1M c1 (y1M ) > p(y2M )y2M c1 (y2M ),
p(y2M )y2M c2 (y2M ) > p(y1M )y1M c2 (y1M ).
,
c2 (y1M ) c1 (y1M ) > c2 (y2M ) c1 (y2M ).
c2 (y) c1 (y) : y1M > y2M .
( ) y1M y2M y1M = y2M > 0. (
.)

, (M C1 M C2 , . . 13.5).

.
(c0 (y) = c)
:
y M p0 (y M ) + p(y M ) = c.
7
, .
, c1 () , ,
c2 () .
13.1.
p
470
MR
pM2
pM1
M C2 D
M C1
M
y 1 y2
. 13.5.
, , y M = y(c).
p(y) y(c), c
y(c)p0 (y(c)) + p(y(c)) = c.

2p0 (y(c))y 0 (c) + y(c)p00 (y(c))y 0 (c) = 1,
y 0 (c) =
1
.
2p0 (y(c)) + y(c)p00 (y(c))
, (
) . , y(c) .
.
dp
1
= p0 (y(c))y 0 (c) =
> 0.
dc
2 + y(c)p00 (y(c))/p0 (y(c))
, .
( ).
. ,
t
t/2. < 0
(. ., y(p) = ap ) t||/(1 + ||).
( .)
,
, .
13.1.3
,
,
W =
m
X
i=1
vi (xi ) c(y)
13.1.
471
(. . 6). , ,
- . m
,
/ :
W (y) = v(y) c(y).
, - . ,
, .
128.
130:
p(y)
, y M , , y > 0
- , 8
(i) y M 6 y .
(ii) , , p0 (y M ) <
0 9 , y M < y .
: v(y) + z
. p(y) ,
v(y M ) p(y M )y M > v(
y ) p(y M )
y.
,
W (
y ) = v(
y ) c(
y ) > v(y M ) c(y M ) = W (y M ).
:
p(y M )
y c(
y ) > p(y M )y M c(y M ).
y M ,
p(y M )y M c(y M ) > p(
y )
y c(
y ).
,
p(y M )
y > p(
y )
y.
, y > 0, p(y) , y M 6 y .
. , . . y M = y .
y M > 0 :
p(y M ) + p0 (y M )y M c0 (y M ) = 0,
p(y M ) c0 (y M ) > 0 ( ).
8
, .
.
9
, vi00 () .
13.1.
472
, p()
p(y) = v 0 (y) y > 0,
, , y M = y > 0,
v 0 (y M ) c0 (y M ) > 0.
v 0 (y M ) c0 (y M ) y M .
, W (y) y M . . , y M <
y .

, , , - ,
, 128.
( 2)
0
W (y M ) > 0, ,
, . .
W (y M ) < W (
y ).
, (DL > 0), :
DL = W (
y ) W (y M ) = v(
y ) c(
y ) [v(y M ) c(y M )] =
= [(v(
y ) p
y ) (v(y M ) py M )] + [(p
y c(
y )) (py M c(y M ))] =
= CS + P S,
CS , P S .
p
pM
DL
MC
MR
y
y
. 13.6.
,

Z
CS(y) =
[v (t) p(y)]dt =
[p(t) p(y)]dt + const
P S(y) =
0
[p(y) c0 (t)]dt + const.
13.1.
473
,
. ,
Z
W (y) =
[p(t) c0 (t)]dt + const.
,
, , , (y, 0).
:
Z
yM
DL =
[p(t) c0 (t)]dt.
, ,
() ,
(. . 13.6).10
62 (( 61)):

, . . p(y) = a by c0 (y) = c.

y =
ac
,
b
, ,
yM =
ac
,
2b
. . - .

Z
[(a bt) c]dt =
DL =
yM
(a c)2
.
8b
, () :
Z
CS(
y) =
[(a bt) (a b
y )]dt =
. 13.7.
10
(a c)2
.
2b
4
-, (J. Dupuit: De la Mesure de lUtilite des Travaux Publics, Annales des Ponts et Chaussees 8 (1844): 332375;
. . . : , . , . . (.), .: , 1993: 2866. .
: H. Hotelling: The General Welfare in Relation to Problems of Taxation and of Railway and Utility
Rates, Econometrica 6 (1938): 242269; . . . :
, .
, . . (.), .: , 1993: 142175.) (A. C. Harberger: The Measurement of Waste, American Economic Review 54 (1964): 5876).
13.1.
474
p
a
pM
DL
c
y
yM
. 13.7.
13.1.4
, (y > 0) ,
.
.
, , ( ), . , ,
y > 0,
( , ).
, , - ,
.
131:
:
, c(y), [0, ),
p(y) [0, ),
y > 0 , W (y) 6 W (
y ) y > y .
.
: , (y) < (
y ) y > y .
y p(y) ,
y ,
. , y
v(y) p(y)y > v(
y ) p(y)
y.
, , y > y p(
y ) > p(y),
p(
y )
y > p(y)
y.
, y > y v(
y ) c(
y ) > v(y) c(y).
, , y > y
(
y ) = p(
y )
y c(
y ) > (y) = p(y)y c(y).
13.1.
475
, y , y > y ,
y > 0 [0, y].
, (y) .

[0, y], y M ,
y > 0.

, - .
y . , ,
y .
, v 0 (y)c0 (y) = p(y)c0 (y).
, c(y) p(y) , p0 (y) < 0 [0, ), y > 0 ,
p(y) < c0 (y) y > y .
13.1.5
/ 545. D(p) = 10p3 , c(y) = 2y .

?
/ 546. (. . ?? . 13.2)
. ( 4.)
/ 547. ,
:
p1 (y) = a1 b1 y p2 (y) = a2 b2 y.
?
?
/ 548. , ,
:
1) p(y) = a by,
2) p(y) = ay b ,
3) p(y) = a by d ,
4) p(y) = a b ln(y),
( , .)
/ 549. ,
, t.
/ 550. 4 p.
1 + y/4. ,
1 + y/8?
/ 551. , , 548,
, , ,
.
/ 552. , , p0 () < 0, , . ,
y M y .
y M y , 548?
/ 553. , 548,
?
13.2.
476
/ 554. . ?
.
/ 555. , , p(y), , , , y M
-.
/ 556. .
?
: , , .
/ 557. D(p) = 4 p. 1) , , ,
2) . , .
2. , . ? .
, ,
.
/ 558. , , , , .
/ 559. , , :
y > 0 , W (y) 6 W (
y ) y > y
.
/ 560. , , :
y > 0 , p(y) < c0 (y) y > y
.
13.2
(. . 13.6) , , . . , ,
. , , , , .
, , .
- ,
y M
.
, ,
, . ,
. , .
, , .
13.2.
477
, (
).
:
,
,
.

. .
,
.
, ( ).
.
.

(1920)11 . .
,
, , 12 . , :
, . , , .
13.2.1
, , ,
. , ,
,
.
11
A. C. Pigou: The Economics of Welfare, London: Macmillan, 1932 (. . . . :
, .: , 1985).
,
, -
. , n ,
, , x , x ,
x , y , y . . ,
n ,
,
(. I, . 348).
, .
.
12
,
, .
13.2.
478
. ,
,
1) ;
2) ;
3) ??
13 .
, , .
m , ui (xi , zi ) = vi (xi ) + zi . ,
ui (xi , zi ) , vi0 (xi ) > 0. ( ) i . ,
c(), , , c0 (y) > 0.
, , xi , , , ti ,
. , xi ti ,
,
ui (xi , i ti ) < ui (0, i ),
. . , , xi , ti .
,
vi (xi ) ti > vi (0).
. , , vi (0) = 0.

vi (xi ) > ti .
, :
=
m
X
m
X
ti c xi max
i=1
ti ,xi >0
i=1
vi (xi ) > ti , i.
, :
ti = vi (xi ), i.
, :
=
m
X
i=1
vi (xi ) c
m
X
i=1
xi
max
x1 ,...,xm >0
, . , -.
13
, , .
.
13.2.
479
, (xi , ti ) 14 . , , , -,
, -, .
, : xi > 0 i, . .
15 .
:
vi0 (xi )
m
X
=c(
xi ), i.
i=1
, ,
vi0 (xi ) = vj0 (xj ) i, j.
ti :
ti = CSi (xi ) = vi (xi ) =
Z
0
xi
vi0 (x)dx, i.
, . 13.8 (xi , ti ) . () xi
P
, c(xi + j6=i xj ) vi (xi )
. .
)
)
vi0 (xi )
ti
X
c xi + xj
0
vi (xi )

X
c xi + xj
j6=i
j6=i
ti
xi
xi
xi
xi
. 13.8.
63:
i- ui (xi , zi ) = xi + zi
: c(x) = cx. , xi ,
1
c = p ,
2 xi

1
xi = 2 .
4c
ti
q
xi
1
1
= .
2
4c
2c
14
vi ()
, yi > 0 , vi (
yi ) c(
yi ) > vi (y) c(y) y > yi .
15
, vi0 (0) > c0 (0) i ,
: xi > 0 i .
13.2.
480
, , , , (1) vi (), (2)

, i- ,
, xi , ( ). , .
( ) ti ().
ti () x ti (x). ,
ti (xi ) = pxi ,
. ,
ti (xi ) = A + pxi ,
, .
, ti () ,
. xi , i = 1, . . . , n,
=
m
X
m
X
ti (xi ) c xi .
i=1
i=1
, , .
xi = 0 , ti (xi ), .
,
, . ,
:
vi (xi ) + zi max
xi >0
ti (xi ) + zi 6 i ,
xi > 0.

vi (xi ) ti (xi ) max .
xi >0
, , . ,
, , ,
, (xi = 0) ti (xi ) = 0.
, ,
(xi , ti ).
, ,
. , , ,
ti (xi ).
, i, .
, , (x , t ).
13.2.
481
,
x t. ( (take-it-otleave-it)). :
t ,
x 6 x ,
+, x > x .
t(x) =
,
x = x . . 13.9 .
t
v(x)
t(x)
. 13.9.
64 (( 63)):

1
,
4c2
t(x) = 2c
+, x > 2 .
4c
x6
.
: : A > 0 ( ) , (x) px, . .
t(x) = A + px.
, , ,
, . ,
( ).
,
p v 0 (x ), A () , (. . 13.10 ), . .
Z
A=
x(p )dp =
p
(v 0 (x) p)dx = v(x ) px .
,
x = x ( ) (. . 13.10 ).
13.2.
482
t(x)
v 0 (x)
v(x)
A+px
A
p
x
. 13.10.
65 (( 63)):

A=
1
p = c.
4c

t(x) =
+ cx,
x > 0,
0,
x = 0.
4c
.
x () , N , N x = x .
j - :
pj = v(jx) v((j 1)x).
x , N
j=1 pj ,
v(x ) v(0) = v(x ), , .

. 13.11. ,
t() (. . 13.11 ),
.
P
v 0 (x)
t(x)
p1
p2
p2
v(x)
)
p1
pN
x
x
x 2x
. 13.11.
13.2.
483
, N (x 0)
t(x) = v(x).
66 (( 63)):
N = 4.
1
1
1 1
x = xi = 2 =
.
4
4 4c
16c2
v(x) = x,
pj =
jx
(j 1)x, i = 1, . . . , 4.
. .
p1 = 1/4c, p2 = ( 2 1)/4c,
p3 = ( 3 2)/4c, p4 = (2 3)/4c.
, .
. ti () ,
vi (), vi () xi . ,
xi = xi , ,

. . 13.12.
ti (xi )
ti
vi (xi )

X
c xi + xj
j6=i
xi
xi
. 13.12.
, , ,
. ,
,
. , .
, , ,
, ,
. ,
, , ,
, .
? .
13.2.
484
1) (). , , .
xi , , , xi > xi ,
xi xi .
2) . .
, .
3) - , , , , .
, .
. ,
, , .
13.2.2
( )
, ( , , ,
).
, t(). ,
, t(xi ) = pxi . ,
, . , , ,
, .
, , , . ,
.
.
,
. , Low,
High16 . , Low , High,
. .
vl0 (x) < vh0 (x) x,
, vi (0) = 0 (i = l, h)
vl (x) < vh (x) x > 0.
:
k : (xj , tj ),
j = 1, . . . , k . , ,
( , ). ,
, .
16
, , , , .
13.2.
485
-, , ,
(k = 2). ( , .)
-, , , , ,
, , (xi , ti ) = (0,
0). , . . ( ),
, .
-, , :
(xl , tl )
(xh , th ).
Low, High.
, ,
,
.
Low
vl (xl ) tl > vl (xh ) th ,
High
vh (xh ) th > vh (xl ) tl .
. , , .
, . .
, ,
(xl , tl ), (xh , th ), .
xl < xh ,
tl ,
x 6 xl ,
t(x) = th ,
xl < x 6 xh ,
+, x > xh .
(. . 13.13), ,
, .
,
, c > 0.
(xi , ti ) = (xi , ti ),
xi ,
vi0 (xi ) = c,
ti .
. 13.13 Low, tl , A+B +C ,
High, th , A + B + C + D + E + F .

, , (xl , tl ). High ,
13.2.
486
p
vl0 (x)
C
vh0 (x)
D
xl
x
xh
. 13.13.
xl , A + B , C ,
, , .
, ,
- . , High
, ,
, C (. . vh (xl ) vl (xl )).
High
, , , -
, , . . . ,

(xl , vl (xl )) (xh , vh (xh ) [vh (xl ) vl (xl )]).
:
. . 13.13
A + B + D + E + F .
,
, . 13.14. , , xl
xl .
xl xl > 0, , ,
( B , B , . . B 0 ).
, xl ( xl ,
(xl )2 ).
, High ,
, , Low.
xl C . xl ,
Low, xl , High C 0 ,
C . xl .
xl Low High. , .
13.2.
487
vl0 (x)
C0
vh0 (x)
B0
F0
c
A0
E0
x
xh
xl xl
. 13.14.
xl . xl
High Low. , xl ,
, .
.
, ml > 0
Low mh > 0 High.
, {(xPl , tPl ), (xPh , tPh )}
:
= ml tl + mh th c(ml xl + mh xh )
max
xl ,tl ,xh ,th >0

tl 6 vl (xl ),
(1l )
th 6 vh (xh ),
(1h)
( )
vl (xl ) tl > vl (xh ) th ,
(2l )
vh (xh ) th > vh (xl ) tl .
(2h)
( )
,
{(1l ), (2l )} {(1h), (2h)} . , , ,
, .
, Low
(), High, , ().
. tPh = vh (xPh ).

, tPl > vh (xPl ).
, vl (x) < vh (x) x > 0, tPl > vl (xPl ),
(1l ). ,
vh (xPh ) tPh , = vh (xPl ) tPl .
(2h=)
13.2.
488
, (2l ) , . .
vl (xPl ) tPl = vl (xPh ) tPh . (2h=),
vh (xPh ) vh (xPl ) = vl (xPh ) vl (xPl ).
/////????? ?
Z
xP
h
xP
l
vh0 (x)dx
xP
h
xP
l
vl0 (x)dx.
, vl0 (x) < vh0 (x) x > 0, ( , ). ,

xPh 6= xPl , . ,

tPl = vl (xPl ),
(1l =)
(1l ) (2h), . . (1l =) (2h=),
, :
ml vl (xl ) + mh [vh (xh ) vh (xl ) + vl (xl )] c(ml xl + mh xh ) max .
xl ,xh
, , . . xPl , xPh
, ( ) , , . . :
(ml + mh )vl0 (xPl ) mh vh0 (xPl ) = ml c0 (ml xPl + mh xPh ),
vh0 (xPh ) = c0 (ml xPl + mh xPh ).
, , High, x
h
xh , ( ,
). High
Low ,
( ). ,
,
ml vl0 (xPl ) = ml c0 (ml xPl + mh xPh ) + mh [vh0 (xPl ) vl0 (xPl )],
,
vl0 (xPl ) > c0 (ml xPl + mh xPh ).
, c0 (y) = c (. . 13.15).
, Low ,
xl = xPl Low
Low
High:
vh0 (xPl ) vl0 (xPl )
ml
vh0 (xPl ) vl0 (xPl )
=
=
.
0
P
P
P
0
P
0
vl (xl ) c (ml xl + mh xh )
vl (xl ) c
mh
, ,
.
13.2.
489
p
vl0 (x)
B
G
c
A
vh0 (x)
E
D
P
xl
xl
xh
. 13.15.
High ,
A+B +D+E +F +G, Low ,
A + B.
, . ,
{(xl , tl ), (xh , th )},
vl0 (xl ) = c vh0 (xh ) = c,
tl = vi (xl ) th = vi (xh ).
1. vh0 (xPh ) = c0 (ml xPl + mh xPh ) = c, xPh = xh , . . High
. , .
High, th = vi (xh ), A+B+C+D+E+F +G,
,
tPh = th + tPl vh (xPl ) = th [vh (xPl ) vl (xPl )]
(. (2h=)), A+B +D +E +F +G. , vh (xPl )vl (xPl ),
C . Low ( , ) High ( ,
).
2. vl0 (0) > c (, , vh0 (0) > 0), xl > 0
xh > 0. ,
xPh > 0 ( , ml mh ), . .
High .
Low
. ( .)
3. High,
Low , . , :

DL = ml [vl (xl ) + vh (xh ) (xl + xh )c] [vl (xPl ) + vh (xPh ) (xPl + xPh )c] =

= ml vl (xl ) vl (xPl ) (xl xPl )c > 0.
13.2.
490
, Low ( ), , High ( ,
C ), ( mh (
C) + ml ( G)). ,
ml ( G).
. 13.16 .
Low , ,
(xPl , tPl ), (,
vl (0) = 0). High ,
, (xPl , tPl ), (xPh , tPh ).
vh (x)[vh (xPh )tPh ]
t(x)
tPh
vl (x)
tPl
x
P
xl
xh
. 13.16.
67:
Low High ul (xl , zl ) = xl + zl
uh (xh , zh ) = 2 xh + zh , , : c(x) = cx.

xPi , i = l, h,
:
1
1
(ml + mh ) q mh q = ml c,
2 xPl
xPl
1
q
= c.
xPh
ml > mh , (
):
P
xl =
ml mh
2ml c
!2
xPh =
1
.
c2
:
ml mh
,
2ml c
3ml + mh
tPh = vh (xPh ) vh (xPl ) + vl (xPl ) =
.
2ml c
tPl = vl (xPl ) =
13.2.
491
, ml mh 2 1,
1
1
, xPh = 2 ,
2
16c
c
7
1
P
P
tl = , th = .
4c
4c
xPl =
, Low 4c, High

. :

7c
4 .
DL = ml vl (xl ) vl (xPl ) + c(xPl + xPh ) c(xl + xPh ) =

= ml vl (xl ) vl (xPl ) + (xPl xl )c .

, xl =
1
4c2
DL = ml
2c
ml mh ml mh
+
2ml c
2ml c
!2

1
m2h
2 c =
.
4c
4ml c
High>
Low, ,
.
4
:
( , )
- .
. 481. ,
: t(x) = A + px. ,
, t(x), :
t(x) =
A + px,
0,
x > 0,
x = 0.
, (A, p),
, . (xi > 0), -
A xi .
, , , i A.
p :
vi0 (xi ) = p.
vi0 () .
, ,
Dh (p) Dl (p) High Low .
, , p,
D(p) = mh Dh (p) + ml Dl (p).
, vi (Di (p)) A pDi (p) vi (0) = 0,
xi = 0, xi = Di (p). :
vi (Di (p)) A pDi (p) > 0.
13.2.
492
,
, , , . . xi > 0. , . (, ,
: Low ,
High
. .)

. , A. ,
Low. , , High
vh (xh ) A pxh = 0.
High xh , xl ,
vh (xl ) A pxl 6 vh (xh ) A pxh = 0.
, vh (x) > vl (x) x,
vl (xl ) A pxl < vh (xl ) A pxl 6 0.
Low, . , vh (xh ) A pxh > 0
vl (xl ) A pxl = 0.
, p Low.
A(p) = vl (Dl (p)) pDl (p).
t(x)
TP
vh (x)[vh (xTP
h )Apxh ]
vl (x)
A
x
xTP
l
xTP
h
. 13.17.
p:
(p) = (ml + mh )[vl (Dl (p)) pDl (p)] + pD(p) c(D(p)).
, . ND (p).
(p) = (ml + mh )[vl (Dl (p)) pDl (p)] + ND (p).
13.2.
493
p,
d
dND
(p) = (ml + mh )[(vl0 (Dl (p)) p) Dl0 (p) Dl (p)] +
(p).
dp
dp
:
vl0 (Dl (p)) = p.
d
dND
(p) = (ml + mh )Dl (p) +
(p).
dp
dp
pTP ,
(p) max,
p>0
(ml + mh )Dl (pTP ) +
dND TP
(p ) 6 0,
dp
(pTP > 0),

(ml + mh )Dl (pTP ) +
ND
dND TP
(p ) = 0.
dp
TP
, d dp(p ) > 0, , pTP pND ,

. ,
pTP < pND .
, , Low, , . p = pND ,
. :
pND D(pND ) c(D(pND )) > pD(p) c(D(p)) p > 0.
, p > pND
A(pND ) = vl (Dl (pND )) pND Dl (pND ) > vl (Dl (p)) pDl (p) = A(p),
(ml + mh )A(pND ) + pND D(pND ) c(D(pND )) >

> (ml + mh )A(p) + pD(p) c(D(p)).
, ??()? p > pND
p = pND .
, pTP < pND . , , y TP = D(pTP ), ,
: y TP > y ND .
,
dND TP
(p ) = D(pTP ) + [pTP c0 (D(pTP ))]D0 (pTP ),
dp

D(pTP ) = mh Dh (pTP ) + ml Dl (pTP )
13.2.
494
,
mh [Dh (pTP ) Dl (pTP )] + [pTP c0 (D(pTP ))]D0 (pTP ) = 0.
, vl0 (x) < vh0 (x),
Dl (p) < Dh (p),
pTP > c0 (D(pTP )).

, , , y TP = D(pTP ),
, y ,
D(c0 (
y )) = y.
, , , . , , ,
() . ,
, .
68:
, , Low High
ul (xl , zl ) = xl + zl uh (xh , zh ) = 2 xh + zh , , ,
: c(x) = cx.

Dl (p) =
1
1
Dh (p) = 2 .
2
4p
p

D(p) =
ml + 4mh
,
4p2

D0 (p) =
ml + 4mh
.
2p3
,
mh [Dh (pTP ) Dl (pTP )] + [pTP c0 (D(pTP ))]D0 (pTP ) = 0,
3mh
ml + 4mh
[pTP c]
= 0,
TP 2
4(p )
2(pTP )3
pTP =
2ml + 8mh
c > c.
2ml + 5mh

A = vl (Dl (pTP )) pTP Dl (pTP ) =
1
1
1
TP = TP .
TP
2p
4p
4p
13.2.
495
,
, :
D(pND ) + [pND c0 (D(pND ))]D0 (pND ) = 0,
1
2
(ml /4 + mh ) [pND c] ND 3 (ml /4 + mh ) = 0
(pND )2
(p )
pND = 2c > pTP .

, .
( ) .
:
q
DL = ml Dl (c) + mh 2 Dh (c) cD(c)

q
[ml Dl (pTP ) + mh 2 Dh (pTP ) cD(pTP )] =

ml + 4mh
ml + 4mh ml + 4mh ml + 4mh
+c
=
=
TP
2c
4c
2p
4(pTP )2
ml + 4mh
2c
c2
ml + 4mh
c
=
(1 TP + TP 2 ) =
(1 TP )2 =
4c
p
(p )
4c
p
2ml + 5mh 2
9m2h
ml + 4mh
(1
) =
.
=
4c
2ml + 8mh
16(ml + 4mh )c
. ml mh
, .
+mh )2
(ml4m
,
lc
2
(2ml +5mh )
. ,
16(m
l +4mh )c
ml mh
.
4

. , . ,
t() Low , xl tl ,
High xh th .
, (xl , tl ) (xh , th ),
Low, High. , (xl , tl ) (xh , th )
, ,
t()
, .
, ( ND ) ( TP ) , ( P ), . .
ND 6 P TP 6 P .
13.2.
496
:
ND < TP .
, :
TP vh (xl ) A pxl .
, vh0 (xTP
l )p > 0, th
th , . , , ,
: TP c0 (D(
p)), ,
, , , .
xh .
. 13.18. B
(xTP
h ),
TP
TP
TP
TP
(xh , th + B ) (xl , tl ) (,
TP
). (xTP
h , th + B )
( ),
TP
, , (xTP
l , tl ).
C
tTP
, h +B+C
.
TP
TP
th +B
13.2.3 3-
:

tTP
h
tTP
l
x
pTP
c
,
-
, k . ,
, , (1) , (2) ,
C
x
13.2.
497
( ). ,
.

, ,

:
Di = Di (pi ), i = 1, . . . , k.
,
, (, ) .
, ,
:
k
X
X
k
pi Di (pi ) c
i=1
Di (pi ) max .
pi >0
i=1
pi > 0 i
Di (pi ) +
pi Di0 (pi )
=c
X
k
Ds (ps ) Di0 (pi ), i.
s=1
i- ,
i (pi ) = Di0 (pi )
pi
,
Di (pi )
pi 1
1
|i (pi )|
= c0
X
k
Ds (ps ) , i.
s=1
,
, i, s,
1
pi
|s (ps )|
.
=
1
ps
1
|i (pi )|
1
, |i (pi )| < |s (ps )|, pi > ps , .

, ,
, , ?
.
, ,
, ,
, ,
:
ui (xi , zi ) = vi (xi ) + zi .
13.2.
498
(xi = yi ), yi .
, p, ,
pi .
:
W =
k
X
X
k
vi (yi ) c
i=1
yi .
i=1
,
W =
k
X
X
k
vi (Di (pi )) c
i=1
Di (pi ) .
i=1
pi = p

=
W
k
X
X
k
vi (Di (
p)) c
i=1
Di (
p) ,
i=1
=
W
k
X
X
k
vi (Di (
pi )) c
Di (
pi ) .
i=1
i=1
, vi () .
, , . f ()
f (x1 )(x1 x0 ) 6 f (x1 ) f (x0 ) 6 f (x0 )(x1 x0 )
x0 , x1 . vi (), ,
vi0 (
yi )(
yi yi ) 6 vi (
yi ) vi (
yi ) 6 vi0 (
yi )(
yi yi ),
vi0 (
yi )yi 6 vi 6 vi0 (
yi )yi ,
vi = vi (
yi ) vi (
yi ), yi = yi yi .
,
p = vi0 (
yi ),
pi = vi0 (
yi ).
(4)
pi yi 6 vi 6 pyi .
, :
k
X
i=1
pi yi 6
k
X
i=1
vi =
k
X
i=1
vi (
yi )
k
X
i=1
vi (
yi ) 6 p
k
X
i=1
yi
(#)
13.2.
499
, ,
c:
k
X
yi =
k
X
yi c
i=1
i=1
c . (#) ,
k
X
k
k
k
k
X
X
X
X
yi c,
yi c yi = yi c yi c =
i=1
i=1
i=1
i=1
i=1
W
:
W = W
k
X
pi yi
i=1
k
X
i=1
yi c 6
k
X
vi (
yi )
i=1
k
X
i=1
yi c
k
X
k
X
vi (
yi ) yi c 6
i=1
i=1
6 p
k
X
i=1
k
X
i=1
(
pi c)yi 6 W 6 (
p c)
k
X
yi
k
X
yi c
i=1
yi .
i=1
, . P
, . .
yi = 0, (
, ) , W 6 0.
, ,
, . ,
.
132:
( p) .
,
.
,
, . ,
:
, 3- .
,
, , , .

,
.
.
.
69 (( . . 17 )):
, , c.
.
pi (yi ) = ai bi yi (ai , bi > 0).
13.2.
500
, ,
p:
ai
1
yi (p) =
p.
bi
bi
, , .
,
y(p) =
k
X
yi (p) =
i=1
k
X
ai
i=1
bi
X 1
b
iI?? i
p.
:
P
ai /bi
1
p(y) = PiI
P
iI
1/bi
iI
1/bi
y,
(. 61 . 466)
X 1
1 X ai
.
y =
c
2 iI bi
b
i
iI
i-
yi =
ai c
.
2bi
,
k
X
i=1
yi =
k
X
ai c
i=1
2bi
X 1
1 X ai
.
=
c
2 iI bi
b
iI i
, 132 ,
, , . , ,
, , ,
. ,
. .
as + c
ai + c
pi =
= ps =
i, s
2
2
ai = as i, s.
. . .
. 13.19 , .
D1 D2 . , a1 > a2 .
A B ,
C . ,
(. 62 . 473). ,
, (A + B + C)/4.
, D1 (p)+D2 (p)
D1 (p) ( a1 > p > a2
13.2.
501
p
a1
B
D1
D1 +D2
a2
D2
A
y2
M C=c
C0
y1
. 13.19.
, ). , .
, , p ( p < a2 ).
( )
p. , ,
, . 13.19 . , A C 0 . . .
(A + C 0 )/4.
, C C 0 ,
. , B/4. 4
13.2.4
/ 561. (
, , ) ,
ui (yi , wi ) = 0,5i [1 (1 yi )2 ] + wi .
/ 562.
:
3 , vi (), i ;
3 vi0 (0) > c0 (0) i;
3 yi > 0, vi (
yi ) c(
yi ) > vi (y) c(y) y > yi .
/ 563. .
, .
/ 564. , . ,
.
/ 565. , , Low High.
,
13.2.
502
Low, . , , .
/ 566. , D(pi ) = i ( p),
.
/ 567. D(p) = 10 p.
M C = 5. ,
( ). .
/ 568. - n .
(i = 1, . . . , n) yi (pi ) (yi0 > 0),
P
: c(y), y = ni=1 yi (c0 () > 0).
n = 2,
y1 = (a1 + a2 + b1 ) b1 p1 ,
y2 = (a2 + b1 + b2 ) (b1 + b2 )p2 ,
c(y) = y,
a1 , a2 , b1 , b2 .
1) a1 , a2 , b1 , b2 ( ). ?
2) ,
.
1+1/a
i
, ai , bi > 0. , n,
/ 569. yi = bi pi
c() .
/ 570. , 1 , , 2 . c0 (y) = c .
?
/ 571. 69 (. 499)
, ?
/ 572. 69 (. 499), , , ,
, . ,
. :
(x1 y1 + + xk yk )2 6 (x21 + + x2k )(y12 + + yk2 ).

/ 573. ,
, .
/ 574.
pi ,
, , . . pi = pi (yi , yi ). ,
(, ) . ,
, .
/ 575. 67 69 ,

( ).
14
, ,
. ,
.
,
, ,
, 1 .
.
,
.
, , (, , . .)
. . , (,
). :
(I) .
(II) . , .
.
,
().
, , ,
( ) ( ) , . , (. 14.1).
14.1.
, n ,
cj (yj ), j = 1, . . . , n,
1
, , ,
,
.
503
14.1.
504
p(Y ). yj [0, +).

.
, ,
, . .
2 .
14.1

, ,
( ).
e ( j ) i, ye
yji
j
e , . . . , ye
e
e ). y
(yj1
, yjn
j
j,j1 , yj,j+1 , . . . P
e ) y c (y ). ,
() ej (yj , yej ) = p(yj + i6=j yji
j
j j
yj > 0, , ,
. , .
3 .
. , ,
4 .
82:
(y1 , . . . , yn ) (ye1 , . . . , yen ),
, yj , [0, +) yej , , . . yej = yj , j = 1, . . . , n.
, yj
X
j (yj ) = p(yj +
yi ) yj cj (yj ) max .
yj >0
i6=j
yj i6=j yie , ( ). P
Rj (Yj ), Yj = i6=j yi ()
. ,
(y1 , . . . , yn ) 5 :
P
yj = Rj (
yi ), j = 1, . . . , n.
i6=j
(y1 , . . . , yn ) . ( ):
0j (yj ) = p(Y ) + p0 (Y ) yj c0j (yj ) 6 0,
Y =
2
Pn
i=1 yi ,
0j (yj ) = 0, yj > 0.
. price-taker.
A. Cournot: Recherches sur les principes mathematiques de la theorie des richesses, Paris: Hachette, 1838.
4
.
5
, .
14.1.
505
, .
() (. 14.1). (1 (y1 , y2 ) = const
2 (y1 , y2 ) = const) (y1 = R1 (y2 ) y2 = R2 (y1 )),
, .
(y ).
y2
y1 =R1 (y2 )
1 (y1 ,y2 )=const
2 (y1 ,y2 )=const
y
y2 =R2 (y1 )
y1
. 14.1.
14.1.1
, ,
, . . c0j (yj ) = c.
:
(C 1 ) p(0) > c,
(C 2 ) Y , p(Y ) < c,
(C 3 ) p() p0 (y) < 0 y > 0.

, . ,
, j k , yj > yk . ,
, yj , yk :
p(Y ) + p0 (Y ) yj c = 0
p(Y ) + p0 (Y ) yk c 6 0.
,
p0 (Y )(yk yj ) 6 0.
14.1.
506
p0 (Y ) < 0, yk > yj . . , : yj = Y /n j = 1, . . . , n,

p(Y ) + p0 (Y )
Y
c 6 0,
n
, Y .
p(0) > c, , , Y = 0 ,
p(0) c 6 0.

, p(0) > c,
Y
p(Y ) + p0 (Y )
c = 0,
n
, ,
C 1 -C 3 , , p() ,
p(Y ) + p0 (Y ) Yn c
[0, Y ].
, p(y +y 0 )y y
0
y > 0, , ( Yn , . . . , Yn ) (
).
, p(y)y ,
, .
, p(Y ) + p0 (Y ) Yn c
1
n1
[p(Y ) + p0 (Y )Y ] + p(Y )
c.
n
n
, n > 1, p(Y ) +
p0 (Y ) Yn c .
Y = 0 ( )
, , , p(0) > c.

:
1. Y , y M (
, , ).
2. Y , Y
(, ).
3. .
133:
(y1 , . . . , yn ) , (
y1 , . . . , yn )
, y M 6 . ,
6
, ,
(. ).
14.1.
507
C 1 -C 3 .
Y =
n
X
yi > Y =
i=1
n
X
yi > y M .
i=1
: ,
p(Y ) + p0 (Y )
Y
c = 0.
n
, C 1 -C 3 , y M > 0,
y M
p(y M ) + p0 (y M )y M c = 0.
, , , :
p(Y ) c = 0.
,
p(Y ) p(Y ) = p0 (Y )
Y
.
n
, p() ,
Y > Y.
, y M > Y . (, ) Y y M ( ). ,
, , Y
.

134:
, C 1 -C 3 , , p()
. Yn n .
lim Yn = Y.
n
: Yn ( )
p(Yn ) + p0 (Yn )
Yn
c = 0.
n
Yn (Yn (0, Y )).

p() ,
p0 (Yn )Yn .
#
"
0
Yn
= 0.
lim p (Yn )
n
n
,
lim p(Yn ) = c.
14.1.
14.1.2
508
.
.

,
.
135:
, :
1) cj (y)
( y ),
2) p(y) y ,
3) p(y + y 0 ) y y y 0 > 0,
4) cj (y) ( )7 ,
5) yj > 0 (j = 1, . . . , n) , p(yj ) < c0j (yj ) yj > yj .
(y1 , . . . , yn ) , 0 6 yj < yj j 8 .
: . .
1) , ()
,
yj . , .
,
. Ry
0 p(t)dt cj (y) cj (0).
, j Yj ,
yj Y
Y > Yj .
2)
.
3) .

8
.
3)-4), , :
?? hI, {Xi }I , {ui }I i m . iXi , ui ,

(. I. L. Glicksberg: A Further Generalization of the Kakutani Fixed Point Theorem with Application to Nash
Equilibrium Points, Proceedings of the American Mathematical Society 3 (1952): 170174, . . . . : , . , . . (.), .: , 1963:
493503), .
.
8
3) 4) : p0 (Y ) + p00 (Y )yj < 0
0
p (Y ) c00j (yj ) < 0 j, Y, yj (F. H. Hahn: The Stability of the Cournot Oligopoly Solution, Review of Economic
Studies 29 (1962): 329331). , ,
, .
, , . 5) : Y , p(Y ) = 0 Y > Y .

, .
14.1.
509
, ,
. , , , , .
.

.
136:
(1) , , (y1 , . . . , yn ),
, (
y1 , . . . , yn ), , p(y) .
P
, Y = ni=1 yi ,
P
, Y = ni=1 yi .
(2) , , :
- Y > 0,
- , p(y), , cj (y), j = 1, . . . , n y , p0 (Y ) < 0
- , cj (y), ,
Y Y .
: (1) yj j -
, , Yj

p(Y )yj cj (yj ) > p(Yj

+ yj )
yj cj (
yj ).
, yj j - ,
p(Y ),
p(Y )
yj cj (
yj ) > p(Y )yj cj (yj ).
,
p(Y )yj + p(Y )

yj > p(Yj
+ yj )
yj + p(Y )yj .
( )
, j ,
, :
yj > yj .
,
p(Yj
+ yj ) > p(Y ).
yj > 0, ,
p(Yj
+ yj )
yj > p(Y )
yj .
( ),
p(Y )yj + p(Y )
yj > p(Y )
yj + p(Y )yj
14.1.
510
[p(Y ) p(Y )](yj yj ) > 0.

, yj > yj ,
p(Y ) > p(Y ).
,
Y 6 Y.
, , yj 6 yj .
j , , Y 6 Y .
(2) , , . , , , . . Y = Y .
: yj = yj j = 1, . . . , n, yj < yj
j . j , yj > 0
yj 6 yj .

p(Y ) + p0 (Y )yj = c0j (yj ).
,
c0j (
yj ) 6 c0j (yj ).

p(Y ) + p0 (Y )yj > c0j (
yj ) = p(Y ).
, Y = Y , p(Y ) = p(Y ),
p0 (Y )yj > 0,
, .
Y < Y .

,
, , . . cj (y) = c(y),
, ( ), . ,
.
137:
, (y1 , . . . , yn )
:
1) , cj (y) = c(y), j = 1, . . . , n, c(y)
;
2) , p(y), , c(y), ;
3) p(0) > c0 (0);
4) p(y) .
:
14.1.
511
(i) :
Y
j = 1, . . . , n.
n
, . .
yj =
yj > 0, j = 1, . . . , n.
(ii) , , p(y)y , .
: (i) , , . , , j k , yj > yk .
,
p0 (Y )(yk yj ) 6 c0 (yk ) c0 (yj ).
, . , :
yj =
Y
j.
n
, Y , .
,
p(0) c0 (0) 6 0,
. , yj > 0, j .
(ii)
!
0
Y
0 Y
p(Y ) + p (Y )
c
= 0,
n
n
n1
1
p(Y ) + [p(Y ) + p0 (Y )Y ] c0
n
n
Y
n
= 0.
p(y)y , p(y) + p0 (y)y . , c(y) .

p(y), , . Y ,
.

, , ,
; .
70:
p(y) = 44y , c1 (y1 ) = 2y12 , c2 (y2 ) = 2y22 +3y1 . ,
y1 = 1/3, y2 = 0.
4
,
.
14.1.
512
71:

p(y) =
7y
y 6 1,
7 6y,
y>1
cj (y) = y 2 /4, j = 1, 2. , (1/2, 1/2),

,
1, , (1/3, 2/3)9 .
4

, , , ,
,
(. . ,
), . ,
.
, , . . cj (y) = c(y).
138:
, , (y1 , . . . , yn ), , (
y1 , . . . , yn ), n > 2, :
1) cj (y) = c(y), j = 1, . . . , n, c(y) ;
2) p(y) , p(y)y 10 ;
3) , p(y), , c(y), y ,
4) c0 (0) > 0, p(0) > c0 (0) Y , p(Y ) = c0 (0).
(i) c n , Yn , n
Y ;
(ii) , Yn /n, n, limn Yn /n = 0;
(iii) ,
Yn
c
n
n
Y
p(Yn ) n
n;
9
, ( 135), e .
R(y1 , . . . , yi1 , yi+1 , yn ) . , yk = ys , k, s 6= i R(y, . . . , y, y, y) . (
) , .
10
y .
14.1.
513
(iv) limn Yn = limn Yn = Y , Yn

.
: ,
:
Y
yj =
j,
n

!
0
Y
0 Y
p(Y ) + p (Y )
=c
.
n
n
( 137) .
(i) ,
n + 1 n :
p(Yn+1
)
+p
(Yn+1
)
p(Yn )
+p
Yn+1
= c0
n+1
Y
(Yn ) n
=c
Yn+1
.
n+1
Yn
n
, , .
, : n, Yn+1
6 Yn . ??
,
Y
np(Yn+1
) > np(Yn ) 0 > p0 (Yn ) n ??.
n
p(y)y , , . .
p(Yn+1
) + p0 (Yn+1
)Yn+1
> p(Yn ) + p0 (Yn )Yn .
np(Yn+1
) + p(Yn+1
) + p0 (Yn+1
)Yn+1
>
Y
> np(Yn ) + p0 (Yn ) n + p(Yn ) + p0 (Yn )Yn .
n
"
(n + 1)
p(Yn+1
)
+p
(Yn+1
)
"
Yn+1
Y
> (n + 1) p(Yn ) + p0 (Yn ) n .
n+1
n
Yn+1
Yn ,
0
Yn+1
n+1
!
0
>c
Yn
n
, ,
Yn+1
Y
> n,
n+1
n
, Yn+1
6 Yn . ,
, Yn n 11 .
Y1 , . . Y1 = y M . , Yn > y M
n > 1 .
11
14.1.
514
, Yn < Y , Yn 6 Y , ,
136, Yn < Yn .
, Y ,
p(Yn ) = c0
Yn
n
> c0 (0) = p(Y ).
, , , , Yn 6
(ii) , Yn /n .
p(y)y , .
p(Yn+1
)Yn+1
6 p(Yn )Yn + [p(Yn ) + p0 (Yn )Yn ](Yn+1
Yn )
Yn ).
[p(Yn+1
) p(Yn )]Yn+1
6 p0 (Yn )Yn (Yn+1
,
Y Y
n+1
Y
[p(Yn+1
) p(Yn )] 6 (n + 1) n+1 n p0 (Yn ) n .()
n
Yn+1
n
- n
Yn+1
Y
> n,
n+1
n
. .
Yn+1
Yn
> 1.
Yn+1
(n + 1)
(*) , p0 (Yn ) < 0,

n+1
Y
[p(Yn+1
) p(Yn )] 6 p0 (Yn ) n ,
n
n
p0 (Yn ) < 0.
Yn+1
> Yn , n > 2 ,
[p(Yn+1
)
p(Yn )]
n+1
n
n
< 0.
p(y)y , , . . Yn+1
> Yn
p(Yn+1
) + p0 (Yn+1
)Yn+1
6 p(Yn ) + p0 (Yn )Yn .
, ,
np(Yn+1
) + p(Yn+1
) + p0 (Yn+1
)Yn+1
<
Yn
+ p(Yn ) + p0 (Yn )Yn .
n
n + 1,
np(Yn ) + p0 (Yn )
p(Yn+1
) + p0 (Yn+1
)
Yn+1
Y
< p(Yn ) + p0 (Yn ) n .
n+1
n
14.1.
515
, ,
Yn+1
n+1
!
0
<c
Yn
n
Yn+1
Y
< n.
n+1
n
, , . .
Yn
= 0,
n n
lim
, Yn Y .
(iii) , Yn+1
> Yn
p(Yn+1
)Yn+1
< p(Yn )Yn+1
.
p(Yn+1
)
Yn+1
Yn+1
Y
Y
< p(Yn ) n + p(Yn )
n
n+1
n
n+1
n
, , ,
,
Yn+1
c
n+1
Yn
>c
n
!
0
+c
Yn
n
Yn+1
Y
n
n+1
n
, ,
n+1 < n c0
Yn
n
Yn+1
Y
n
p(Yn )
n+1
n
n n
:
!
Y
Y
n
.
n = p(Yn ) n c
n
n

0
c
Y
Yn
n
p(Yn ) = p0 (Yn )
Yn
< 0.
n
n+1
n+1
< Ynn , n+1 < n .
(iv) :
p(Yn )
+p
Y
(Yn ) n
n
=c
Yn
n
Yn [0, Y ]. , ,
. ,
14.1.
516
. ,
n .
lim p0 (Yn )
Yn
= 0.12
n
Yn /n ,
!
0 Yn
c
c0 (0).
n
,
p(Yn ) c0 (0)
, c0 (0) = p(Y ),
,
Yn Y .
, Yn , Yn Y ,
:
Yn Y .

, . , , ,
, , , .

.
72:
: p(y) = a by ,
cj (yj ) = cyj (j = 1, . . . , n),
j = (a bY )yj cyj .

a bY byj = c.
j ,
na nbY bY = nc.
,
Y =
n(a c)
.
(n + 1)b
Y =
2(a c)
.
3b

p = a b
n(a c)
a + nc
b ac
=
=c+
(n + 1)b
n+1
n+1 b
, , , p(Yn ) c0 (Yn /n) , . . ,

, .
12
14.1.
517

ac
Y =
.
b
, , Y 6 Y .
:
n(a c)
ac
lim
=
,
n (n + 1)b
b
:
a + nc
= c.
n+1
lim
14.1.3
, 137, , , c().
137, ,
:
Y
yj =
> 0 j.
n
.
,
:
u(x, z) = v(x) + z.
, x (
z )
p(x) = v 0 (x).

Y
W (Y ) = v(Y ) nc
n
W (Y ) = v (Y ) c
Y
n
!
0
= p(Y ) c
Y
n

Y
p (Y )
+ p(Y ) c0
n
0
Y
n
= 0,
:
W 0 (Y ) = p0 (Y )
Y
> 0.
n
, Y , .
14.1.
518
(Y, n) = 1 p(Y )Y nc
W
n
!
Y n1
+
v(Y ) nc
!
Y
.
,
.13 ,
.
0 (Y, n) = 1 p0 (Y )Y + p(Y ) c0
W
n
1
= p0 (Y )Y + p(Y ) c0
n
Y n1
+
p(Y ) c0
n
n
Y
= p (Y ) + p(Y ) c0
n
0
Y n1 0
+
v (Y ) c0
n
n
Y
n
Y
=
n
Y
=
n
, (Y = Y ) . , , p(Y )Y ,
(Y, n) Y , W
(Y, n)
, W
Y , , Y () .
,
n W
, W . ,
, , ,
.
14.1.4
, , , ,
. , ,
.

. ,
,
() . , , ,
()
.
,
. , 138. , f > 0,
, c(y), c(0) = 0:
c(y) = f + c(y).
13
T. C. Bergstrom and H. R. Varian: Two Remarks on Cournot
Equilibria, Economic Letters 19 (1985): 58. ,
.
14.1.
519
y M . ,
, ,
(y M ) > 0.
, :
:
M ),
f 6 (y
(y)
= (y) f . ( , ,
, .)
n , , , n .
, n ,
1 .
n )
, n (, ,
n
.
( , 1 > 0) n 0 ( n 0).
.
1
, 0 < f 6
n(f ) ,
n (f ) > f >
n (f ) + 1
n(f ) > 0 > n(f )+1 .

, 1 ] n(f ).
. , f (0,

, .
, f . f 0 > f 00 .
n(f 0 ) > f 0 > f 00 >
n(f 00 )+1 , . .
n(f 0 ) >
n(f ) ,
00
0
00
n(f 00 )+1 n , n(f ) + 1 > n(f ) n(f ) > n(f 0 ).
N ) = N . , n(
n(), ,
lim n(f ) = .
f 0
, , ,
( 138).
.
.14
Z
W (n) =
0
Yn
Yn
p(x)dx nc
n
n
.
14
N. G. Mankiw and M. D. Whinston: Free Entry and

Social Inefficiency, Rand Journal of Economics 17 (1986): 4858.
14.1.
520
, n(f ) > n
1. n
,
W (
n) > W (
n 1),
Yn
Z
0
Yn
p(x)dx n
c
n
>
Yn
1
Yn1
p(x)dx (
n 1)c
n
1
Yn1
c
n
1
Yn1
p(x)dx n
c
>
n
1
Yn
1
Yn
Yn
.
c
n
1
p(Yn1 ) nn1
,
n 1
Y
> p(Yn1 ) n 1
n
1
Yn1
p(x)dx n
c
n
1
Yn
1
Yn
Yn
!
.
,
Z
Yn
Yn
1
p(x)dx <
Yn
1
p(Yn1 )dx = p(Yn1 )(Yn Yn1 )
Yn1
Yn1
> p(Yn1 )
Yn + Yn1 n
c
n
1
n
1
!
n 1
Yn1
Y
n
=n
p(Yn1 )
n
1
n
Yn1
n
c
n
1
Yn
c
=
n
Yn
c
.
n
c() ,
Yn1
c
n
1
Yn
c
n
!
0
6c
Yn1
n
1
Yn1
Y
n
n
1
n
,
n 1 >
n
p(Yn1 )
Yn1
Y
n
n
1
n
n
c
Yn1
n
1
Yn1
Y
n
n
1
n
n
p(Yn1 )
Yn1
Yn1
Y
n
n
1
n
1
n

n 1 >
np
(Yn1 )
Yn1
n
1
Yn1
Y
n
n
1
n
> 0.
,
n 1 > 0.
, , n(f ) f .
0 > n(f )+1 .
14.1.
521
, n 1 > n(f )+1 . ,

n
1 < n(f ) + 1
n(f ) > n
1.
, , n(f ),
, n
, 1 . , ,
.
73 (( 72)):
, ,
j (n) =
(a c)2
1
F.
b
(n + 1)2
n
W (n) =
(a c)2
1
(a c)2
nF.
2b
2(n + 1)2
b

, n(F ) =
ac
bF
1, []
. a = 28, b = 10, c = 10, F = 10 n(F ) = 0.

n
56
0 2 W (0) = 0, W (1) = 172
80 , W (2) = 10 . ,
n
= 1 .
W (n) , n
= 1 ( n = 2
).
4
14.1.5
/ 576. ,
) ,
p c0j
,
p
(j ) ;
) ( j ) .

H=
j2 .
) ,
.
) . , .
14.1.
522
/ 577. , , ,
. ( , .)
/ 578. ,
.
/ 579. , , ,
, (
)
p0 (Y ) + p00 (Y )yj < 0 p0 (Y ) c00j (yj ) < 0 j, Y, yj .
/ 580. , , 1 < Y 2 , y 1 R (Y 1 )
, . . Yj
j j
j
j
2 ) y 1 > y 2 .
yj2 Rj (Yj
j
j
. ,
1
1
2
2
j (Yj
, yj1 ) > j (Yj
, yj2 ) j (Yj
, yj2 ) > j (Yj
, yj1 ).
(yj1 < yj2 ) .

/ 581. , p(y) cj (y)
:
p0 (Y ) + p00 (Y )yj < 0 p0 (Y ) c00j (yj ) < 0 j, Y, yj .
()
,
, , , , . . yj = yi j, i
.
Tj (Y, yj ) = p(Y ) + p0 (Y )yj
, (y1 , . . . , yn ) ,
Tj (Y , yj ) 6 0,
Tj (Y , yj ) = 0, yj > 0,
Y = nj=1 yj .
(1) , () Tj (Y , yj ) . ().
(2) , Y 1 > Y 2 . , (), yj1 6 yj2 j .
, . Y 1 = Y 2 , yj1 = yj2 j .
(3) .
/ 582. , , ().
n n + 1 . , Yn+1
> Yn yj,n+1
<
yj,n .
/ 583. , ().
,
,
, .
P
14.2.
523
/ 584. , (), . (
) .
/ 585. ,
c01 (y) > c02 (y),
, .
/ 586. cj (yj ) = Cj ,

p(y) = exp(y).
, , .
?
/ 587. , , ,
.
14.2
, 15 , , y1 , . ,
() , , . , ,
y1 .
, , y2 ( ,
). , , y1 , .
.
, , ,
() .
, , -, . , ,
.
, .
. 14.2.
1- ()
y1
2- ()
y2

1 =y1 p(y1 +y2 )c1 (y1 )
2 =y2 p(y1 +y2 )c2 (y2 )
. 14.2.
(y1S , y2S ), .
15
H. von Stackelberg: Marktform und Gleichgewicht, Wien, Berlin: Julius Springer, 1934.
14.2.
524
. , (y1S , r2S ()), r2S () . (

r2 (y1 ),
.)
83:
(y1S , y2S ), , ( )
r2S () : R+ 7 R+ ,
, :
1) y2 = r2S (y1 ) [0, +)
, y1 > 0.
2) y1S :
1 = y1 p(y1 + r2S (y1 ))y1 c1 (y1 ) max .
y1 >0
. , , , R2 (y1 ). , .
, . r2 (y1 ), :
r2 (y1 ) R2 (y1 ) y1
.
, , , . . R2 (y1 ) 16 . :
1 = y1 p(y1 + R2 (y1 ))y1 c1 (y1 ) max .
y1 >0
y1S , y2S = R2 (y1S ), (y1S , y2S ) .

y2
yS
y2 =R2 (y1 )
y1
. 14.3.
(. . 14.3).
. 14.4. , .
.
16
, , , (. 8).
14.2.
y2
525
yC
yS
y2 =R2 (y1 )
y1 =R1 (y2 )
y1
. 14.4.
14.2.1
.
139:
, :
1) cj (y) ,
2) p(y) ,
3) yj > 0j = 1, 2 , p(yj ) < c0j (yj ) yj > yj .
(y1S , y2S ) , 0 6 yjS < yj .
: .
1) , , y2 , , 2 (y1 , y2 ) <
2 (y1 , y2 ) y1 y2 > y2 . :
2 (y1 , y2 ) 2 (y1 , y2 ) = p(y1 + y2 )y2 p(y1 + y2 )
y2 (c2 (y2 ) c2 (
y2 )).
:
2 (y1 , y2 ) 2 (y1 , y2 ) =
= p(y1 + y2 )y2 p(y1 + y2 )
y2
y2
y2
p(y1 + t)dt +
y2
y2
[p(y1 + t) c02 (t)]dt.
p(y) , p(y1 + y2 ) < p(y1 + t) t < y2 p(y1 + t) 6 p(t) y1 > 0,
2 (y1 , y2 ) 2 (y1 , y2 ) <

< p(y1 + y2 )y2 p(y1 + y2 )
y2 p(y1 + y2 )(y2 y2 ) +
y2
y2
[p(t) c02 (t)]dt =
= (p(y1 + y2 ) p(y1 + y2 ))
y2 +
y2
y2
[p(t) c02 (t)]dt < 0.
, y2 = y2 ,
. , ( y1 >
14.2.
526
0) [0, y2 ]. ,

[0, y2 ]. y1
2 (y1 ). R
2 : R+ 7 [0, y2 ]. ,
R
R2 (y1 ) = R2 (y1 ) y1 .
2 (y)
?? (. ??) y R
, , , R2 () . ( , .)
2 () R2 () R2 ().
R
2) :
1 (y1 , y2 ) = y1 p(y1 + y2 )y1 c1 (y1 ) max
()
y1 ,y2 >0
y2 R2 (y1 ).
, .
, , , y2 > 0 y1 = y1 ,
y1 > y1 . , () ,
y1 6 y1 .
, , y1 y2
R=
(y1 , y2 ) y1 [0, y1 ], y2 R2 (y1 ) [0, y2 ] .
R2 () , R ,
. .
3) (y1S , y2S ) (). r2S (y1 ),
(y1S , y2S ),
r2S (y1 ) R2 (y1 ) y1 ,
, y1S
1 = y1 p(y1 + r2S (y1 ))y1 c1 (y1 ) max .
y1 >0
, (), , y2 r2S (y1 ).

y1S , r2S () .
14.2.2

. : . .
y1C y2C .

, , y1 = y1C , 17
p(y1C + y2C )y1C c1 (y1C ) 6 p(y1S + y2S )y1S c1 (y1S ).
17
y1S y1C .
, y1S y2S , y1C y2C .
14.2.
527
y1C y2 = y2C ,
p(y1S + y2C )y1S c1 (y1S ) 6 p(y1C + y2C )y1C c1 (y1C ).
y1S > 0, ,
p(y1S + y2C ) 6 p(y1S + y2S ).
,
y2C > y2S .
. , R2 () ( ,
, y2C y2S ),
y1C 6 y1S .
R2 () , , ,
y1C > y1S .
R2 () , , . . . 14.5
, p(y) = 1/y 2 . ,
. .
y2
y2 =R2 (y1 )
y1
. 14.5.
140:
, :
1) , p(y), , c2 (y), ,
2) : p0 (y) < 0, y > 0,
3) p0 (y1 + y2 ) c002 (y2 ) < 0 y1 y2 ,
4) R2 (y1 ) 18 .
18
14.2.
528
y1 , R2 (y1 ) > 0, R2 (y1 ),
1 < R20 (y1 ),

R2 (y1 ) + y1 , .
19
p0 (y1 + y2 ) + p00 (y1 + y2 )y2 < 0 y1 , y1
, R20 (y1 ) < 0.
: , ,
y1 +R2 (y1 ), y1 . R2 (y1 ) y1 , R2 (y1 ) > 0

p(y1 + R2 (y1 )) + p0 (y1 + R2 (y1 )) R2 (y1 ) = c02 (R2 (y1 )).
y1 ,
p0 (y1 + R2 (y1 )) (1 + R20 (y1 )) + p00 (y1 + R2 (y1 ))R2 (y1 ) (1 + R20 (y1 )) +
+ p0 (y1 + R2 (y1 )) R20 (y1 ) = c002 (R2 (y1 )) R20 (y1 ).
(1 + R20 (y1 )) [2p0 (y1 + R2 (y1 )) + p00 (y1 + R2 (y1 ))R2 (y1 ) c002 (R2 (y1 ))] =
= p0 (y1 + R2 (y1 )) c002 (R2 (y1 )).

2p0 (y1 + R2 (y1 )) + p00 (y1 + R2 (y1 )) R2 (y1 ) c002 (R2 (y1 )) 6 0.
,
p0 (y1 + R2 (y1 )) c002 (R2 (y1 )) < 0.
,
2p0 (y1 + R2 (y1 )) + p00 (y1 + R2 (y1 )) R2 (y1 ) c002 (R2 (y1 )) 6= 0
,
1 + R20 (y1 ) =
p0 (y1 + R2 (y1 )) c002 (R2 (y1 ))

,
2p0 (y1 + R2 (y1 )) + p00 (y1 + R2 (y1 )) R2 (y1 ) c002 (R2 (y1 ))
(O)
1 + R20 (y1 ) > 0 R20 (y1 ) > 1.

R2 (y1 ). (O)
p0 (y1 + R2 (y1 )) + p00 (y1 + R2 (y1 )) R2 (y1 )

.
R20 (y1 ) = 0
2p (y1 + R2 (y1 )) + p00 (y1 + R2 (y1 )) R2 (y1 ) c002 (R2 (y1 ))
, R20 (y1 ) < 0 , .

19
, , . ,
.
14.2.
529
y2
yC
yS
y2 =R2 (y1 )
45
y1
. 14.6.
, , R2 () ,
y1C + y2C 6 y1S + y2S ,
,
y1C + y2C > y1S + y2S .

, .
. 14.6. ,
, ,
y2C y2S . - y1C
y1S . - , 45 ,
. , y1C + y2C
y1S + y2S .
. , . ,
, .
74:
: p(y) = a by ,
cj (yj ) = cyj (j = 1, 2).
R2 (y1 ) =
a c by1
.
2b
,
1 =
ac
b
y1 y12 .
2
2

y1S =
ac
.
2b
y2S =
ac
.
4b
3ac
4 b
, , , , .
4
y1S + y2S =
14.3.
14.2.3
530
??? .
14.2.4
/ 588. , , . ,

.
?
.
/ 589. .
p(Y ) =
1
,
Y
cj (0 < cj < 1).

?
( ).
/ 590. 2.
, .
P (Y ) = 16 0,5Y . ,
?
/ 591. , 1- , 2-
c2 (y) = y 2 ,
> 0 .
P (Y ) = 1 Y.
,
,
y1S ()
y2S ()
1,
1.
y1C ()
y2C ()
/ 592. 139 (. 525), , .
/ 593. , , ,
.
/ 594. ,
. p1 = 2 y1 + y2 p2 = 3 y2 + y1 ,
1 2 .
.
14.3

. ,
,
. , ,
, , ,
.
14.3.
14.3.1
531
. , () , .
, , ,
. , , :
( ),
. . .
, .
, dyj 6 0,
. j - ?
, j -
n
X
j (yj ) = p yi yj cj (yj ).
i=1
n
n
n
X
X
X
dj = p0 yi yj dyi + p yi dyj c0j (yj ) dyj =
i=1
i=1
i=1
n
n
n
X
X
X
X
= p0 yi yj dyi + p0 yi yj + p yi c0j (yj ) dyj .

i=1
i6=j
i=1
i=1
, .
P
, i6=j dyi < 0. ,
, , dj > 0 20 .
, ( )
(. 14.7). , , , , ( ).
14.3.2
( ) .
, , .
21 .
, - ,
.
.
y1 , . . . , yn > 0, :
20
, ,
() . .
21
. .
14.3.
532
y2
y1 =R1 (y2 )
y2 =R2 (y1 )
y1
. 14.7.
1) , :
j (
y1 , . . . , yn ) > j (y1 , . . . , yn ), j.
2) ( 22 ), y1 , . . . , yn > 0,
, .
, (. AB . 14.8). . , . ()
,
.
, , , ,
,
( ).
y2

B
A
y1
. 14.8.
, ,
, . . 14.8 ,
22
- , .
14.3.
533
, :
y1 + y2 = y1 + y2 ,
. .
141:
:
yj > 0 j , .
:
Y 6 Y ,
:
p(Y ) > p(Y ).
: , , :
p(Y )
yj cj (
yj ) > p(Y )yj cj (yj )
, yj = yj j ,
yj = yj , ,
):
(Yj
p(Y )yj cj (yj ) > p(Yj

+ y)
yj cj (
yj ).
,
p(Y )
yj > p(Yj
+ y)
yj .
, yj > 0,
p(Y ) > p(Yj

+ y).
. j .
Yj 6 Yj
n 1, Y 6 Y .

- 23 . y1 , . . . , yn > 0 -,
j
j (y1 , . . . , yn ) max
i (y1 , . . . , yn ) > i (
y1 , . . . , yn ), i 6= j,
y1 , . . . , yn > 0.
24 y1 , . . . , yn > 0 1 , . . . , n > 0, j = 1, :
n
X
i=1
i
(
y1 , . . . , yn ) = 0 k.
yk
23
, , .
24
, yj > 0 , . , .
14.3.
534
, (. . 14.8). :
p0 (Y )
n
X
i yi + k [p(Y ) c0k (
yk )] = 0 k.
i=1
j = 1, ,
, .
, , , - , . , ,
, .
142:
1) : yj >
0 j ,
2) , p0 (Y ) < 0;
3) ,
4) .

k
(
y1 , . . . , yn ) > 0 k.
yk
:
,
k
14.3.3
X i
X
k
(
y1 , . . . , yn ) =
i
(
y1 , . . . , yn ) = p0 (Y )
i yi > 0 k.
yk
y
k
i6=k
i6=k
.
, - . , , ,
, ,
.
n
X
j = p(Y )Y
j=1
n
X
cj (yj ),
j=1
Y = y1 + + yn .
, :
p(Y K ) + p0 (Y K )Y K 6 c0j (yjK ),
p(Y K ) + p0 (Y K )Y K = c0j (yjK ), yjK > 0.
, , 25 . , c0j (yj ) = cj ,
,
c = min cj .
j
25
, , .
14.3.
535
75:
72 : p(y) = a by ,
cj (yj ) = cyj .
p(Y K ) + p0 (Y K )Y K = a bY K bY K = c = c0j (yjK ).
,
YK =
ac
,
2b

(a c)2
.
4b
, 72,
(a bY K )Y K cY K =
Y =
n(a c)
(n + 1)b
, ,
n(a c)2
,
(n + 1)2 b
.
, .
4
, 137 138, ,
, ,
(, ,
). .
, 26 .
143:
1)
: yjK > 0 j ,
2) , p(y)y ,
3) cj () ,
, :
Y > Y K.

. ,
, () .
26
. E. Wolfstetter: Topics in Microeconomics : Industrial Organization, Auctions, and Incentives, Cambridge
University Press, 1999 (3.4.4, What if Suppliers form a Cartel?, p. 98), 3.4.4, What if Suppliers form a Cartel?,
p. 98.
14.3.
536
76:

p(y) = 9 y

6y 3 y 2 ,
c(y) =
4
12,
y 6 4,
y > 4.
3 : (2, 2), (0, 9/2) (9/2, 0).

(0, 9/2) (9/2, 0). , (2, 2)
, .
4
, ,
, y = 4. -, , .
, , ,
.
144:
1) : yjK > 0 j ,
2) ,
3) .

j K
(y , . . . , ynK ) > 0 j,
yj 1
. . , .
: j -
j
= p(Y ) + p0 (Y )yj c0j (yj ).
yj
(y1K , . . . , ynK ),
p(Y K ) + p0 (Y K )Y K = c0j (yjK ),
j K
(y , . . . , ynK ) = p0 (Y K )(Y K yjK ) > 0.
yj 1
, (yj = yjK ),
, ( )
.
14.4.
14.3.4
537
/ 595. ,
, .
/ 596. .
(: .
yj > 0 (j = 1, . . . , n) , p(yj ) < c0j (yj ) yj > yj . , , j -, j -
yj , ,
yj = yj . ,
Y , Yj , Y > Yj .)
/ 597. 138 .
/ 598. ,
c01 (y) > c02 (y),

, .
/ 599. .
p(Y ) =
4
,
1+Y
:
cj (yj ) = yj .
, , , .
/ 600. , 1,
.
p(Y ) = 5 2Y . ,
?
/ 601.
c1 (y1 ) = y12 /2, c2 (y2 ) = y12 /4 c3 (y3 ) = y12 /6. p(Y ) = 1 Y . ,
, ,
. , , .
/ 602. 143.
14.4
, ( ,
) .
, ( )
, a
.
, ,
14.4.
538
. ,

.
, () 27 .
, c
, .
pj .
,
, pj pj > c.
,
, ,
pj , , , pj :
yj = Dj (pj , pj ), pj > c.
(
), :
1) , , , : yj = 0 (
).
2) k , (pmin ),
28
D(pmin )
yj =
,
k
D() . , , yj = D(pmin ).
3) :
c0j (y) = c, j, y > 0.
, ( c ).
,
, () .
145:
,
29 (pj = c), .
D(p) , c, D(c) > 0,
.
: , .
- .
, . ,
pj > c. , , ( ). p [c, pmin ],
, c,
27
, . . : J. Bertrand: Theorie des Richesses: revue de Theories mathematiques de la richesse sociale par Leon Walras et Recherches sur les principes mathematiques
de la theorie des richesses par Augustin Cournot, Journal de Savants 67 (1883): 499508.??
.
28
, : .
29
, .
.
14.4.
539
pmin , , .
( p > c,
). . ,
, .
,
. . , pj = c,
, , , .
, , , .

, , , , .
, ,
-. , , , . -,
. , .
, , .

.
,
, . . ,
.
, :
, .
.
, :
.

, ,
, .
, .
,
( ),
.
:
1. ( ).
2. , , .
3. , .
14.4.
14.4.1
540
, .
, , . . 30 . , ,
pj .
yj = Dj (pj , pj ), pj pj . ,
(jj < 0),
31
i pj
(ij = dD
dpj yi > 0 i 6= j , . . ) .
-, c(y) = cy .

604 (. 550).
,
.
, ,
,
:
Dj (pj , pj ) +
dDj
dDj
(pj , pj )pj =
(pj , pj )c
dpj
dpj
1
1
pj = c.
|jj |
, , , , , .
,
, , . ,
.
, . 14.1 . , ,
.
(. . 14.9). , ,
, , .
, . . , .
,
Dj (p) +
n
X
dDi
i=1
30
dpj
(p)(pi c) = 0.
E. H. Chamberlin: The Theory of Monopolistic Competition, Harvard University Press, 1933 (. .

. : : , .: ,
1996).
31
(), () .
14.4.
541
,
pj
1
1
|jj |
(pi c)
i6=j
ij Di (p)
= c.
|jj | Dj (p)
( ) . ,
, .
p2
p1
. 14.9.
77:
(, - )
y1 (p1 , p2 ) =
p2
p+1
1

y2 (p1 , p2 ) =
p1
p+1
2
cj (yj ) = cyj (, , c > 0, < ).

:
11 = 22 = ( + 1).
,
p 1 = p2 =
( + 1)c
.
,
( + 1)c/ .

y1 = y2 =
( + 1)c
!+1
, ,
, .
14.4.
542
, , , 12 = 21 = , ,

( + 1 )c
pj =
,

y1 = y 2 =
14.4.2
( + 1 )c
!+1
, ,
.
, ,
. , ,
.
:
, .
,
.

,
, . , ,
. , , , , ,
.
.
, j
pj (pj > c0j (0)) ,
yj , :
c0j (yj ) = pj .
, , , ,
. . 14.10, pmin
. , , ,
, ,
.
,
,
, .

. ,
, , ,
.
,
.
14.4.
543
D(y)
c0j (y)
pmin
pj
. 14.10.
, , ,
, () . ,
, , . .
32 .
. . , , , .
, , , ,
, , .
. ,
.
. , . ,
(p1 < p2 ) y1 .
, D2 . , ,
: D2 = D2 (p2 , y1 , p1 ). D2
.
, D2 (p2 , y1 , p1 ) p1 , p2 y1 ( p1 < p2 ).
33 p2
D2 (p, y1 , p) = D(p) y1 .
.

:
D2 (p2 , y1 , p1 ) =
D(p1 ) y1
D(p2 ).
D(p1 )
32
.

.
33
, D(p) p .
14.4.
544
p
p1
y1
D2
. 14.11.
,
, . , , , .
34 . , ,
, -
( )35 .
. 14.11 . .
,
.
y1 . ,
. , 15 ,
5 , 5 5 ,
, .

, .
, ( ). , ,
p2 , , , . , (
)
.
,
, ( D(p2 ) > y1 )
D2 (p2 , y1 , p1 ) = D(p2 ) y1
D(p2 ) , ,
, .
, D(p2 ) > y1 . D(p2 ) < y1 ,
, , D1 (y1 ), . ,
34
, () .

.
35
14.4.
545
p
D1 (y1 )
y1
D2
y1
. 14.12.
:
D(p ) y ,
2
1
D2 (p2 ) =
0,
p2 6 D1 (y1 ),
p2 > D1 (y1 ).
. 14.12.

y1 .
, (
y1 ) ( ).
, ,
, :
1) , p1 p2 .
p1 , p 2
p1 <p2
p1 =p2
p1 >p2
y1
y1 , y 2
y2
y1
y2
. 14.13.
2) , , (p1 < p2 ),
, y1 .
, .
, y2 . (p1 = p2 = p), , y1 y2 .

(y1 + y2 > D(p)), .
14.4.
546
. 14.13. ,
.
. j -
(pj , Yj< (pj , pj ), Yj= (pj , pj ), Yj> (pj , pj , yj )),
, ( ) . Yj<
, ,
, Yj> , Yj= .
, , , . j ,
, .
j (p1 , p2 , y1 , y2 ) ; .
, Yj< (), Yj= () Yj> ()
, Rj< (),
Rj= () Rj> (). , . ,
p1 p2 .

(
p, p, y1 , y2 ),
:
c01 (
y1 ) = p c02 (
y2 ) = p,
:
D(
p) = y1 + y2 .
c02 (y)
A
D2
p2
p
D
B
y2 y2
y1 +
y2
. 14.14.
.
, (
p, p)
. , , .
.
14.4.
547
. 14.14.
(
c2 (0)). p p2 , ,
, A, , ,
B .
, .
, (
p, p, y1 , y2 )
. ,
p. ,
p2 p.
, ,
2 (p2 ), . .
(
p, p2 ), p2 > p, R
<
2 (p2 ) = R> (
p, p2 )) p2 > p
R
2 p, p2 , R1 (
2 (
R
p) = R2= (
p, p),
Rj< (), Rj= () Rj> () .
, (
).
. pj , , j -
yj , :
c0j (yj ) = pj .
2 (
p, p2 )) = y1 R2= (
p, p) = R
p) = y2 .
, R1< (
y1 p, p2 > p
, ,
. ( .) , p2 > p
2 (p2 ) = R> (
R
1 ) = D2 (p2 , y1 , p).
2 p, p2 , y
:
D2 (
p, y1 , p) = D(
p) y1 ,
2 (
D2 (
p, y1 , p) = y2 = R
p).
, p2 > p
2 (p2 ) = D2 (p2 , y1 , p).
R
, , D2 (),
2 (p2 ) .
p2 ( , p2 > p), R
2 (p2 )
y2 = R
2 (p2 )p2 c2 (R
2 (p2 )), p2 > p.
2 (p2 ) = R
, p2 =
p . , p2 > p
2 (p2 ) + [p2 c02 (R
2 (p2 ))] R
20 (p2 ).
02 (p2 ) = R
2 (
p2 = p, , R
p) = y2 ,
20 (
p) = y2 + [
p c02 (
y2 )] R
p).
02 (
14.4.
548
p = c02 (
y2 ),
02 (
p) = y2 .
, y2 > 0 02 (
p) > 0.
. , ,
, . , ,
, , .
14.4.3
(
)

c, () . ,
j =
t1 jt ,
t=1
jt i t, .
j pjt ,
t Ht1 =
{
p1 , p2 }t1
=1 .

pj =
pM ,
c
pi = pM i, , 1 6 6 t 1

pM . 1
. ,
pM , pM , ,
, . , ,
,
pM .
. , , ,
( ) .
. , .
,
.
, .
, , . , . ,
.
146:
, > 1/2.
14.4.
549
: , . ,
, .
,

1 M 1 M
= (p c)D(pM )
2
2

X
1
1 M
j = M
t1 =
.
2
21
t=1
, :
p < pM .
( ,
, .)

(p c)D(p).
, , , :
. ,
1 M
.
(p c)D(p) >
21
(p c)D(p) M = (pM c)D(pM ). ,
,
16
1 1
21
1
> .
2
, > 1/2
.
? ,

( ).
, ,
. , .
,
.

, , - ( ) .
. , ,
-.
14.5.
14.4.4
550
/ 603. ( ) .
/ 604. . (,
. .
.)
/ 605. . j -
pj pj :
yj = 2 pj + ( 1)pj ( > 1).
1. . .
/ 606. , , ,
p1 > 0, p2 > 0 .
:
y1 (p1 , p2 ) = 6 2p1 + p2 ,
y2 (p1 , p2 ) = 10 3p2 + p1 .
, .
14.5
( 1) p,
(j = 2, . . . , n) , (. .
). ,
, . ,
,
.
.
.
. , ,
. Rj (p),
:
pyj cj (yj ) max .
yj >0
( , , Rj (p) , .) , ,
, Rj (p)
. 36 :
c0j (Rj (p)) = p,
36
, p > 0 .
14.5.
551
Rj (p) c0j (yj ). , , .

, , .
, , :
D1 (p) = D(p)
n
X
Rj (p).
j=2
, ,
D1 (p). ,
1 = D1 (p)p c1 (D1 (p)) max .
p
. 14.15
n = 4.
p
R2 (p)
R2 (p)+R3 (p)
R2 (p)+R3 (p)
+R4 (p)
M C1
M R1
D1
y
y2
y3
y4
y1
y1
y1
. 14.15.
14.5.1
/ 607. . (:
.)
/ 608. ,
, c1 (y1 ) = cy1 c2 (y2 ) = y22
, D(p) = abp. ,
, , , -.
.
/ 609. .
, : c2 (y2 ) =
y22 /2. D(p) = 8 p.
, ()?
15
, , .
. ?? ...
: (, , ), (, , ), Principal-Agent problem.
15.1
, ( , ).
, ( ) y = y(x),
x X , X ().
, y() , ,
, . y() , y 0 (x) > 0, x X y 0 () .
w() . w()
.
, , , y w .
:
= y(x) w.
,
, . . u = u(x, w).
, :
u(x, w) = v(w) c(x),
v(w) w , c(x) x. ,
v() , c() .
, :
v 0 (x) > 0, v 0 () ( ), c0 (x) > 0 c0 ()
( ).
, u0 . , ,
u0 . ( , u = u0 ,
.)
, , () , .
552
15.1.
553
. w(). ,
x: w = w(x).
1. w() .
2. , ( ).
3. , , x.
(. . 15.1).
w()

0
u0
x

y(x)w(x)
v(w(x))c(x)
. 15.1. -
{w()}. ,
, :
( x) w().
, ,
.
( ,
). .
w()
u = v(w(x)) c(x) max,
xX
x :
x argmax(v(w(x)) c(x)),
xX
(, ).
v 0 (w(x ))w0 (x ) = c0 (x )
.
, , , .
u0 maxxX (v(w(x)) c(x)). maxxX (v(w(x)) c(x)) < u0 ,
. u0 , . ,
, ,
.
, w(). , x
15.1.
554
v(w(x))
c(x)
x
x
. 15.2.
= y(x ) w(x ). ,
1 .
, :
= y(x ) w(x ) max
w()
x argmax(v(w(x)) c(x)),
xX
v(w(x )) c(x ) > u0 .
(PA1)
(PA2)
(PA1) . (PA2) . v(w(x ))

c(x ) < u0 , , ( , , ). ,
, ;
()2 .
x , ,
, . ,
x . . . w(), x ,
:
= y(x ) w(x ) max
x ,w()
v(w(x )) c(x ) > v(w(x)) c(x), x X,

v(w(x )) c(x ) > u0 .
(, .)
,
.
,
= y(x ) w(x ) max
x ,w()
v(w(x )) c(x ) > u0 .

1
, .
: .
.
2
15.1.
555
w = w(x ), x = x , :
= y(x) w max
x,w
v(w) c(x) > u0 .

x w
. , ,
, .
, .
(
x, w).
( )
x:
= y(x) v 1 (c(x) + u0 ) max .
x
x
, ,
1
w
= v (c(
x) + u0 ).

y 0 (
x) =
c0 (
x)
.
0
v (w)
y(x)
v 1 (c(x)+u0 )
w
x
x
. 15.3. , x
w
- u, ( , :
), . . 15.4.
u
u0
. 15.4. -
?
, , .
, w() ,
v(w(x)) c(x) max
xX
15.1.
556
x
w
= w(
x).
, v(w(x)) c(x) + u0
(
x, w).
c() y() w(),

w0 (
x) =
c0 (
x)
(= y 0 (
x)).
0
v (w)
v 1 (c(x)+u0 )
y(x)
w(x)
x
x
. 15.5. ,
, ,
, :
x = x
, w() w(x) 6 v 1 (c(x) + u0 ) x X w(
x) = w
.
( ) w(),
x = x (w()), v(w(x)) c(x).
: x, y(x)v 1 (c(x)+
u0 ) , , , .
, .
1) ( , , take-it-or-leave-it).
x
, ,
w(x) =
0,
x 6= x
,
w,
x=x
.
( , w = 0 .)
0, x < x
,
w(x) =
w,
x>x
.
(. . 15.6).
, x
w
:
x
=x
w
= w.
2) :
w(x) = a + bx.
.
w0 (
x)
= y 0 (
x) ,
b = y 0 (
x).
15.1.
557
v 1 (c(x)+u0 )
w(x)
x
x
. 15.6.
v(w(
x)) = v(w)
= c(
x) + u0 ,
a=w
b
x = v 1 (c(
x) + u0 ) b
x,
. . x
, w

w(x) = w
+ y 0 (
x)(x x
).
v 1 (c(x)+u0 )
w(x)
x
x
. 15.7.
3) :
w(x) = a + by(x).
, w0 (
x) = y 0 (
x), , b = 1. , .
A = a ( = A). . .
w(x) = y(x) A.
, ,
A = y(
x) w.
, , , .
. ,
, , , .
15.2.
558
y(x)
v 1 (c(x)+u0 )
w(x)
x
x
. 15.8.
15.1.1
/ 610. , [0, 1] y
. y . y > 0 (1 )y y 2 ,
.
(1) .
(2) , (r )? , ? , .
/ 611. [Varian] P - A. , A , ,
. P x w ,
x , A, w ,
. A x w ,
w x2 /2. A .
(a) P x w , ,
A , A
?
(b) , P w(x) =
ax + b A x. a b
P ? P
, w(x) ?
15.2
S. A. Ross: The Economic Theory of Agency: The Principals Problem, American Economic
Review 63 (1973): 134139 S. J. Grossman and O. D. Hart: An Analysis of the Principal-Agent
Problem, Econometrica 51 (1983): 746
, , , , ,
,
.
.
, , . , ,
, , -
15.2.
559
.
.
. , ,
, , .
15.2.1
, x, . (), y ,
() , x:
y Fx .
{Fx } x. Fx () .
( , , y
, s S .)
,
( , y ) x. ,
y ,
( ). .
, , ,
. , Fx ()
x, . .
Fx1 (y) > Fx2 (y) x1 < x2 .
3 , Fx2 Fx1 x1 < x2 . (
.) ,
, :
Ex1 y < Ex2 y x1 < x2 .
Fx , , ,
x . ,
Ex . , , . .
. . .
Ex = Ex (
y w),
w
, , , .
U = Ex u
u(x, w), , , x
w.
, , ,
,
, u0 :
Ex u > u 0 .
, u(x, w)
. :
u(x, w) = v(w c(x))
3
, .
15.2.
560
u(x, w) = v(w) c(x),

v() , c() .
w x ( -
w ), v(),
( , w ). v(),
v(z) = z .
,
u(x, w) = w c(x).
, , , v() 4 . , v() . , v()
, .
x ,
() x. , y , ,
( ). w = w(y).
, , , ,
, .
, .
:
1. w().
2. , .
3. , , x.
4. x Fx y .
y , ,
, .
w()
0
u0

x
[Fx ]

Ex (
y w(
y ))
Ex u(w(
y ),x)
. 15.9. -
, v() w , x .
, x .
15.2.
561
. w() :
U = Ex u(w(
y ), x) max .
xX
, :
Ex = Ex (
y w(
y )) max
x ,w()
x argmax Ex u(w(
y ), x)
xX
( ),
Ex u(w(
y ), x ) > u0
( ).
, x , ,
: , ,
5 .
,
. . , ( , ), ,
x w :
Ex (
y w) max
x,w
Ex u(w, x) > u0 .
w , x ,
u(w, x) . , :
Ex y w max
x,w
u(w, x) > u0 .
(15.1)
, , , , - , u0
.
w ( ).
. , w
, ( , ),
. ,
. ( ), w
Ex w
,
.
u(x, w) = v(w) c(x),

5
, ( ).
15.2.
562
w , :
Ex y v 1 (c(x) + u0 ) max .
x
()
, (
x, w).

() x
,
w
= v 1 (c(
x) + u0 ).
, y(x)
Ex y . ,
w(), x.
(, .) w(x) v 1 (c(x) + u0 ) (
x, w).
-
: Ex (
y w)
Ex v(w)
c(x).
, . , 6 y . ,
( )
:
w(y) = a + by.
, :
w(y) = y A.
, w(y) .
.
147:
, -
(
x, w).
: Ex (
y yA) = A,
Ex (
y A) c(x) = Ex y A c(x).
x .
Ex y A c(x) max .
xX
(), v 1 (w) = w .
, x
. A
( u0 ):
A = Ex y c(
x) u0 .
Ex y c(x) u0 , ,
().

6
, , - , .
15.2.
563
, 7 ,
, , . (
- , .
, .) ,
, , . , , ,
, .
148:
, w() , w
= w(
y ) ,
, ,
.
: , w

.
, ( ).

, - ,
w
= y A . , .
, , - , w(
y)
. , , , x = min(X) ( ). , -
,
, , ,
.
, . : ,
x = min(X),
(. . , ).
. ,
, ( , , ).
, :
.
, , y
x . ,
y
,
. ,
, .
7
, ,
.
15.2.
15.2.2
564
: (xa , a =
1, . . . , k ) (ys , s = 1, . . . , m).
x , x a c(xa ) =
ca , , xa a.
a y ,
:
y1
y2
ym
a1
a2
am
as > 0 s- ,
P
a. s as = 1. , ys
s. ,
( ), . .
s
X
s=1
as >
s
X
bs ,
s = 1, . . . , m 1, a < b.
s=1
( ,
) (. 15.1).
15.1.
y1
ym
a=1
..
.
11
..
.
1m
..
.
c1
..
.
a=k
k1
{as }
km
ck
, 8 :
u(a, w) = v(w) ca .
ws = w(ys ) ys
ws . , w =
{ws }. , as w
.
( a)
U (a, w) = Ea [v(w)
ca ] =
m
X
as v(ws ) ca ,
s=1

e (a, w) = Ea = Ea (
y w)
=
m
X
as (ys ws ).
s=1
8
( - ) 637 . 579.
15.2.
565
:
e (a , w) max
a ,w
U (a , w) > U (a, w), a = 1, . . . , k,

( ),
U (a , w) > u0
( ).
, ,
. , a , w = w(a ), ,
() a .
we (a, w) = Ea w
=
m
X
as ws .
s=1
:
we (a , w) min
w
U (a , w) > U (a, w) a = 1, . . . , k,
U (a , w) > u0 .
, . . ws = ws (a ).
e (a , w(a )). a = 1, . . . , k
, , e (a , w(a )) .
, , , . .
. ,
( ).

u(a, w) = v(w) ca ,
(
) vs = v(ws ).
,
, vs :
e (a, v) =
m
X
as (ys f (vs )),
s=1
f () v 1 (). ( v() , f () , f () ). vs v()

.
.
, , ,
, , (a = 1; ,
ca , a). , (
) , .
w
. , w
= f (u0 + c1 ), . .
v(w)
c1 = u0 .
15.2.
566

, ( ). H L ( ).
, , :
s
X
s
X
Ls >
s=1
Hs ,
s = 1, . . . , m 1.
s=1
, e (L, w(L)), e (H, w(H)), ( ),

e (a, w(a)), a = L, H .
a (a = L, H ) w(a).
a,
m
X
as (ys ws ).
s=1
( , , ,
.)
, a,
m
X
as v(ws ) cL ,
s=1
, , a = L, :
m
X
Ls v(ws ) cL >
Hs v(ws ) cH ,
s=1
s=1
m
X
m
X
Ls v(ws ) cL > u0 ,
s=1
( )
m
X
s=1
Ls ws min
w
(, m
s=1 Ls (ys ws ) maxw )
.
, ():
y1 , y2 . (
) H1 < L1 , , , H2 > L2 .
L.

P
L1 v1 + L2 v2 cL > H1 v1 + H2 v2 cH .
, H2 > L2 :
v2 6
L1 H1
cH cL
v1 +
.
H2 L2
H2 L2
15.2.
567
(L1 + L2 = 1, H1 + H2 = 1),
v2 6 v1 +
cH cL
.
H2 L2
cL < cH . ,
(v1 , v2 ) ,
. .

L1 v1 + L2 v2 cL > u0 ,

v2 >
u0 + cL L1 v1
.
L2
, L1 /L2 .
. . (
L1 /L2 .)
f () ,
v(), f (vs ) = ws :
= L1 (y1 f (v1 )) + L2 (y2 f (v2 )).
EL
(v1 , v2 ) ( , , , ).
, .
v2
v1

. 15.10.
:
(EL )/v
L1 f 0 (v1 )
L1 v 0 (w2 )
1
=
=
L2 f 0 (v2 )
L2 v 0 (w1 )
(EL )/v
2
, , ,
L1 v 0 (w2 )
L1
=
.
L2 v 0 (w1 )
L2
. . v 0 (w1 ) = v 0 (w2 ), v 0 (), , w1 = w2 , .
, a = L, (v1 , v2 ), , , ,
15.2.
568
, . , , . . v1 = v2 .
, , . , . (. . 15.10.)
, a = L : w1 = w2 = w
( ),
, .
, cL < cH .
, w1 = w2 = w
, cL = cH . ,
, ,
v cL > v cH ,
cH > cL ,
, , L,
, L , H ,
.
, H .
H1 v1 + H2 v2 cH > L1 v1 + L2 v2 cL .
, L (
), :
v2 > v1 +
cH cL
.
H2 L2

H1 v1 + H2 v2 cH > u0 ,

v2 =
u0 + cH H1 v1
.
H2
H1 /H2 . , . .
,
.
, ,
(. . 15.11).
H1 /H2 ,
( , L).
,
(. . 15.12).
A, h,
i. , B , , A (
i0 ). B -
( ), - . , B ,
15.2.
569
v2
v1
. 15.11.
v2
h
B
i0
i00
i
v1
. 15.12. ,
H L. ,

L1 v + L2 v cL > H1 v + H2 v cH .
H L
(v1 , v2 ) , . B i00 , (L1 /L2 > H1 /H2 ).
, , .
78:
, v(w) = w + 5. , u0 , 2.
, , L, , H , , A B , ,
, :
a=L
a=H
A: yA = 5
B: yB = 25
2/3
1/3
1/3
2/3
cL = 1
cH = 2
.
, 5 15 .
15.2.
570
, , , . .
. ,

2/3wA + 1/3wB min
2/3 wA + 5 + 1/3 wA + 5 1 > u0 = 2,
2/3 wA + 5 + 1/3 wA + 5 1 > 1/3 wA + 5 + 2/3 wA + 5 2,
, vs =
ws + 5,
2
2
2/3(vA
5) + 1/3(vB
5) min
2/3vA + 1/3vB 1 > 2 ( vB > 9 2vA ),

2/3vA + 1/3vB 1 > 1/3vA + 2/3vB 2 ( vB 6 vA + 3).
, ,
.
,
vB > 9 2vA . vA ,
vB , . vB = 92vA
:
2
2/3(vA
5) + 1/3((9 2vA )2 5) min .

4/3vA 4/3(9 2vA ) = 0,
vA = 3 vB = 3. , wA = wB = 4.
, , , .
1, 5, 4.
,
.
:
2
2
1/3(vA
5) + 2/3(vB
5) min
1/3vA + 2/3vB 2 > 2 ( vB > 6 vA /2),

1/3vA + 2/3vB 2 > 2/3vA + 1/3vB 1 ( vB > vA + 3).
. ,
, , (. .
vA = vB ), vB > vA +3 .
, vB = vA + 3, :
2
1/3(vA
5) + 2/3((vA + 3)2 5) min
vA + 3 > 6 vA /2 ( vA > 2).
15.2.
571
vA , vA = 2. vB = 5, wA = 1, wB = 20.
1/3 (1) + 2/3 20 = 13. 15 13 = 2.
, .
2, 1 A
20 B .
,
.
, vA = vB = 4, wA = wB = 11.
15 11 = 4,
u0 .
.
. 15.13 .
v2
v2
10
10
2
v1
2
v1
2
10
12
. 15.13. () ; ;
() ; ,
A B
, B .
(, ), , (. 80 ).
4
m , L
H .
L ( , ), , H :

H .
L=
m
X
s=1
Hs ws + (
m
X
Hs v(ws ) cH
s=1
m
X
+ (
m
X
Ls v(ws ) + cL ) +
s=1
Hs v(ws ) cH u0 ).
s=1
, s- :
L
= Hs + (Hs Ls )v 0 (ws ) + Hs v 0 (ws ),
ws
15.2.
572
:
1
Ls
=+ 1
0
v (ws )
Hs
, , . . , v 0 (ws ) = 1/ s, :
ws = w
= const, s.
, L. > 0 .
, , . . . Hs :
Hs
= Hs + (Hs Ls ).
v 0 (ws )
s:
m
X
Hs
s=1
v 0 (ws )
m
X
Hs +
m
X
(Hs Ls ) = .
s=1
s=1
Hs > 0 s v 0 (w) > 0 w , > 0.

w0 ,
1
= ,
v 0 (w0 )
, .
, . s , (Hs > Ls ),
w0 , . . ws w0 > 0,
, Hs /Ls , . . s H .
.
, s ,
, w0 , . . ws w0 < 0.
Hs /Ls , .
: H1 < L1 .
. ,
, , (. 613 . 574).
.
79:
v(w) = w , u0 = 0. ,
, :
a=L
a=H
y1 = 0
y2 = 10
y3 = 20
0,2
0,1
0,7
0,1
0,1
0,8
cL = 1
cH = 2
15.2.
573
.
,
, , vs = ws ,

0,1v1 + 0,1v2 + 0,8v3 2 = 0,2v1 + 0,7v2 + 0,1v3 1 = 0.
v1 v2 v3 ,
v2 =
12 3v1
,
11
v3 =
26 v1
.
11

= 0,1v12 + 0,1v22 + 0,8v32 =
EH w
0,1
(121v12 + (12 3v1 )2 + 8(23 v1 )2 ).
121
v1 ,
v1 =
122
,
69
v2 =
42
152
, v3 =
.
69
69
4,23.
,
v(w) cL = u0 . ,
1.
9 17 . , .
, . , Hs /Ls (1/2 > 1/7 < 8).
4
,
,
, . ?
, . ,
. ,

( ).
, .
.
80:
, , . . v(w) = w ,
u0 1. .
a=L
a=H
y1
y2
3/4
1/4
1/4
3/4
cL = 0
cH = 10
15.2.
574

1/4w1 + 3/4w2 10 > 1

1/4w1 + 3/4w2 10 > 3/4w1 + 1/4w2 .
(
y1 y2 , )
. , ,
w2 = w1 + 20,
1/4w1 + 3/4(w1 + 20) 10 = 1,
. . w1 = 4 w2 = 16.
, ( ), . .
ws > 0 s.
w1 = 0 w2 = 20.

EH w
cH = 1/4w1 + 3/4w2 10 = 5,
.
, , ,
.
,
. ( ) (, ,
).
15.2.3
/ 612. (y ) (x > 0)
( ), 0 100 ,
y = x + . 2y w , w
. u(w, x) = w x2 /100,
0.
(w(x) = x), (w(y) = y ) (
).
(A) .
(B) -?
(C) ,
w(y) ?
/ 613. , (m > 2), , L,
15.2.
575
, H . , Hs /Ls
.
/ 614. ,
u(a, w) = w a2 , w , a (a = 1
2). , , a ( ) : y = y(a, ). , (1, 0, 1),
, .
.
a=1
a=2
1
0
1
100
100
100
1/4
1/2
1/4
u0 = 2,5. , 100 w(100) = 64.

() ?
() w()?
/ 615.
u(R, x) = R x, R = R(s) ,
s. x 1 4. s(x, )
x , , (1 , 2 , 3 ),
(1/3, 1/3, 1/3). ( s)
1
1/3
1/3
1/3
1
1
1
120
120
120
x=1
x=4
u0 = 3.
() 9 1 36 120.
? , .
() 20 .
.
() : R1 , R120 > 0 s = 1 120.
/ 616.

u(r, a) = r + 4 a, r = r(h) ,
h. a 1 3. h(a, )
a , , (1 , 2 , 3 ),
(1/6, 2/3, 1/6). ( h)
a=1
a=3
1
2
3
60
1
1
60
60
1
1/6
2/3
1/6
u0 = 4,5.
15.2.
576
() 4 1 77 60.
? , .
() 32 1 77 60.
.
() : r1 , r60 > 0 h = 1 60.
/ 617. . ( ) , x,
( ). :

1/3
1/3
1/3
x=1
x=3
60
60
60
120
120
120
u(x, w) = 3 w x. u0 = 4. , w
, .
/ 618. , x,
( = 1, 2, 3).
=1
=2
=3
1/3
1/3
1/3
x=1
x=2
0
100
100
200
200
300

u(x, w) = 120/w x(w > 0).
u0 = 4. ?
, , .
/ 619. , x,
( = 1, 2, 3, 4).
=1
=2
=3
=4
1/4
1/4
1/4
1/4
x=1
x=2
x=4
0
100
100
100
100
100
100
u(x, w) = w x.
u0 = 8.
15.2.
577
() = 200.
() = 180.
() -?
/ 620. . a (a = 1, . . . , k ) ys (s = 1, . . . , m) as . u0 ,
v(w) ca , w , ca , a.
(1) , , ,
(w(y) = const), , .
(2) , , . . v 0 (w) . , (ca = const), ()
.
(3) , , y2 > y1
b2 > a2 a, b. , () ca > cb , (b) ca < cb .
/ 621. K ,
( ). () a
, a = L a = H ,
. L , H , L > H , cL , cH
. u(x) = ln x ca ,
x .
, .
. ( , , , . . (x1 , x2 ), x1 ,
, x2 .)
() , , L,
, x1 = x2 , . . .
.
() , , H ,
(x1 > x2 ). .
() ?
/ 622. , , , ,
:
) , ;
) ( ) ;
) ;
) ;
) ;
) ;
) , ;
) ;
) , , ;
) ( )
, ;
15.2.
578
)
.
.
/ 623. , . :
,
() x, c(x) .
, .
/ 624.
u(w, x) w
. ,
.
/ 625.
u(w, x) , w
. , ,
,
.
/ 626. . :
, -.
, .
/ 627. , . :
, ws , () (ws 6= wt s 6= t),
() b, c(b) > minxX c(x)? ,
, , .
/ 628. , . :
(),
-? , , , .
/ 629. . 1. ,
:
a=L
a=M
a=H
y1 = 0
y2 = 50
3/4
1/2
1/4
1/4
1/2
3/4
cL = 1
cM = 3
cH = 4
(A) , , ( , ).
(B) .
/ 630. ,
.
?
/ 631. .
, , . ,
, ,
.
/ 632. ( )?? , 78
. 569 , w > 0.
15.2.
579
() , . ,
. .
() ,
.
/ 633. , ws > w ( ), , , , .
/ 634. , , ,
ws > w . , w , , , ,
, , w > w .
/ 635.
,
.
.
/ 636. , .
/ 637. [Tirole] : (H ) (L). v(w), v(w c),
w , c , . v() ( ).
w0 ( v(w0 )).
, y1 y2 , y1 < y2 .
, y2 H y1
1 H . , y2
L y1 1 L , L < H .
(A) , . , , ,
w1 = w2 = w0 , , w1 = w2 = w0 + c.
(B) , (A)
, (H L )(y2 y1 ) > c.
(C) , , .
.
(D) , , w2 > w1 .
(E) , ,
.
(F) , , , , , (,
).
(G) ( ,
).
(H) ,
.
15.3.
580
/ 638. [Tirole] , w . , y , , x,
(), : y = x + . , , x, (, +), :
E() = 0. E(x + w).

u(x, w) = v(w x2 ), , v()
. -,
w0 .
(i) ,
, , .
. , ,
, .
(ii) ,
y . , w(y) = a + by . ,
, , v().
a b. (
,
.) ,
, b = 1, ,
(i).
(iii)
. , , b = 1. , v() (. .
), 0 0 .
, x X y(x), .
y(x) w(x),
15.3.
581
w(x) x . y(x)
,
. , , , . . y(x) = x.
( , ,
9 ), , ,
, , .
( ).
x , (, , )
, x . , :
E(x w(x )),
. (n)

n
X
(x w(x )),
=1
??? ?
,
:
u (x, w) = v (w) c (x),
, , v (w) w , c (x) x
. , v (w) , c (x)
.
v (w) c (x).
, , v (w) = w .
x , , ,
, w . (x , w ) .
(, , ) , ,
w(x),
. ,
, , , .
15.3.1
. ,
u0 ,
. ( u0 ,
.) ( u0 ), , u0 .

. :
0. .
9
,
.
15.3.
582
1. , , (x , w ),
.
2. ( ) : , , - .
. ( ,
, ??? - ..)
, ).
, , . , : (x , w ) , .
, : (1)
( ), (2)
( ). ,
, , ,
.
, :
E = E(x w ) max
w ,x
w c (x ) > w c (x ), , ,
w c (x ) > 0, .
, ,
. , , , , ,
, .

, , , : = 1, 2. 1- 1 , 2- 2 . ,
, . .
, ,
:
c2 (x) > c1 (x)
c02 (x) > c01 (x) x.

, d(x) = c2 (x) c1 (x) x. ,

( ).
{1, 2}
, . . (x , w ).
,
(
x , w
), .
x
, .
15.3.
583
.
: w = c (x ). :
x c (x) max
xX
, x
1 >
x
2 . . , x
1 x
2 , ,
x
1 c1 (
x1 ) > x
2 c1 (
x2 )
x
2 c2 (
x2 ) > x
1 c2 (
x1 ).
,
c2 (
x1 ) c1 (
x1 ) > c2 (
x2 ) c1 (
x2 ),
d(
x1 ) > d(
x2 ).
x
1 > x
2 d(x).
,
c02 (x) > c01 (x) x.
, (. . 15.14):
c0 (
x ) = 1.
w
i , ,
. .
w
= c (
x ).
. 15.14. w
1 1-
A B c1 (0), w
2 2- A + C + c2 (0).
c02 (x)
c01 (x)
1
B
x
x
2
x
1
. 15.14.
, ,
, , ,
15.3.
584
. , :
E = E(x w ) = 1 (x1 w1 ) + 2 (x2 w2 )
max
w1 ,x1 ,w2 ,x2
w1 c1 (x1 ) > w2 c1 (x2 )

( 1- ),
w2 c2 (x2 ) > w1 c2 (x1 )
( 2- ),
w c (x ) > 0, = 1, 2
( ).
, ( ) ()
. , ,
c2 (x1 ) c1 (x1 ) > c2 (x2 ) c1 (x2 ),
d(x1 ) > d(x2 ),

d(x) , x1 > x2 . 1- c1 (x) ,
w1 w2 > c1 (x1 ) c1 (x2 ) > 0,
. . w1 > w2 .
, .
, . .
1. ,
, . . . ,
1- 2- , , c2 (x) > c1 (x) x, ,
:
w1 c1 (x1 ) > w2 c1 (x2 ) > w2 c2 (x2 ) > 0.
2. , 1- ( ). ,
, w1 , , . ( 1-
, 1- ,
2- .)
3. , . , , . ,
. ,
( ),
.
, w
1 , w
2 , x
1 , x
2
w
1 c1 (
x1 ) = w
2 c1 (
x2 )
15.3.
585
w
2 c2 (
x2 ) = 0,
w
2 = c2 (
x2 ), w
1 = c1 (
x1 ) + c2 (
x2 ) c1 (
x2 ),
,
c2 (
x2 ) c2 (
x2 ) > c2 (
x2 ) c1 (
x2 ) + c1 (
x1 ) c2 (
x1 ),
d(
x1 ) > d(
x2 ).
(d(x) ) x1 > x2 .
, 2-
.
w
1 w
2 ,
x
1 x
2 :
1 (x1 c2 (x2 ) + c1 (x2 ) c1 (x1 )) + 2 (x2 c2 (x2 )) max
x1 ,x2 X
x1 > x2 .
(
x1 > x2 ), ,
, .
1 > 0 2 > 0, , x1 > x2 ,
, , , x
1 ,
x
2
x1 c1 (x1 ) max .
x1 X
1
x2 c2 (x2 ) (c2 (x2 ) c1 (x2 )) max .
x2 X
2
, ( x
1 )
, . ,
. 2- x
2 ,
1
2 (c2 (x2 ) c1 (x2 )).
, , , x
2 x
2 ,
x
2 > x
2 . , x
2
x
2 c2 (
x2 ) > x
2 c2 (
x2 ),
x
2
x
2 c2 (
x2 )
1
1
(c2 (
x2 ) c1 (
x2 )) > x
2 c2 (
x2 ) (c2 (
x2 ) c1 (
x2 )).
2
2
,
c2 (
x2 ) c1 (
x2 ) > c2 (
x2 ) c1 (
x2 )
d(
x2 ) > d(
x2 ),
.
, x
1 , x
2 , x
2 , x
1 > x
2 > x
2 . , x1 > x2
.
15.3.
586
, x
1 > x
2 , c02 (x) > c01 (x) x.
.
x
1 , x
2 :
c01 (
x1 ) = 1,
c02 (
x2 ) = 1
1 0
[c (
x2 ) c01 (
x2 )].
2 2
c02 (x) > c01 (x), c02 (

x2 ) < 1. , x
2 6= x
2 , x
2
2- . x
2 6 x
2 , , ,
2- , ( x
2 < x
2 ).
x
1 1- , x
1 > x
2 , x
2 2- .
x
1 > x
2 > x
2 .
c ()
x
1 x
2 .
x
1 . x
2 , , c2 (x) c1 (x)(
c02 (x) c01 (x)).
x
1 = x
1 > x
2 > x
2 .
, 2- ,
1- .
. 15.15 .
c02 (x)
c01 (x)
1
x
x
2
x
2
x
1 =
x1
. 15.15.
, , , c2 (
x2 ) > c1 (
x2 ),
w
1 c1 (
x1 ) = w
2 c1 (
x2 ) > w
2 c2 (
x2 ) = 0
, 2-
( ), .

, ,
, .
15.3.
587
(. 15.16). OA
2- , OB 2- ,
OC 1- , OD
1- .
(x2 , w2 ), -. -
1- .
c2 (x)
w
1
w
1
w
2
w
2
O
c1 (x)
x
2
x
2
A
B
x
1 =
x1
c1 (x1 )+c2 (
x2 )c1 (
x2 )
C
D
. 15.16.
81:

c1 (x) = 0,5x2 ,
c2 (x) = x2 ,
X = R+
1 (x1 x22 + 0,5x22 0,5x21 ) + 2 (x2 x22 ) max .
x1 ,x2
x
1 = 1, x
2 =
1
.
2 + 1 /2
:
w
1 = 0,5
x22 + 0,5
x21 =
w
2 = x
22 =
1
+ 0,5,
2(2 + 1 /2 )2
1
.
(2 + 1 /2 )2
x
2 = 0,5.
1 = 0, 2 = 1.
1-
w
1 0,5
x21 =
1
> 0.
2(2 + 1 /2 )2
15.3.
588
. , , , . ,
, , ,
, , .
. ,
1- , :
x w max
w,x
w c1 (x) > 0
( 1- ),
w c2 (x) 6 0
( 2- ).
(
x, w)
w
= c1 (
x), . .
1- . 2- , c1 (x) 6 c2 (x). ,
(
x1 , w
1 ) 1- .
, , . , , . ,
, (
x1 , w
1 ).
.
n , . . =
{1, . . . , n}.
,
c (x) > c (x) (x X) > ,
c (x) c (x) x > .
cn1 (x)
cn (x)
c2 (x)
c1 (x)
. 15.17. ??
15.3.
589
,
X
(x w ) max
w ,x
w c (x ) > w c (x ), , ,
(])
w c (x ) > 0, .
, : . , (]) :
X
(x w ) max
w ,x
w c (x ) = w+1 c (x+1 ), < n,
(_)
wn cn (xn ) = 0,
x > x+1 , < n.
, , :
1) ,
( x ).
2) , ( < n) ,
+ k k > 1, ,
k = 1. = n.
3) . , ( < n) (w , x )
(w+1 , x+1 ), = n
.
, , , , .
149:
, (])
(_).
: 1) {w , x } (]). ,
.
, , > .
:
w c (x ) > w c (x ),
w c (x ) > w c (x ).
,
c (x ) c (x ) > c (x ) c (x ).
c (x) c (x) , , x > x .
2) , < n (w , x ) ,
(w+1 , x+1 ), , , < n (w , x ) ,
(w+k , x+k ), k > 1 (k 6 n ).
15.3.
590
. k = 1 . , k ,
k + 1.
w c (x ) > w+k c (x+k ),
w+k c+k (x+k ) > w+k+1 c+k (x+k+1 ),
w c (x ) > w+k+1 c (x+k ) + c+k (x+k ) c+k (x+k+1 ).

, , x+k > x+k+1 , c+k (x) c (x) ,
c+k (x+k ) c (x+k ) > c+k (x+k+1 ) c (x+k+1 ),

, ,
w c (x ) > w+k+1 c (x+k+1 )
, . , + 1 = n
< n, . ,
w c (x ) > w+1 c (x+1 ),
w+1 c+1 (x+1 ) > 0,

w c (x ) > 0.
3) (])
w c (x ) > w+1 c (x+1 ), < n,
. , , , w , > , ,
( , , , ). ,
, .
,
wn cn (xn ) > 0,
wn cn (xn ), .
, (])
(_).
4) , {w , x }
(_), (]).
, > n, , , .
n (_) .
.
. = . ( >
)). , 1.
15.3.
591

w c (x ) > w c (x )
(_)
w1 c1 (x1 ) = w c1 (x )
,
w c (x ) > w1 c1 (x1 ) + c1 (x ) c (x ).
(_) x1 > x , c (x) c1 (x) ,
c (x1 ) c1 (x1 ) > c (x ) c1 (x ),
w c (x ) > w1 c (x1 ).
( )
. , (_)
w
c (
x ) = w
+1 c (
x+1 )

x
> x
+1 .
, w
6 w
+1 , ( ).
, , , .

w
c (
x ) (> 0).
,
w
c (
x ) = w
+1 c (
x+1 ) > w
+1 c+1 (
x+1 ).
- , . n-
. , , ,
( ).
{w
} {
x } :
w
n = cn (
xn ),
w
n1 = w
n cn1 (
xn ) + cn1 (
xn1 ) = cn (
xn ) cn1 (
xn ) + cn1 (
xn1 ),
. . w
= w
(
x , . . . , x
n ).
w
(x , . . . , xn ) =
n
X
(ck (xk ) ck1 (xk )) + c (x ).
k=+1
, (_) :
X
(x w
(x , . . . , xn )) max
x
x > x+1 , < n.
15.3.
592
, x ,
:
X
[ (x c (x )) M1 (c (x ) c1 (x ))] max
x
x > x+1 , < n.

M = 1 + + .
{x }, , x > x+1 , n
:
x c (x)
M1
(c (x) c1 (x)) max .
xX
, 2 x
1 , x
2 x
1 > x
2 , .
, 3 x > x+1 .
82:
, 2 , 81,

c1 (x) = 0,5x2 , c2 (x) = x2 ,
3-
c3 (x) = 1,5x2 .

x c3 (x)
1 + 2
(c3 (x) c2 (x)) max
3
:
x
3 =
1
.
3 + (1 + 2 )/3
2- , 2 , , 2-
:
1
1
<
,
2 + 1 /2
3 + (1 + 2 )/3
. 2 < 1 3 . , 1 = 3/8, 2 = 1/8, 3 = 1/2 x
2 = 1/5 x
3 = 1/4.
, ,

2 (x c2 (x)) 1 (c2 (x) c1 (x)) +
+ 3 (x c3 (x)) (1 + 2 )(c3 (x) c2 (x)) max
(2 + 3 )x (2 + 2 + 3 )
x2
max
2
15.3.
593
:
x
2 = x
3 =
2 + 3
,
2 + 2 + 3
2 + 3
w
2 = w
3 = c3 (
x3 ) = 1,5
2 + 2 + 3
!2
81 x
1 = 1, :
w
1 = w
2 + c1 (
x1 ) c1 (
x2 ) = 0,5 +
2 + 3
2 + 2 + 3
!2
1 = 3/8, 2 = 1/8, 3 = 1/2 x

2 = x
3 = 5/21.
, x2 > x3 ,
, ,

3 1 2
.
2 + 2 + 3
4
, 2 < 1 3 .
c3 (x)
c1 (x)
c2 (x)
w
1
w
2 =w
3
x
x
1
. 15.18. , 3
:
: x
> x
+1 .
: : x
= x
+1 , w
= w
+1 (
(bunching)).
. ,
, . . () .

, ,
.
, ,
d (x) = c+1 (x) c (x).
, d (x) . ,
d+1 (x) d (x) .
15.3.
594
(_) ( x > x+1 ):

X
(x w ) max
w ,x
w c (x ) = w+1 c (x+1 ), < n,
(^)
wn cn (xn ) = 0.
, n .
150:
, d (x) d+1 (x) d (x) x

(^) (_) .
M1
: , {
x }
M1
(x) = x c (x)
d1 (x) max .
xX
().
x
(x), x
+1 +1 (x),
(
x ) > (
x+1 )
+1 (
x+1 ) > +1 (
x ).
, :
M1
M
M1
[d (
x ) d1 (
x )] + 1 +
+1
d (
x ) >
M
M1
M1
[d (
x+1 ) d1 (
x+1 )] + 1 +
>
+1
d (
x+1 ).

M1
M
M1
[d (x) d1 (x)] + 1 +
+1
d (x)
, x
> x
+1 .
, , x
> x
+1 .
M1 0
d (
x ) = 0.
1
M 0
0+1 (
x+1 ) = 1 c0+1 (
x+1 )
d (
x+1 ) = 0.
+1
=x
.
0 (
x ) = 1 c0 (
x )
x
= x
+1
0+1 (
x) 0 (
x) = c0+1 (
x) c0 (
x) +
M
M1
1+
+1
x) +
d0 (
M 0
M1 0
d (
x)
d (
x) = 0
+1
1
M1 0
(d (
x) d01 (
x)) = 0.
M
> 1
, d0 (
x) > 0, d0 (
x) d01 (
x) > 0, .
+1
, . . x
6= x
+1 .
15.3.
15.3.2
595
, x X y(x),
, (Fx ) x,
(Fx = Fx ). , y(x) = Ex y(x) , y(0) = 0.
, . ,
, y : w = w(x).
( ).
x
Ex (
y (x) w(x)) = y(x) w(x),
w(x) x .
. ,
, ,
. x , . ( ,
x .) ,
:
E [Ex (
y (x ) w(x ))]
, ,
E [y(x ) w(x )].
,
:
u (x, w) = v (w) c (x),
, , v (w) w , c (x) x
. , v (w) , c (x)
.
v (w) c (x).
u0 , .

. :
0. .
1. , , w().
2. ( ) , .
3. , ( ) x.
4. x Fx y(x).
, .
x , ,
v (w(x)) c (x) max .
xX
15.3.
596
w()
0
u0

x
[Fx ]

y(x )w(x )
v (w(x ))c (x )
y
. 15.19.
v(w(x))
c2 (x)
c1 (x)
x
x2
x1
. 15.20.
, , .
,
, ,
. ,
max v (w(x)) c (x) > u0 .
xX
10 , v (w) = w .
:
w(x) c (x) max,
xX
c (x) c (x) + u0 .
y(x) , . ,
, , . .
y(x) = x.
I??? () , 1,
, 0 .
10
.
: , .
15.3.
597
:
E = E[I(w(x) c (x) > 0)(x w(x ))] max
w()
w(x )
c (x )
> w(x) c (x), x X, ,
, ,
. ,
. ,
/ . ,
.
,
c (x) > c (x)( x X) > ,
, , ,
< , . .
w(x) c (x) > 0 w(x) c (x) > 0.
, , , ,
, > , . .
w(x) c (x) = 0 > w(x) c (x) 6 0.
, ,
,
. , ,
, . . ,
, .
. :
E = E(x w(x )) max
w(x )
w()
c (x ) > w(x) c (x), x X,

w(x ) c (x ) > 0, .
, ,
, , , x :
E = E(x w(x )) max
w(),x
w(x )
c (x ) > w(x) c (x), x X,

w(x ) c (x ) > 0, .
(f)
. , ,
{x } w() . X {x } .
15.3.
598
: x , , ,
, w . (x , w ) ,
, . :
E = E(x w ) max
w ,x
w c (x ) > w c (x ), , ,
w c (x ) > 0, .
.
c ()
, , , .
w() , w = w(x ), , w(), {x }
( (f)). , w(), {x }
( (f)), (w(x ), x ) .
, {w
, x
}
( ,
).
, . . :
w,
x<x
n ,
w(x) = w
, x [
x , x
1 ), > 1,
w
1 , x x
1 ,
x = x
w . ( w
w ,
, x
1 , . . . , x
n .)
, x
, w
: x (
x , x
1 ) x = x
, x

x
.
w
1
c3 (x)
w
2
w
3
x
w
x
3
x
2
x
1
. 15.21. 3
, . , w(),
.
x
. {w
, x
}, w
= w(
x ),
15.3.
599
(]).
{w
, x
}.
, w()
x argmax{w(x) c (x)}
{w(x ), x }. , , (]) ,
.
.
, w() . , w()
(x , w ), (
).
, w() . ,
,
w(x) = a + bx: (x , w ) , ,
, , . ,
, .
15.3.3
/ 639. ( );
.
, , ?
/ 640. ( );
.
?
/ 641. ( );
.
, , ?
/ 642. , t ct (x) = tx2 , t = 1, 2, 1 = 2 , t
t.
( , ).
/ 643. ,
1- c1 (x) = x2 , 2- c1 (x) =
x2 , .
.
/ 644. ,
1- c1 (x) = x2 , 2- c1 (x) =
2x2 .

.
15.3.
600
/ 645. ,
1- c1 (x) = x2 , 2- c1 (x) =
2x2 , .
1- , , 2-
.
/ 646. .

8. 1/3
u
=
12
+
wQ, 2/3
1
u2 = 5 + w Q, w , Q
.
u0 = 1.
{(Q1 , w1 ), (Q2 , w2 )} ( ).
/ 647. n ( = 1, . . . , n) , = n1 , c (x) = c(x), c(x) ,
, . .
n .
/ 648. c (x) = x, y(x)
, . ,
( x
, w
) ,
.
(A) , , 1 2 , 1 < 2 ,

y 0 (
x2 ) = 2 +
1
(1 2 ),
2
y 0 (
x2 ) = 1 .
(B) , , 1 , 2 3 , 2 1 = 3 2 >
0, ,
2 < 1 3 . , 2 < 1 3 2 > 1 3 .
() , n ,
i i1 = i+1 i > 0,

1 + + i1
.
i
, , , .
/ 649.
x > 0, y(x) :
(1) y 0 (x) x 0;
(2) y 0 (x)x 0 x 0,
, (c (x) = x). , , . . x
> 0 .
15.4.
601
/ 650. ,
. ,
v (x) = x, = 1, 2.
1 . .
.
/ 651. ,
1- c1 (x) = 0,5x2 , 2- c1 (x) =
x2 . (
, ).

. .
/ 652. 11 L H .
K . ( )
u(x) = ln(x), x .
,
. ( ,
, , . .
(x1 , x2 ), x1 , , x2
).
() .
() ,
. . , ?
.
() ,
. . , ? .
15.4
, , , .
, .
, , ,
. ,
( ).
:
0. .
11
. J. E. Stiglitz: Monopoly, Non-Linear Pricing and Imperfect Information: The Insurance Market, Review of
Economic Studies 44 (1977): 407430.
15.4.
602
1. j , , wj (),
.
2. ( ) , , , .
3. j - , ( )
x.
w1 ()
w2 ()

0
0
0
x1
x1 w1 (x1 )
0
w1 (x1 )c (x1 )
x2
x2 w2 (x2 )
w2 (x2 )c (x2 )
0
. 15.22.

, .
:
0. .
1. (wj , xj ).
2. , , ,
.
, . ,
.
, , ( ).
, ,
(
xj , w
j ) :
( ) (wj , x
j ), :
w
j c (
xj ) > w
i c (
xi ), , , i = 1, 2.
,
, .
15.4.
603
( ),
, .
j (w
j , x
j ),
.
, ,
.
, , ,
. , ( (w
j , x
j )) :
x
j = x
= x
,
w
j = w
= x
,
x
= argmax{x c (x)},
x
2 . -, ,
. ,
(, j = 1) ,
(1 > 0). : (1) 2-
, ,
(2) .
(1 = 2 > 0).
2- ,
. , 2- , . (1)
1 , (2) 21 = 22 .
, , , ,
:
w
j = x
j .
-, , ,
x
j = x
= x
.
, , , (w
j , x
j )
,
= (
x c (
x )) x
j c (
xj ) > 0.
(
x /2, x
)
, (w
j , x
j ). .

,
: x
j = x
j .
, , , .
, , .
15.4.
604
c3 (x)+
x3 c3 (
x3 )
c2 (x)+
x2 c2 (
x2 )
w
3 =
x1
w
2 =
x2
w
1 =
x3
c1 (x)+
x1 c1 (
x1 )
x
x
1 =
x1
3 =
x3
x
2 =
x2 x
. 15.23. , 3
,
W =
(x c (x ))
.
, (
x , x
) . , . -,
, . .
w
c (
x ) > w
c (
x ), , ,

x
c (
x ) > x
c (
x ), , .
x
.
-, ,
. .
, , ,
, , (
x , x
).
,
(w, x) x c (x), x
c (
x )
x
.
, .
.
, : . , ,
,
( ).
.
(w
j , x
j ) , .
-, ,
.
15.4.
605
-,
, . , . ,

, , .
,
.
, , 1 , 1 > 2 . (w
, x
) ( , ),
. 2- (w
+ , x
),
> 0. ,
(w
, x
), .
2 ( 1 + 2 ).
, .

, . . , w
j = x
j . , .
, .
.
. ,
x
j 6= x
.
, ,
x
= argmax{x c (x)}.
=x
c (
x ) (
xj c (
xj )).
> 0 (
x /2, x
) ,
j .
,
.
, (
x , x
),
. -.
.
, w(x) = x, . . , .
15.4.1
/ 653. n
c (x) = x2 . .
/ 654. . .
/ 655.
c (x) = x2 y(x) = x/ .
15.4.
606
(1) ,
.
(2) , .
(3) , , =
2 , = 1
.
(4) . , .
(5) -?
/ 656. ( 12 ). 652 . 601, , .
() ,
(
).
() ,
. .
() .
() , , .
.
() , .
() .
/ 657. 621 . 577, , .
() , ( ).
() ,
. .
()
.
() , .
() .
12
. M. Rothschild and J. E. Stiglitz: Equilibrium in Competitive Insurance Markets: An Essay on the

Economics of Imperfect Information, Quarterly Journal of Economics 90 (1976): 630649.
15.4.
15.4.2
607
( )
, :
.

13 .
: , L, , H . L ( ) yL ,
H yH , yL < yH . ( , ,
.)
,
. L
L > 0, H H > 0.
, 14 .
,
:
0. = L = H ( L H ).
1. j = 1, 2, , , w1
w2 .
2. ( ) , , , .
j L yL + yH H wj
, . wj ,
j w0 ,
. (
, . . u (w) = w c , ,
c , w0 ).
15 , y = L yL + H yH wL0 wH0 .
y , ( )
16 .
,
: ,
, .
- , .
13
, NL L NH H ,
Y = yL NL + yH NH .
14
, , , .
15
,
,
. ,
, .
.
, , .
16
, .
15.4.
608
, ( ) - ,
, , .
, , .
, , 17 .
, , ,
(), 18 a A R. ,
, , a
, . , .
a . a . A
, , , A .
,
w a A:
u (w, a) = w c (a),
c (a) ( a)
( ,
a a).
, cL (a) cH (a) . , H , L.
,
L: c0L (a) > c0H (a) a A.
, , 19 :
y = y (a),
(
a ).
, : yH (a) > yL (a) a A.
:
0. .
1. a.
2. j , , , wj ,
.
3. ( ) , , ,
.
17
M. Spence: Job Market Signalling, Quarterly Journal of Economics 87 (1973): 355374; M. Spence: Competitive
and Optimal Responses to Signals: An Analysis of Efficiency and Distribution, Journal of Economic Theory 7 (1974):
296332.
18
.
19
1973 , ( ) . , .
15.4.
609

, :
wj = wj (a).
, wj ,
wj (a).
. 15.24. , (- ) , ,
w1 w2 .
a
1
w1
w2
0
0
y (a )w1
0
y (a )w2
0
0
w2 c (a )
w1 c (a )
. 15.24.
, , wL0 wH0 yL (a) cL (a) a A. ,
,
.
, (.
??).

. a w1 , w2
w1 c (a), 1- , w2 c (a),
2- . , , , . , w1 = w2 ,
, , ,
.
. a, , .
=
(a).
(), a A,
[0, 1],
L (a) +
H (a) = 1. , (
, ,
). , y (a)
(a).
15.4.
610
y = y(a):
y(a) =
L (a)yL (a) +
H (a)yH (a).
w1 w2 , a {
},
, (, , , ). , .
y w1 0 w1 > w2 0 y w2 w1 < w2 . w1 = w2 = w y w
, , . ( , ) w1 = w2 = y ,
. ,
y .
,
(a) a,

w1 (a) = w2 (a) = y(a) =
L yL (a) +
H yH (a).
w(a).
, ,
, . :
( );
( );
( ,
, () ).
. , , .
, . H L
aL aH . wL =
w(aL ), wH = w(aH ). . , a , y (a ). , , ,
wL = yL (aL ) wH = yH (aH ).
, , L aL , aH , H aH , aL .
,
wH cH (aH ) > wL cH (aL )
wL cL (aL ) > wH cL (aH ).

w = y (a ), aL aH
yH (aH ) cH (aH ) > yL (aL ) cH (aL )
yL (aL ) cL (aL ) > yH (aH ) cL (aH ).

,
cL (aH ) cL (aL ) > cH (aH ) cH (aL ),
15.4.
611
: aL aH
L, H . (
cL (a) cH (a).)
, ,
, , aL
aH ( ).
a , ,
a :
y (a ) c (a ) > y(a) c (a) a A.
y(a)
(a). aL , aH
(), ,
.
20 , y (a) a, A
[amin , +).
, :
() aL = amin , amin = minaA a. L aL 6= amin ,
yL cL (aL ), , yL cL (amin ),
cL (a) .
L amin , yL ,
w(aL ) cL (aL ) < yL cL (amin ) 6 w(amin ) cL (amin ),
. . L amin .
() aH 6 a0H , a0H , H
yH , yL ,
amin , . .
yH cH (a0H ) = yL cH (amin ).
, aH > a0H , cH (aH ) > cH (a0H ). aH
yH , amin yL ,
yH cH (aH ) < yH cH (a0H ) = yL cH (amin ),
. . H amin . , .
() aH > a0L , a0L , L
yH , yL ,
amin , . .
yH cL (a0L ) = yL cL (amin ).
, aH < a0L .
yL cL (amin ) = yH cL (a0L ) < yH cL (aH ).
. . L aH . , .
, aL = amin aH [a0L , a0H ]. ,
, cH (a) cL (a) , a0L < a0H
.
20
, .
15.4.
612
, aL , aH , ,
(), . , :
L (a) = 1, a < aH
H (a) = 1, a > aH .
. , aH , yH ;
yL .
c (a) ,
,
. a < aH ,
yL , amin , a > aH , yH , aH .
, , (amin , yL ) (aH , yL ).
, L aL (= amin ),
yL cL (amin ) > yH cL (aH ),
H aH ,
yL cH (amin ) 6 yH cH (aH ).
, aH > a0L , , aH 6 a0H .
. 15.25. , a0L a0H , L H , ,
(yL , amin ): a0L a0H w = yH .
w
w=yL +cH (a)cH (amin )

w=yL +cL (a)cL (amin )
yH
yL
a
aL =amin
a0L
aH
a0H
. 15.25. (
a)
, , aL = amin aH [a0L , a0H ]. w(a),
.
(a).

(a) [0, 1], w(a)
yL yH . , ,

yH cH (aH ) > w(a) cH (a) a A,
15.4.
613
yL cL (amin ) > w(a) cL (a) a A.

, a > aH .
(. 15.26) . w = w(a)
L, (amin , yL ) (a0L , yH ), H , (aH , yH ),
(amin , yL ) (aH , yH ).
: ,
.
w
w=yL +cH (a)cH (amin )

yH
w(a)
yL
a
aL =amin
a0L
aH
a0H
. 15.26. (
a)
. H , aH , a0L a0H . ,
aH , H , yH cH (aH ), ,
L yL cL (amin ).
. ,
.
aH = a0L , H .
. yL , a = amin ,
, , w
= L yL + H yH
?? a = amin , . . . yH cH (aH ) w
cH (amin ) ,
0
aH > aL > amin . , w
yH ,

.
, .
.
L (yL cL (amin )) + H (yH cH (aH )) = w
L cL (amin ) H cH (aH ),

L (w
cL (amin )) + H (w
cH (amin )) = w
L cL (amin ) H cH (amin ).
15.4.
614
, (
aH ).
, , , , , . , . ,
a , ,
, : , , , .
.
:
, , , , -
.
. , , a
,
. :
w
= L yL + H yH .
a0
w
cL (a0 ) = yL cL (amin ).
a0 , L w

, yL , amin .
()
, a
6 a0 .
, a
6 a0 ,
w(amin ) cL (amin ) > yL cL (amin ) = w
cL (a0L ) > w
cL (
a)
, L a
.
0
, a
6 a ,
.
, :
L (a) = 1, a < a
L (a) = L , a > a
.
, ( amin < a
).
a < a
, yL , a > a
,
w
. a < a
a = amin . a > a

a = a
. , ,
. (yL , amin ) (w,
a
).
:
w
cH (
a) > yL cH (amin )
w
cL (
a) > yL cL (amin ).
15.4.
615
( ), . ,
a
6 a0 , a = a
. : a
, :
L (
a) = L .
, a
6 a0 . . 15.27. w(a)
, ( a
, w
).
w=w+c
L (a)cL (
a)
w=w+c
H (a)cH (
a)
yH
w
w(a)
yL
a
amin
a
a0 a0L
. 15.27. (
a)
: ,
.
:
A , ,
yH = yL . cL (a) = L a cH (a) = H a.
() , .
() ?
a0 a0L a0H ? ,
cL (a0 ) cL (amin ) = H (yH yL ),
cL (a0L ) cL (amin ) = yH yL .
H < 1,
cL (a0 ) cL (amin ) = H (yH yL ) < yH yL = cL (a0L ) cL (amin ).
cL (a0 ) < cL (a0L ) a0 < a0L . a0 < a0H .
, a
= amin . ,
. H
w
cH (amin ), L w
cL (amin ).
.
( )
.
15.4.
616
,
. , , , H a
,
L aL , a
,
. .
( 1- ).
, , ,
aL = amin w(aL ) = yL . , - w(
a)
, a
, . .
w(
a) =
L yL + H yH
,
L + H
L, a
.

L , , , (
a, w(
a))
(amin , yL ), . . ., ,
a

L yL + H yH
cL (
a) = yL cL (amin )
L + H
H (yH yL )
.
L + H
, a
, a

.
, (0, 1),
. , .
, :
cL (
a) = cL (amin ) +
L (a) = 1, a < a
L
, a > a
.
L + H
L ,
a
amin . , cL (a)cH (a) , H
, a
. ( .)
. 15.29 .
a
, ,
, . . 15.29
.
: 1- , .
2- , , L
a
, H aH ,
a
.
, . w(aH ) = yH .
, w(
a) ,
a
, . .
L yL + H yH
w(
a) =
,
L + H
L (a) =
15.4.
w
617
w=w(
a)+cH (a)cH (
a)
yH
w(
a)
w
w(a)
yL
a
a
amin
. 15.28. 1- (
a)
w
w=w(
a)+cH (a)cH (
a)
yH
w(
a)
w
w(a)
yL
a
amin
. 15.29. 1- (
a),
H , a
.
, L (amin , w(amin ))
(
a, w(
a)), , w(amin ) > yL , , a
:
yL cL (amin ) 6 w(amin ) cL (amin ) 6
cL (
a) 6 cL (amin ) +
L yL + H yH
cL (
a)
L + H
H (yH yL )
L + H
, a
6 a00 , a00
cL (a00 ) = cL (amin ) +
H (yH yL )
.
L + H
H
(
a, w(
a)) (aH , yH ), . .
L yL + H yH
cH (
a) = yH cH (aH ).
L + H
a
aH .
15.4.
618
, a

21 (amin , a00 ], . . ,
.
a
. ,
L (a) = 1, a < a
,
L (a) =
L
, a [
a, aH )
L + H
L (a) = 0, a > aH
.
,
amin , a
aH .
a
6 a00 , w(amin ) = yL , a00
L (
a, w(
a)) (amin , w(amin )).
cL (a) cH (a) ,
cL (aH ) cH (aH ) > cL (
a) cH (
a).
H a
aH ,
w(
a) cH (
a) = yH cH (aH ).
, , L a

aH :
w(
a) cL (
a) > yH cL (aH ).
, cL (a) cH (a) ,
cL (amin ) cH (amin ) < cL (
a) cH (
a).
L (
a, w(
a)) (amin , w(amin )), . .
yL cL (amin ) = w(amin ) cL (amin ) 6 w(
a) cL (
a).
, , H a

amin :
yL cH (amin ) = w(amin ) cH (amin ) < w(
a) cH (
a).
, . . 15.30 .
, ,
, a
aH , . . 15.31
2- .
: 2- , .
: , w(a). ,
.
(amin , a0 ] w(a) = w(
a)
L , (amin , yL ) .
21
15.4.
619
w
w=w(
a)+cH (a)cH (
a)
yH
w(a)
w(
a)
yL
a
amin
a
a00
aH
. 15.30. 2- (
a)

w=w(
a)+cH (a)cH (
a)
yH
w(a)
w(
a)
yL
a
amin
aH
. 15.31. 2- (
a),
. ,
. ( ) ,
.
,
.
, , .
.
, , a > a0L . a0L L
, yH (. . ), , amin .
, , H a.
, ,
, a > a0L
H (a) = 1.

.
15.4.
620
-, aH > a0L , ,
, H a > a0L .
-, 1- , ,
, H (a0L , yH )
(, , ) , (
a, w(
a)),
.
-, 2- , , H , . .
w
H (a0L , yH ).
, 2- (
).
( ) .
( ) , , L , ;
, H - , .
0 L.
, .
, ,
. a , (a , yH ) , (. . 15.32).
w
< yH , cL (a) cH (a) , a L < a H . a (a L , a H ) L , ,
w(a) 6 yH . , , w(a) yH , H , . , a

H (a) = 1. , , , w(a) = yH , H a
a
.
w
w=w+c
L (a)cL (
a)
w=w+c
H (a)cH (
a)
yH
w
yL
a
amin
a
a L
a H
. 15.32.
( a)
w
w(
a) ,
2- .
15.4.
15.4.3
621
/ 658. , yL = 1, yH = 2.
() (
y ).
() L. .
() A = R+ ,
cL (a) = a cH (a) = a/2. .
, aL = 0 aH [1, 2].
() aH [1, 2].
(a) =
L (a) , a L. ,
:
(a) = 1 a 6= aH
(a) = 0 a = aH .
() . H
?
() . , a
6 1.
() a
6 1 . ,
:
(a) = 1 a 6= a

(a) = a = a
.
() 1- . ,
a
=
1
.
1 +
() 2- . ,
a
<
1
.
1 + /
/ 659. yL = 1, yH = 2, cL (a) = a, cH (a) = a/2 A = {0, 3}.

() , , 0.
() , , , .
/ 660. A . , , , .???
/ 661. A , ,
yH = yL . cL (a) = L a cH (a) = H a.
?
/ 662. A , ,
yH > yL . cL (a) = a cH (a) = a.
?
/ 663. A A, 0 ,
, yL = 1, yH = 2, L 1/2. cL (a) = a
cH (a) = a/2. a
= ?
15.4.
622
/ 664. A , 0 ,
, yL = 1, yH = 2, L 1/2. cL (a) = a
cH (a) = a/2.
() ?
() ?
/ 665. A = {0, 1, 2, . . .}, , yL = 1, yH = ,
L 1/2. cL (a) = a cH (a) = a/2.
() ?
() ?
/ 666. , , ,
, wL0 > yL , wH0 (w,
yH ).
() .
() , - .
16.1
16
(,
, ) , , .
.
, , ,
, . . , , , ,
, ,

. : (. , . , . ), (. ),
(. ), (. ).
- .

.
,
, .
, , ,

. ,
1 ,
, ( )
, .
, , , , , . ,
( ) 2 , , ( ) ,
.
.

, , . , ,
- . , ,
, . . -
1
2
.
, .
623
16.2.
624
.
.
- ,
3 . ,
, .
16.2
, , . ,
,
.
, 4 .
16.2.1
, ,
, , ,
, .
.
1. 5
, . IBM PC, . a (a > 0) , b (b > 0) .
. (c > 0), ,
.
J
( 1 2)
, IBM Mac. () 2 2. : (IBM, IBM), (IBM,
Mac) (Mac, IBM) (Mac, Mac). ;
6 . ,
, ,
7 .
:
F ,
F , ,
F .
3
, , .
,
( ) .
5
Battle of sexes .
6
. ,
,
. , ,
. .
, .
7
.
4
16.2.
625
16.1.
1
IBM
Mac
IBM
a+c
Mac
b
a
b+c
c
, , .
8 . , , , .
, , ,
. .
, m ,
.
( ) I :
I = {1, . . . , m}
i- i-
Xi . i- , ,
xi . . . .

x = (x1 , . . . , xm ), x X1 Xm = X
, ( ). i-
ui (). . , i I
ui : X 7 R
, ,
G = hI, {Xi }I , {ui }I i
.
, , .
.
2.
. : (A) (B).
- ( ).
, 1/2,
, 1/10, , 1/100.
8
.
: J. von Neumann: Zur Theorie der Gesellschaftsspiele,
Mathematische Annalen 100 (1928): 295320 (. . . : , .
, . . (.), . . : , 1961: 173204). . J. von Neumann
and O. Morgenstern: Theory of Games and Economic Behavior, Princeton University Press, 1944 (. .
. . : , .: , 1970).
16.2.
626
, , 1000 . .9 ,
200 . . ,
100 . .
J
16.2.1 , ,
.
( ).
16.2.
102
20
110
200
120
100
100
500
, , , 10 . , ,
. ,
( )
.
, (A, A).
, (1100), (300). (100),
(100). :
1
99
(1100) +
(100) = 110 ,
100
100
99
1
(300) +
(100) = 102 .
100
100
. 16.2.
,
, .
16.2.2
,
, , , . ,
, .
9
.
, , ,
,
( ). ( ) . ??? ().
; . . , . , , .: , 1970.
10
16.2.
627
16.3.
1
IBM
Mac
IBM
Mac
3
2
4
1
16.2.1 (. 624) , , a = 2, b = 3, c = 1 ( 16.3). ,

2- , 1- IBM PC, 3 > 0 2 > 1. , 2- , 3 > 1
4 > 0.
: A ,
B , , A B .
.
xi , x, i-, . .
xi = (x1 , . . . , xi1 , xi+1 , xn )
, (xi , xi ). , x.
xi Xi = j6=i Xj .
84:
xi Xi i yi Xi , , , xi Xi ,
ui (xi , xi ) > ui (yi , xi ).
u1
u1 (x1 ,x2 )
u1 (y1 ,x2 )
x2
. 16.1. x1 y1 .

, (. . 16.1).
x1 y1 .
, x2 ,
x1 , , y1 .
,
.
85:
xi Xi i , , , xi Xi , i
16.2.
628
, yi Xi , . .
ui (xi , xi ) > ui (yi , xi ) xi Xi yi Xi : yi 6= xi .
. ,
.
.
,
() ,
, .
() .
86:
xi Xi i () yi Xi (, ,
yi xi ), , , xi Xi ,
ui (xi , xi ) > ui (yi , xi )
, x0i Xi ,
ui (xi , x0i ) > ui (yi , x0i )
u1
u1 (x1 ,x2 )
u1 (y1 ,x2 )
x2
. 16.2. x1 () y1 .
, ,
. x1
, y1 (. . 16.2),
x1 , y1 .
87:
xi Xi i () ,
, , xi Xi ,
, yi Xi , , . .
ui (xi , xi ) > ui (yi , xi ) xi Xi yi Xi
, xi yi , xi yi . , ,
.
88:
x X ,
.
16.2.
629
16.4.
() :
1
1
1 1
1
1 0
0
1
1
() :
1
1
1 0
0
0
0
0 0
0
, ,
. .
3.
3 : , . . .
. . , . ,
1, 1, 0.
J
(. 16.4).
.
.
,
(1 (, ), 1 (, ), 1 (, ), 0 (, ))
, . ,

(1 (, ), 0 (, ), 0 (, ), 0 (, ))
, .
.
(
):
:
(1, 1, 1, 0)
: (1,
0,
0, 0)
, (, , ).
, .
, .
,
.
11
4.
. (i = 1, . . . , n) pi .
11
W. Vickrey: Counterspeculation, Auctions, and Competitive Sealed Tenders, Journal of Finance 16 (1961):
837. 1996 .
16.2.
630
, , . ,
. i- ,
vi p, vi , p , ;
.
J
, . , , ,
, (pi = vi ). . n = 2.
( .) ,
, , 1-.
1- . 1-
, 2- (p1 > p2 ), p2 .
v1 p2 . 1- , 2- (p1 <
p2 ), 0. (p1 = p2 ),
1/2 1- v1 p2 , 1/2
0. , (v1
p2 )/2. 1- :
u1 (p1 , p2 ) =
v1 p2 ,
v p
1
0,
p1 > p2
, p1 = p2
p1 < p2 .
, , p1 = v1 , , , , .
3 : p2 > v1 , p2 = v1 p2 < v1 .
[p2 > v1 ] 2- , vi , 1- ; () ,
0. 1- ,
.
[p2 = v1 ] 2- , vi , 1-
0. , ,
.
[p2 < v1 ] 2- , vi , 1-
, .
, , v1 p2 .
, 1-
. , , .
v1 , 2-
, 1- p1 = v1 .
2- , ,
() :
p1 = v1 ,
p2 = v2
16.2.
16.2.3
631
, ,
.
, ,
.
16.5.
1
IBM
Mac
IBM
Mac
3
1
5
2
16.2.1 , a < c < b. , , a = 1, c = 2, b = 3.

2- IBM, 1- IBM. 2-
, 1- . 16.5 .
1- , 2- .
, . , , - , .
, ,
.
:
.
89:
yi Xi i ,
xi Xi , , . .
ui (yi , xi ) < ui (xi , xi ) xi Xi
, (
), , , . ,
, 12 ,
, , , .
,
, , ,
.
.
. ,
,
,
, .
12
. common knowledge.
16.2.
632
16.6.
II
III
0
3
C
1
2
6
2
2
4
2
1
8
3
, ,
,
( , , . . . ).
16.6 16.7 . 3 3 ( 16.6) II III,
III ( ,
). .
2 3 ( 16.7 )), A C. C
( , , , , ). 22 ( 16.7 )) I
II. II ( 16.7 )) , , . ,
, A B, B . ( 16.7 )),
: (I, A). , 3 3
(I, A).
16.7. ????
A
II
0
3
0
3
II
0
3
2
4
6
2
, ,
(
), ,
, 13 .
,
, .
13
,
, . () (
). .
16.2.
633
, ,
. ,
. 16.8.
A, , Z;
B , Y.
16.8.
0
2
C
1
3
6
4
2
2
7
1
8
1
, ,
, .
, .
16.2.4
, , 14 , , :
;
( ).
, , ,
, , .
.
.
90:
x X 15 ,
1) xi
xei :
ui (xi , xei ) = max ui (xi , xei ) i = 1, . . . , n;
xi Xi
14
(, ) (, ).
, ( ).
, .
15
1994 .
. . . : J. F. Nash: Equilibrium Points in N-Person Games,
Proceedings of the National Academy of Sciences of the United States of America 36 (1950): 4849; J. F. Nash: NonCooperative Games, Annals of Mathematics 54 (1951): 286295 (. . . : ,
. , . . (.), .: , 1961: 205221).
, .
, .
16.2.
634
2) :
xei = xi i = 1, . . . , n
,
, , ,
, . ., .
; , .
, ,

. ,
.
( , ,
).
,
, :
x X , xi
xi :
ui (xi , xi ) = max ui (xi , xi ) i = 1, . . . , n
xi Xi
()
.
91:
i- ,
Ri : Xi 7 Xi
, xi Xi ,
i- , xi . ,
ui (yi , xi ) = max ui (xi , xi ) xi Xi , yi Ri (xi )
xi Xi

: x X ,
xi Ri (xi ) i = 1, . . . , n
( ),
:
xi = Ri (xi ) i = 1, . . . , n.
16.8 ,
. (B, Y),
.
,
.
16.2.
635
5.
, i .
16 , x,
x = 1 1 2

ui = i x.
J
1- ,
1 (1 1 2 )
1 , 2- .

1 21 2 = 0
, .
2- :
1 1 22 = 0
, :
1 = 2 = 1/3
1- , 2-
1 2
1 (2 ) =
2
, 2-
2 (1 ) =
1 1
2
( ) = ,
1 2
1
2 (1 ) = 2 .
. 16.3. , 1 (2 ) 2 (1 ), ,
. , ,
(ui (x) = const). .
,
,
. ,
.
.
16
16.2.
636
2
1
1 (2 )

1
2
1
3
2 (1 )
1
1
3
1
2
. 16.3.
151:
x = (x1 , . . . , xm ) , .
.
152:

, xi , x = (x1 , . . . , xm )
.
B (. 641). ,
, .
-, , ,
.
, . , .
(. . 16.11 . 652).
16.2.5
, .
.
6.
() . , ,
. , ,
; , ,
, , . 16.9.
J
16.2.
637
16.9.
0
1
0
0
, ,
. , , ,
. , , , ,
, , . . ,
,
.
, ,
. ,
.
, , .
.
. .
, ,
Xi = {x1i , . . . , xni i }
( , ),
:
i = (1i , . . . , ni i )
i- Mi :
Mi =
i ki > 0, k = 1, . . . , ni ; 1i + + ni i = 1
, ( )
, , ,
. i- ,
, (1 , . . . , m ),
U (i , i ) =
n1
X
k1 =1
nm
X
k1i kmm ui (xk1i , . . . , xkmm )
km =1
, (
).
, . ,
, .
16.2.
638
, , , 17 . ,
,
, , 18 .
92:
= (1 , . . . , m )
,
1) i
ei :
U (i , ei ) = max U (i , ei ) i = 1, . . . , n;
i Mi
2) :
ei = i i = 1, . . . , n.
,
, . . ,
.
16.2.5.
, ,
, .

U1 (, ) = [ (1) + (1 ) 1] + (1 )[ 0 + (1 ) 0] =
= (1 2),

U2 (, ) = [ 1 + (1 ) (1)] + (1 )[ 0 + (1 ) 0] =
= (2 1)
( < 1/2),
, . . = 1. ,
, . . = 0. = 1/2, ,
, [0, 1].
, :
1,
< 1/2
() = [0, 1] , = 1/2
0,
> 1/2.
, :
0,
< 1/2
() = [0, 1] , = 1/2
1,
> 1/2.
17
, , , . .
18
, .
16.2.
639
. 16.4.
( ). (1/2, 1/2). .
,
( ,
1), , . ,
, ,
,
.
()
1
2
()
1
2
. 16.4.
, 19 , .
153:
, G = hI, {Xi }iI , {ui }iI i Xi , , ui () xi . G ( ).

,
.
154 ( ( )):
.
, .
16.2.1 ,
, . . a < c b < c. :
(IBM, IBM) (Mac, Mac). IBM PC
. 1-
U1 (, ) = [ (a + c) + (1 ) a] + (1 )[ 0 + (1 ) c] =
= [ 2c (c a)] + (1 )c
19
1950- , 15.
16.2.
640
0,
< (c a)/2c
() = [0, 1] , = (c a)/2c
1,
> (c a)/2c.
2-
U2 (, ) = [ c + (1 ) 0] + (1 )[ b + (1 ) (b + c)] =
= [ 2c (b + c)] + b + (1 )c

0,
< (b + c)/2c
() = [0, 1] , = (b + c)/2c
1,
> (b + c)/2c.
,
. 16.5. ,
.
b+c
ca
=
=
2c
2c
()
ca
2c
()
b+c
2c
. 16.5. , ,

A
?? , , . A B
155:
, G = hI, {Xi }iI , {ui0 }iI i Xi , , ui () xi . .

: , , Ri (),
xi Xi .
( ).
16.2.
641
. z 0 , z 00 Ri (xi ). , u(z 0 , xi ) = u(z 00 , xi ).

xi ui () , [0, 1]
u(z 0 + (1 )z 00 , xi ) > u(z 0 , xi ) + (1 )u(z 00 , xi ) =
= u(z 0 , xi ) = u(z 00 , xi )
ui () z 0 z 00 ,
. ,
z 0 + (1 )z 00 Ri (xi )
Ri (). i , xni Ri (xni ).
xni x
i xni x
i Xi . ,
, Xj x
i Xi x
x
i Ri (
xi ).
u(xni , xni ) > u(xi , xni ) xi Xi , n
ui () ,
i ) xi Xi
i ) > u(xi , x
u(
xi , x
, , x
i Ri (
xi ).
Ri () ,
, x X ,

xi Ri (xi ) i = 1, . . . , n
R() X X :
R(x) = R1 (x1 ) Rn (xn )
, ,
Ri (), .
R() X ,
. ,
R():
x R(x )
, x .
B

.
.
G = hI, {Xi }I , {ui }I i.
{G[t] }t=0,1,2,... , .
:
[t]
G[t] = hI, {Xi }I , {ui }I i
16.2.
642
G[0] = G.
i- t + 1
i- t- .
N Di (.
( 89, . 631)).
N Di =
xi Xi
yi Xi : ui (yi , xi ) > ui (xi , xi ) xi Xi
, :
[t+1]
Xi
[t]
= N Di
[t]
N Di G[t] .
151 152 (. 636). 151 :
: x = (x1 , . . . , xm ) ,

.
x
, 151 ,
G, t
[t]
xi Xi , i I, t = 1, 2, . . .
x X [t] , t = 1, 2, . . .
( 151): ,
xi i I . ,
:
x X [t] , t = 1, . . . , .
[ ]
i, x0i Xi ,
G[ ]
:
[ ]
ui (x0i , xi ) > ui (xi , xi ) xi Xi
, xi , ,
[ ]
xi (xi Xi ). ,
ui (x0i , xi ) > ui (xi , xi )
, x .
152. :
: , xi , x = (x1 , . . . , xm )
.
,
t , x , . .
[t]
Xi = {xi }, i I, t = 1, . . . , t.
, x .
16.2.
643
( 152): , , , ,
x . , .
, x
i i,
ui (xi , xi ) < ui (
xi , xi )
, x
i ,
xi . ,
[ ]
x0i Xi ,
[ ]
ui (x0i , xi ) > ui (
xi , xi ) xi Xi
xi = xi :
ui (x0i , xi ) > ui (
xi , xi )
x0i xi , . , ,
x00i , x0i 0 > , . .
[ 0 ]
ui (x00i , xi ) > ui (x0i , xi ) xi Xi

ui (x00i , xi ) > ui (x0i , xi )
, x00i xi ,
.
, < 0 < 00 < . . .
x0i , x00i , x000

i , . . ., xi . t,
xi .
/ 667. , (x, y ). 1 (x1 , y1 ), 2 (x2 , y2 ). 1

x, 2 y . ,
. ,
.
/ 668. , , .
/ 669. , . , , , , ,
.
.
/ 670. 16.2.1 (. 625), ??////??
/ 671.
4 . : xi = 1, 2
3. x1 + x2 6 4, ,
.
16.2.
644
/ 672. . (q )
(e1 e2 )
q = 2(e1 + e2 ).

ui = q ei ,
. . . 1, 2 3.
/ 673.
: .
, 1 .
, 1 .
/ 674. : A, B C . .
. ,
A. :
u1 (A) = 2,
u2 (A) = 0,
u3 (A) = 1,
u1 (B) = 1,
u2 (B) = 2,
u3 (B) = 0,
u1 (C) = 0,
u2 (C) = 1,
u3 (C) = 2.
/ 675. , N-. :
(L), (R) (E). 50,
30 20% . ,
, . , .
, .
.
/ 676. . ,
. :
) ux (x, y) = x2 + x(y + a) + y 2 , uy (x, y) = y 2 + y(x + b) + x2 ,
) ux (x, y) = x2 2ax(y + 1) + y 2 , uy (x, y) = y 2 + 2by(x + 1) + x2 ,
) ux (x, y) = x y/x + 1/2y 2 , uy (x, y) = y x/y + 1/2x2 ,
(a, b - ).
/ 677.
. . , ,
. . xi [0, 1].
. x1 < x2 ,
(x1 + x2 )/2 , 1 (x1 + x2 )/2.
(x1 = x2 ), .
.
/ 678.
, 16.2.2, ,
.
/ 679. 16.2.1 (. 624) :
16.2.
645
) a, b c ? ?
) , IBM? ?
?
/ 680. , . a > 0
, b > 0 , 0,
c > 0. a, b c
: (0) , (1) , (2) ?
/ 681. , , 2 , . ,
.
/ 682. (i = 1, 2) 3 : a, b, c x, y, z . . . . , : u1 (a, x) = , u1 (a, y) = , u1 (a, z) = , u1 (b, x) =
, u1 (b, y) = , u1 (b, z) = , u1 (c, x) = , u1 (c, y) = , u1 (c, z) = .
, 16.10.
, , u2 ().
1) ? ,
?
2) ?
3) .
16.10.
0
0
1
2
3
/ 683. , ,
2 . .
/ 684. ,
. . .
(0) ,
1
?
(1) ,
?
2
(2) ,
?
0
(3) ,
4
?
(4) .
/ 685. 1) , i-
,
min max ui (xi , xi ).
xi Xi xi Xi
2) , i-
,
max min ui (xi , xi ).
xi Xi xi Xi
16.3.
646
/ 686. .
, :
u1 (x1 , x2 ) + u2 (x1 , x2 ) = C.
( , C = 0, .)
, u1 (x1 , x2 )
.
(, u1 (x1 , x2 ), (x1 , x2 )
X1 X2 , x1 X1 x2 X2
u1 (x1 , x2 ) 6 u1 (x1 , x2 ) 6 u1 (x1 , x2 ).)
/ 687. , , ( ) ,
min max u1 (x1 , x2 ) = max min u1 (x1 , x2 ).

x2 X2 x1 X1
x1 X1 x2 X2
, .
.
/ 688.
,
. , . ,
, .
/ 689. - -
. : , . , , ,
( ), , , , ( ), , , ,
( ). 1, 1. , 0.
/ 690. . ,
. .
.
. ,
, . 1,
2. , 1 1 .
/ 691. , 2 ,
, . ,
.
16.3
, ,
. ,
, . , ,
, ,
().
16.3.
647
, , , ,
(, ). ( ) .
.
7.
, -, . ,
, . ,
, .
. , -.
, 1, 1.
-, . ,
. , 100,
1, 1.
J
, (.
. 16.6)20 .

1
1

100
100

1
1
. 16.6.
, , . .
. , . , -. () , ,
. , ,
1 100. , .
, , ,
, , , ,
-.
, ,
, , - . () . 16.7.
-, 1 1. , :
-, .
20
. .
16.3.
648

1
1

1
1
. 16.7.
(. . 16.8). , , .
, ,
21 .
1
1

100
100

1
1
. 16.8.
, ,
, , , ,
, ,
( ) .
22 .
, . , ( )
:
, ;
, , , ; ,
, , (
, , );
;
, , ,
;
21
. , , - . , , ,
. , ,
,
. , ,
.
22
, .
(. 8). . H. W. Kuhn: Extensive Games and the Problem of Information, in Contributions
to the Theory of Games, vol. II, H. W. Kuhn and A. W. Tucker (ed.), Princeton University Press, 1953: 193216.
16.3.
649
, ,
, .
( , .)
.
. ,
, .
, (. . ),
.
,
.
, , 2 ,
2-
1-. .
8. 23
, ( [0, 1]) .
py , p , y .
, ()
(1 )py y 2 .
y > 0. .
, , .
J
y

py
(1)pyy 2
. 16.9.
. (, [0, 1]
R), . , , , y .
.
() ,

.
, , ,
. ,
23
: , .
16.3.
650
, : y
. :
(1 )p 2y = 0.
< 1, y > 0. ,
, . . . = 1 y = 0. ,
:
y() =
(1 )p
.
2
, 24 , . .
py() max .
[0,1]
, y(),
p2
(1 ) max .
2
[0,1]
= 1/2,
. p/4.
. 16.10.
a)
1
2
y
p
2
p
4
p
2
. 16.10. () . ()
.
,
. , , ,
, . . 16.11 . : (L 1 , R 2 )
(L 2 , R 1 ).
, , .
156:

.
, , ,
.
24
py() .
16.3.
651
1-
L1
2-
L1

0
1
R1

1
0
L2

0
1
R1

1
0
R2
L1

2

2
1
1
R1

1
0
. 16.11.
, ;
, . , , , ,
.
, . ,
, , .
, , .
, (1) , (2)
(3) .
, ,
. .
() :
, .
, , ,
- , .
,
, , .
1
IBM
Mac
IBM
Mac

a+c
c

a
b
IBM

0
0
Mac

c
b+c
. 16.12.
. .
, , . , ,
. , , .
,
, 16.2.1 (. 624). ,
1- . . 16.12.
.
1 , . 2
16.3.
652
16.11.
2
IBM
IBM
IBM
Mac
a+c
Mac
a+c
b+c
0
c
Mac
Mac
IBM
Mac
IBM
b
a
b+c
0
0
4 . : . , 2-
: ( IBM, IBM), ( IBM, Mac), ( Mac, IBM), ( Mac,
Mac). 16.11 .
, , , ,
: IBM, IBM Mac,
Mac.
, , (. 16.1).
2- 9 . ,
.
, ,
. . ,
, a < c b < c .
, . , 2- IBM, c 0. 1-
a + c (IBM) c (). IBM. ,
, :
1-
2-
IBM,
( IBM, Mac).
16.11 , .
, 3 . , . ,
. . , , .
157:
( ) ,
, .
. :
. , ( ),
. ,
, .
, , , (s1 , . . . , sm ),
. , i si 6= si ,
, si .
( si , si ) , .
, . -
i- , (si , si ), , ( si , si ). ,
16.3.
653
- , .
i- ,
si , , si ,
. , .
, ,
. , .
, , Mac ( Mac, Mac) (. 16.12, . 651).
: 2- 1- , , IBM; 1- .
,
. , 2- , IBM. 1- , , () .
, .
, IBM ( IBM, IBM), ,
.
, , ,
, . , . ?
:
L , 25 .
L , ,
,
.
,
, -
. 26 .
, .
. ,
.
.
:
,
.
, ,
, .
93:
G , G , ,
. , . , .
.
, .
3 , ,
.
, ,
.
25
, . , .
26
- refinement ,
.
/ , .
16.3.
654
94:
27 , ,
.
(. 16.12 . 651).
, . 1
. 2 : IBM Mac.
16.12.
16.12.
2
IBM
Mac
a+c
b
a
. 2- IBM. ,
, ,
IBM. Mac ( Mac, Mac) ,
.
, , 2-
. IBM ( IBM, IBM)
.
, IBM ( IBM, Mac)
.
. , ,
, . ,
.
158:
,
, .
, ( 157),
, , ,
, .
, : . , . , ,
, . , ,
, . , , , . ,
, ,
, ,
.
.
, .
, , ,
, . . y().
.
.
27
, (R. Selten: Spieltheoretische Behandlung eines Oligopolmodells mit Nachfragetragheit, Zeitschrift fur die gesamte Staatswissenschaft 12 (1965): 301324, 667689).
16.3.
655
, , ,
, . . ,
, , , , . , , ,
. ,
,
.
156 157 158 . ,
.
, .
/ 692. . , 6 ,
. , .
/ 693. , , . ( 16.13), a, b, c, d > 0 .
. ?
16.13.
c
0
c
d
/ 694. , y .
y 2,
, , ( [0, 1]). (1 )y y 2 ,
y (y > 0) .
/ 695. , , 676 (. 644)
, , .
/ 696. (. )
, (w > 0). , ,
.
,
(l > 0 , . .).
:
u(w, l) = wl 2l2 ,
2l2 .
:
(w, l) = 2 l wl.
/ 697.
n P
. ,
n
(1 , . . . , n ), i > 0, i=1 i = 1.
16.4.
656
. 1 .
. 1 - .
(1) n = 3. .
(2) . , i = 1/n
.
/ 698. , . 16.13 ,
(. 682 . 645).
.
1
. 16.13.
/ 699. , (. 686 , . 646),
(, , ), , , ,
, . (x1 , x2 )
, u1 (x1 , x2 ). , (x1 , x2 )
.
/ 700. , ,
. , ( ) . ,
.
16.4
, ,
, , .
, . ,
28 ,
. . ., , ,
(
).
. , , 16.2.1 (. 624)
(. . 16.14).
, , . ,
2- , , , ; ,
.
, ,
. ,
28
games of imperfect information.
,
, - games of incomplete information.
16.4.
657
IBM
Mac
IBM
Mac

a+c
c

a
b
IBM
Mac

0
0

c
b+c
. 16.14.
, ,
( ).
, , ,
. , ,
.
, .
, , , .
, . 16.14 ,
2- IBM Mac.
,
: 29 .
,
, , . . ,
(. . 16.15).
1
1
2
2
1
. 16.15. ,
, . ,
, . , , ,
.
.
. 16.16 , 16.14 ( ).
29
, -, (
).
16.4.
658
1
L1
R1
2
L2
R2
. 16.16.
16.14.
2
L2
R2
L1
R1
, . 16.17. ,

. ,
.
1
R1
L1
2
L2
R2 L2
R2
. 16.17.
,
. .
, . 16.14, (
, ).

, .
.
, , , .
, .
,
. .
. , . ,
. , , ,
. , . 16.18,
, . ,
.
16.4.
659
1
2

2
3
2

2
1
4
7
3
2
1
0
3
2

2
0
1
. 16.18.
,
. . 16.18 ,
. 3 ,
, - .
, , .
, (
) .
. .
: t = 1, . . . , T ,
. t - ,
, . . (1, . . . , t
1 ); , .
. ,
(, , ,
. 16.20).
, T -,
. , . , ( , ).
T 1 , . .
, ( ) . ,
, .

.
9.
(, 2 ).
3 3 . 1, 2 3 ,
,
( 1 2 ). , 1
, , 2 ,
.
J
. 16.19. R , L .
, , .
,
.
16.15 , .
. , ,
, , .
16.16.
v1 v2 .
16.4.
1-
R1
L1
I
L2
1-
L3
L4

3
3
660
2-
R 2L 2
R2

1
0
2
1
2
0
R3
2-
R 4L 4
R4

2
0
1
0
2
1
II
. 16.19.
16.15.
2
L4
R4
L3
R3
2
0
1
1
16.16.
2
L2
R2
v2
L1
v1
R1
2
0
1
1
16.4.
661
,
. ,
, , v1 , v2 = 1 < 2.
, , , v1 , v2 = 3 > 2: ,
. , .
.
, (3, 3).
, 158.
159:
( ) ,
, .
,
(, . 16.20).
, ,
, .
1-

1-
1
1
2-

0 0
1
1
1 1
0
0
. 16.20. ,
, , . , , .
. :
. .
.
,
, ,
. ,
.
, , , (
).
,
(, , , ).
, ,
. , , .
, .

. , ,
. : . -,
.
16.4.
662
16.4 (. 659). ,
. , , ,
.
1 ,
( L1 ), 1 ,
( L2 ). 2
2 ( L3 L4 ).
(. . 16.21).
.
: 2 = 1/2 2 = 1/2.
3/2 . 1- ,
.
.
, v1 , v2 = 3 (
) : 1 = 1/2 1 = 1/2 .
2
2 (2 )
2 (2 )
1
2
2
1
2
. 16.21.
/ 701. -- : 1 , 2
3 . (
). ,
1/2 . z ,
? , .
/ 702. 2 . .
, . ,
$1. ,
, , .
, $2. ,
. ,
, , ,
. . 16.22.
L , R . L
, R .
,
.
/ 703. , . 16.20 (. 661).
/ 704. 50 100 . .
. ( ,
, ) ,
. , , ,
16.5.
L1
663
1-
R1
2-
R2L2
R
2
L2
0
1
0
0
0
1
1-
L3
R3
2-
R
R
4L4
4

L 4

10 1
1
1
10
1
1
1
. 16.22.
,
.
(1) , .
(2) ? ( .)
(3) ?
16.5
, ,
,
( , , ).
, , , ,
.
,
. , , .
:
. , . , , .
.
, , ,
, . , .
, .
.
.
( ).
, I = {1, . . . , m} .
, i i , i i- ( ). , . ,

= 1 m .
16.5.
664
i ,
(1 , . . . , m ) , . .
() : 7 R+ ,
, .
, , ,
( ).
, m
i () : i 7 R+ , i = 1, . . . , m,
i () i i. ,
.
, ,
, F (1 , . . . , m ). ,

F (1 , . . . , m ) =
m
Y
Fi (i ).
i=1
,
Xi 30 . ,
(x1 , . . . , xm ) X , , , (1 , . . . , m ) , .
:
ui : X 7 R,
X = X1 Xm .
, :
< ;
< ;
< ;
< ;
< .
, ,
hI, {i }I , , {Xi }I , {ui }I i.
. , .
si (), i si () Xi .
,

31 . ,
. (
, .)
i, xi , ,
si () = (s1 (), . . . , si1 (), si+1 (), . . . , sm ()),

30
, ,
, (
), .
31
, . , , .
, .
16.5.
665
Ui (, xi , si ()) = E[ui (xi , si (i ), , i ) | i = ],

i = (1 , . . . , i1 , i+1 , . . . , m ) .
, . , . .
Ui (, xi , si ()) = E(ui (xi , si (i ), , i )).
,
X
i (i )ui (xi , si (i ), , i ),
Ui (, xi , si ()) =
i i

i = (1 , . . . , i1 , i+1 , . . . , m )
i (i ) =
j (j )
j6=i
( , i = (1 , . . . , i1 , i+1 , . . . , m )).
32 ,
.
95:
(
s1 (), . . . , sm ()) ( )
, i i si () ,
:
Ui (, si (), si ()) = max Ui (, xi , si ()).
xi Xi
, ,
.
10.
, .
IBM PC, , IBM PC ( ). IBM PC,
. , , ,
, .
1 . ., 0 . . 2 . .,
.
J
16.17.
. ,
IBM, IBM; Mac,
Mac, . . ((IBM, Mac), (IBM, Mac)), .
1- , IBM PC. ,
2- (IBM, Mac), IBM PC

IBM:
Mac:
3 + (1 ) 1,
0 + (1 ) 2.
32

. (J. C. Harsanyi: Games with Incomplete Information Played by Bayesian Players (parts I,
II and III), Management Science 14 (1967-1968): 159182, 320334, 486502).
16.5.
666
16.17.
2
1
IBM
Mac
IBM
IBM
Mac
IBM
IBM
0
1
Mac
IBM
Mac
[]
[]
3
1
1
0
1
Mac
2
3
Mac
1
0
0
1
[1 ]
3
[1 ]
IBM PC,
3 + (1 ) 1 > 0 + (1 ) 2
> 1/4.
1- , .
, 2- (IBM, Mac),
IBM PC
IBM:
Mac:
2 + (1 ) 0,
1 + (1 ) 3.
,
2 + (1 ) 0 6 1 + (1 ) 3
6 3/4.
,
. ,
1/4 6 6 3/4
, ((IBM, Mac), (IBM, Mac)) .
,
, , .
, ,
. ,
.
11.
. :
( A B ). , . , 2 (
a b ). . ,
, 1 , , 1 .
J
16.18. , Aa . . , , ,
.
16.5.
667
16.18.
A
a
1
0
1
0
[Aa ]
[Ab ]
1
0
1
0
[Ba ]
[Bb ]
, , , Aa /(Aa + Ba ),
, , , Ba /(Aa + Ba ).
, a, ,
Ba
Aa
(1) +
1,
Aa + Ba
Aa + Ba
, 0 . , b, ,
Ab
Bb
(1) +
1,
Ab + Bb
Ab + Bb
, 0 .
, Aa Ba ,
Ab Bb , ,
, ,
.
, .
12.
. (i = 1, . . . , n ), , pi > 0,
. , . ( , .)
. i- ,
vi pi , vi ;
. , vi [0, 1]
.
J
, [0, 1].
i- , v ,
, pi (v):
pi () : [0, 1] 7 R+ .
. :
, ,
, , , .
, ,
:
pi (v) p0 (v) i,
, , p0 () . , , i- .
p , , , j ,

1
Pr(p0 (vj ) < p) = Pr(vj < p1
0 (p)) = p0 (p) = (p),
, vj [0, 1], (p)
, p0 (). vj ,
16.5.
668
p0 (vj ) < p , , i- , p ,
(p)n1 . ( , , p0 () ,
p0 (vj ) = p .) , i- v ,
p , , p0 (),
(p)n1 (v p) + (1 (p)n1 ) 0 = (v p)(p)n1 .

(n 1)(v p)(p)n2 0 (p) (p)n1 = 0
(n 1)(v p)0 (p) (p) = 0.

, v , p = p0 (v).
, :
(n 1)(v p0 (v))0 (p0 (v)) (p0 (v)) = 0.
() , p0 (),
(p0 (v)) = v 0 (p0 (v)) =
1
.
p00 (v)

(n 1)[v p0 (v)] p00 (v)v = 0.
, ,
p0 (v) =
n1
C
v + n1 ,
n
v
C . . p0 (v) v . , .
p0 (0) = 0, C = 0. ,

n1
p0 (v) =
v.
n
, v ,

n
n1
(n1 )
(v p)pn1 ,
R+ p = n1
n v , . , , ,
.
2 ,
.
pi (v) = v .
,
( ) . 16.2.5 .
. , 16.2.5
(. 636). , . , [0, 1]. ,
(, 16.9).
, : , 1 6 1/2 ,
16.6.
669
; ,
2 6 1/2 .
: ,
. , ,
.
, , .
, .
, , .
,
.
. (. 707.)
/ 705. 16.2.1 (. 625) ?

/ 706. $3 1/5, $6 1/5 4/5, $12 1/5 (4/5)2 , . . ( , $3 2k 1/5 (4/5)k k > 0 ).
, .
( ).
, , , .
ln(w). [: 39 > 214 ].
(A) . , ,
. ().
, . ,
, .
(i) .
{1, 2, 4, 8, . . .}. ?
(ii) .
(iii) ( ) , .
, . ?
(B) , ,
$3 2K ( K > 1 ).
.
/ 707. 16.19 (. 16.2.5). 1
2 , 1- 2- , 1
2 [0, ] ( > 0 ) 33 . ( ) . , 0
( 16.2.5 . 636).
[: , .
, i . : 1 < 1 ,
, 1 > 1 (
, 1 = 1 , );
, 2 < 2 , 2 > 2 .]
16.6
,
, 33
.
.
16.6.
670
16.19.
1 + 2
0
1 + 2
0
0
, . . (
).
16.3 (. 647).
13.
, 16.3, : . , 16.3,
100 , -.
0 . , , . , , .
J
. 16.23. , 34 . , .
, .
[]
[1]
-

1

100
1
1
100
1
1

1
1

100
0
. 16.23.
.
1 . ,
, .
, . . , 16.3,
-. , , (
0 1). (, ,
) , . 16.24.
, 1 . -,
100 , 1 1 ,
34
, ( ) , .
16.6.
671
[]

1
1
[1]
-

100
0

1
1

1
1
. 16.24.
(100) + (1 ) 1 = 1 101.
1 1 101 .
, .
, . . < 2/101, -, , . .
> 2/101, . = 2/101 , .
, ,
.
. , ,
, .
. , , . ,
,
, , . ,
,
. .
:
Q (s1 , . . . , sm ) ;
Q i , se
i ;
Q , ,
, .
, , :
1) :
i (si ) ,
, , (sei ).
2) ,
,
,
(si , sei ).
3) : sei = si .
.
. i ,
. ? , , (si , sei )
, . ,
, , ,
.
16.6.
672
1-
2-
. 16.25.
, . 16.25. , , ,
. , , ,
, ,
.
. ,
, (si , sei ).
, ,
.
, (si , sei ). ,
, . ( ,
. . , .)
.
, A Bj (j = 1, . . . , m ), :
(1) Bj (j = 1, . . . , m ) , . .
Bj Bk = , j, k = 1, . . . , m;
(2) , Bj , A,
. .
m
[
A
Bj .
j=1
:
Pr{Bj } Pr{A | Bj }
Pr{Bj } Pr{A | Bj }
=
.
Pr{Bj | A} = Pm
Pr{A}
Pr{B
}
Pr{A
|
B
}
k
k
k=1
Pr{Bj } Bj , Pr{Bj | A} Bj
, A , Pr{A} A, Pr{A | Bj } A , Bj .
Pr{A} . ,
( Pr{A} =
6 0 ).
, Bj ,
, A, . ,
, Pr{A | Bj } = 1 :
Pr{Bj | A} =
Pr Bj
,
Pr A
Pm
Pr{A} = k=1 Pr{Bk }.
, . 16.26. 3- , 1-
0,4 , 2-
16.6.
673
, ,
0,40,5 = 0,2 , 0,6 . ,

0,2/(0,2 + 0,6) = 0,25,

0,6/(0,2 + 0,6) = 0,75.
1-
[0,4]
[0,6]
2-
[0,5]
[0,5]
3-
. 16.26.
. (si , sei )
,
(si , sei ). . 16.27,
1- 2- 3- , 0,1 , 0,9 ,
.
.
, . ,
. 16.27, 1- 2-
.
, .
, ,
35 .
1-
)
[0]
2-
[0,1]
1-
[1]
[0]
[0,9]
[0]
)
[1]
2-
3-
. 16.27.
, , . ,
:
, .
16.6 (. 670) , ,
35
. . ,
, .
16.6.
674
[]

0
0
[1]
[1 ]
[]

1
1
[2 ]

0
0
[1]
[3 ]
-
[3 ]

100
0

1
1

1
1
. 16.28.
. , 0 , 0 .
. 16.28. , . - , .
:
1) , , 1 [0, 1];
2) , , 2 [0, 1];
3) , , [0, 1];
4) , -, 3 [0, 1].
. .
, . :
:
-:
1
(100) + (1 ) 1
, 1 < (100) + (1 ) 1, . . < 2/101,

- ( 3 = 1), > 2/101 , (3 = 0), , = 2/101, ,
(3 ). . . :
< 2/101,
1,
3 () = [0, 1], = 2/101,
0,
> 2/101.
, , , 1
2 . 1 6= 0 2 6= 0, .
, : B1 , B2 , A
, . (,
, .) ,
,
Pr{B1 } = ,
Pr{A | B1 } = 1 ,
Pr{B2 } = 1 ,
Pr{A | B2 } = 2 .
Pr{B1 | A} = ,
16.6.
675
,
(1 , 2 ) =
1
.
1 + (1 )2
1 6= 0 2 6= 0. 1 = 0 2 = 0, ,
, : (1 , 2 ) = [0, 1].
. ,
, 3 ,
(1 3 ) 1 + 3 0 = 1 3 .
0. ,
(
1,
3 < 1,
1 (3 ) =
[0, 1], 3 = 1.
,
0 , . .
1,
2 (3 ) = [0, 1],
0,
1 23 .
3 < 1/2,
3 = 1/2,
3 > 1/2.
(1 , 2 , 3 , ), ,
:
3 3 ( ),
1 1 (3 ),
(1 , 2 ),
2 2 (3 ).
, , . -,
:
(i) (2 = 0 );
(ii) (2 = 1);
(iii) (2 (0, 1)).
(i) , 2 = 0. , 1 6= 0.
, ( = 1 ). ,
(3 = 0). .
. , ,
( 1 = 0 ). ,
- (3 = 1 ). , ,
, ( 6 2/101 ).
(, ):
3 = 1,
[0, 2/101],
1 = 0,
2 = 0.
, . , ,
.
(ii) , 2 = 1 .
, , , 3 6 1/2.
(1 = 1).
, , , . . = .
3 6 1/2 > 2/101. ,
> 2/101. > 2/101, 3 = 0. , , . . > 2/101,
:
3 = 0, = , 1 = 1, 2 = 1.
16.7. -
676
, = 2/101, :
1 = 1, 2 = 1,
3 [0, 1/2], = = 2/101.
(iii) , , , (2 (0, 1)). , , , - 1/2
(3 = 1/2). = 2/101. ,
(1 = 1),
:
2
=
.
=
101
+ (1 )2
,
2 =
99
.
2(1 )
2 , , : < 2/101.
, < 2/101 :
3 =
1
,
2
2
,
101
1 = 1,
2 =
99
.
2(1 )
,
.
/ 708. , . 16.18.
/ 709.
( A B ) 1 . . A
, . A
, 2 . . , B .
A , B . , 2 . ., .
A, , B ,
. A.
, . . A , . . ,
? B ?
16.7
, -
, .
:
G = hI, {Xi }I , {ui }I i.
-.
96:
y X x X ( - x),
, x,
, x, . .
ui (yi ) > ui (xi ) i I,
16.7. -
677
j I : uj (yi ) > uj (xi ).

X -, x
X ,
x
.
x
- .
() -,
, , .
14. 36
. , , , .
, .
J
(. 16.20).
16.20.
2
$100
$1
100
$100
100
$1
101
101
0
0
0
1
. ,
. , -
. , ,
.
16.7.1
, , , . ,
. , , ,
( ),
.
, . , (, ).
, . . 16.29 .
, n , n 1 . ,
,
. , , ,
.
36
.
. .
. , ,
1 , 10 . , 7 .
, , 3 . (
.)
16.7. -
678
1-
2-
100
100

1-
2-
100
100

0
101

1
1
1-
2-
101
0

1
1
0
101
1-
101
0
100
100

0
101

100
100

0
101

101
0

1
1
1-
2-
2-
101
0

1
1
100
100

0
101

101
0

1
1
. 16.29.
, . , uij , i- j - ( j - ), n

n
X
uij .
ui =
j=1
, ,
, . , ij (0, 1)
i- j - .
n
X
ui =
(ij )j1 uij .
j=1
, ij = i , . . .
,
, .
. , . , , ,
, . ,
,
. , .
, ,
: 1 .
,
. ( 1 ).
, . ,
. ,
, . ,
n .
.
.
16.7. -
679
160:
G ( ) . n G , Gn , , Gn
G .
.
, , .
, ,
, n - . ,
, .
, .
37
X
ui =
(i )j1 uij .
j=1
,
. :
- , ( ,
).
- , 1 .
.
1 , 2 ,
.
, ,
.
, 1 , , 1
. , k - ,
,
k1
X
(i )j1 100 + (i )k1 101 +
j=1
(i )j1 1.
j=k+1
(i )j1 100.
j=1
, ,
X
j=1
X
j=k+1
(i )j1 100 >
k1
X
(i )j1 100 + (i )k1 101 +
j=1
(i )j1 99 > (i )k1 1
(i )j1 1
j=k+1
99i
1
> 1 99i > 1 i i >
.
1 i
100
, , .
, ,
.
, ,
. . , ,
1 , .
37
i (0, 1) , .
16.7. -
680
( Folk Theorem,
), ,
, . ,
(
1 i , , ), , .
: - ,
38 .
,
. , , , , . ,
.
16.7.2
, , .
-.
15. 39
(A B ) ( ).
, 1. , x [0, 1],
A. A x, B , , 1 x.
. xj , j .
, . ,
(xj , 1 xj ). ,
. A ,
B . n ,
0 .
, , , j -
j1
j1
, A
xj B
(1 xj ) , A , B (0, 1) .
J
n = 3. . 16.30 .
, .
B
A
2
A, B
(1 x3 ) > 0 , . . x3 < 1. x3 = 1,
x1
B , . A
B
x3 . ,

x1
x3 < 1 , A
B
1x1
x3 , B ,
x2
. , x3 = 1 .
A
, B

A x2

B (1x2 )
A, ;
A
A x3 1
x3
.
B

2
3- , A
A x3
0
2
x3 = 1 , B B (1x3 )
0
38
. J. W. Friedman: A Non-cooperative Equilibrium for Supergames, Review of Economic Studies 38 (1971):
112.
. 16.30.
39
A. Rubinstein: Perfect Equilibrium in a Bargaining Model, Econometrica 50 (1982): 97109.
16.7. -
681
. , 3-
2
A
0.
2
2- A A
( ) A x2 ( ). ,
x2 > A , , x2 < A ,
. x2 = A A , . B
B (1 x2 ), 0 , x2 < A .
x2 > A , B x2 ,
A, , , . , x2 = A .
, , A x2 = A ,
, 40 .
2
, , A
B (1 A ),
(. . 16.31). , , ,
: B x1 = 1 B (1 A ),
A . 1 B (1 A ) B (1 A ).
A
x1
2
A
B (1A )
B

x1
1x1
. 16.31.
:
1) .
2) -.
. 16.32 n = 3 .
, ,
- . , .
u2
B (1A )
u1
2
1
A
1B (1A )
. 16.32. ??
/ 710. , 682 . 645.

. -?
40
, , B
A x2 = A , , , A
. .
16.7. -
682
/ 711. , (,
) -.
/ 712. , ,
, ( ).
.
/ 713. ( )
, . 16.29, ,
1/2 .
/ 714. 41
: . , ?
/ 715. .
, , , . ,
. ,
. ?
41
- tit-for-tat, ,
, , .
17
>
17.1
, X Rn .
97:
f (): X 7 R , X x, y X [0, 1]
f (x + (1 )y) > f (x) + (1 )f (y).

f () , f () .
98:
f (): X 7 R , X x, y X ,
x 6= y (0, 1)
f (x + (1 )y) > f (x) + (1 )f (y).
f () , f () .
, . p | x , .
161:
f (): X 7 R , X
Pk
x1 , . . . , xk X 1 , . . . , k > 0, j=1 j = 1 ,
f
X
k

j xj
>
j=1
k
X
j f (xj ).
j=1
( ) ) > E f (
,
: f (E x
x) ( , x
, , ).
99:
(superlevel set) f (): X 7 R ,

t R x X f (x) > t .
162:
.
, , . , x3 , ( x > 0 , ).
, .
100:

f (): X 7 R (x, t) x X, t 6 f (x) .
683
17.1.
684
163:
,
.
164:
Pm
fj (): X 7 R (j = 1, . . . , m ) . j=1 j fj (x), 1 , . . . , k >
0 , . , .
Pm
fj (): X 7 R (j = 1, . . . , m ) .
j=1 j fj (x),
1 , . . . , k > 0 j > 0 j , . ,
.
165:
fj (): X 7 R (j = 1, . . . , m ) .
minj=1,...,m fj (x) .
( ) .
166:
f (x, y): X 7 R (j = 1, . . . , m ) x ,
y Y ( Y Rm ).
g(x) = inf yY f (x, y)

x X inf yY f (x, y) > .
167:
g(): X 7 R Y , h(): Y 7 R .
f (x) = h(g(x)) .
168:
X , f (): X 7 R (. .
X f ()).
, X x, y X
f (y) 6 f (x) + f (x)| (y x).
. . ( ) .
169:
x int(X) f (): X 7 R
, f (x) = 0.
170:
X , f (): X 7 R
(. . X 2 f ()).
, X x X
2 f (x) .
171:
X . f (): X 7 R 2 f (x) x X , f () .
, , , . , f (x) = x4 ,
f 00 (0) = 0.
172:
() f (): X 7 R int(X).
17.1.
685
101:
f (): X R , X x, y X [0, 1]
f (x + (1 )y) > min(f (x), f (y)).

102:
f (): X R , x, y X , x 6= y ,
(0, 1)
f (x + (1 )y) > min(f (x), f (y)).
103:
f () , f () .
104:
f () , f () .
173:
.
???
174:
f (): X 7 R , X R , ,
X , :
f () ;
f () ;
x X , X (, x ] f ()
, X [x , +) .
175:
g(): X 7 R Y , h() : Y 7
R . f (x) = h(g(x))
.
176:
X , f (): X 7 R . , X ,
x, y X , f (y) > f (x),
f (x)| (y x) > 0.
, ( ) f (x) = 0 ,
x .
177:
X . f (): X 7 R , x X p Rn , p | f (x) = 0 ,
p | 2 f (x)p 6 0 .
, x X , f (x) 6= 0, 2 f (x)
p | f (x) = 0 .
, , , .
178:
X . f (): X 7 R x X p Rn , p 6= 0 p | f (x) = 0 , p | 2 f (x)p < 0,

f () .
, , 2 f (x) p | f (x) = 0 x X , f (x) 6= 0,
x X , f (x) = 0.
17.2.
17.2
686
, (x): Rn 7 R ,
t
(tx) = t (x).
179:
() , ( )
n
X
xi
i=1
(x)
= (x).
xi
180:
(x) ,
i 1 .
(x)
xi
17.3
181 (( )):
f : Rn R x Rn .
2 f (x)
2 f (x)
=
,
xi xj
xj xi
17.4
i, j = 1, . . . , n.
182 (( )):
A Rn , f : A A A:
A. x
= f (
x
x).
183 (( )):
A Rn , f : A A
, f (x) x A.
A:
x
f (
x
x).
17.5
184 (( )):
C Rn x Rn , C . a Rn , a 6= 0, b1 , b2 R , b1 > b2 ,
:
n
X
ai xi > b1
i=1
n
X
i=1
ai yi 6 b2 y C.
17.6.
687
185:
C1 , C2 Rn .
a Rn , a 6= 0, b R , :
n
X
ai xi > b x C1 .
i=1
n
X
ai yi 6 b y C2 .
i=1
17.6
(
) :
, a.
(x1 , . . . , xn , a) max
j (x1 , . . . , xn , a) = 0, j = 1, . . . , m.
(>)
186:
x(a) (>), (a) , ,

l(a) = (x(a), a).
, a0 :
() j () ,
x() ,

m
dl(a0 )
(x(a0 ), a0 ) X
j (x(a0 ), a0 )
=
+
j (a0 )
.
da
a
a
j=1
17.7
:
f (x, ) max
x
(P)
x X().
( Rm ), X()
n
, Rn (X() 2R ). x()
,
. () , x() . , x() .
, X() .
105:
> 0 X() ,
> 0 , - X() X()
- .
> 0
X() ,
> 0 , - - X() X().

, .
17.7.
688
, :
187:

n
, X(): 7 2R , f (): (x, ) , x X() 7
x()
R .
.
X() = X ,
.
188:
x() ( Rm ) ,
:
f (x, ) max .
xX

, f (): (x, ) , x X() 7 R
x() .
.
, , ( ) ()
( ).
( 187), , -,
() , -, ,
,
189:
x(p)
u(x) max
x
px 6 (p),
x X,
p Rn+ , X Rn , X , 0 X .
u() X .
, x(p)
(p) p = p
.
p
190:
x(p)
u(x) max
x
px 6 (p),
x X,
p Rn++ , X Rn , X , 0 X .
u() X .
, x(p)
(p) p = p
.
p
191:
x(p)
u(x) max
x
px 6 (p),
x X,
p Rn+ , X Rn , X , 0 X .
u() X .
,
(p) p = p
.
x(p) p
17.8.
689
192:
x(p)
u(x) max
x
px 6 (p),
x X,
p Rn++ , X Rn , X , 0 X .
u() X .
,
(p) p = p
.
x(p) p
193:
. x()
, x()
() .
,

.
194:
(P) (x) = . ,
), y
r(
int . , , f (x, y)
(
x, y
x) y
),
y (
x, y
)| =
x, y
6 0. (P) x
|2yy f (
, r(x) .
x
(P) x = x
. ,
: y
) :
(
x, y
) = 0.
y f (
x, y

y f (x, y) = 0
y = r(x), .
x
, r(x) .
r(x) , x
r(x) f (x, y) y ,
r(x) (P) x.

. ., . . , I, ., ,
2001, . 568-69.??
17.8
, p Rm .
(x, p) max
x
x X Rn
, p P , () .
l(p) = (x(p), p) p P .
195:
l(p) p int P , ,
x(p), .
17.9.
17.9
690
, , . .
:
f (x) max
x
gj (x) > 0, j = 1, . . . , m,
x = (x1 , . . . , xn ) X.
(?)
f : X 7 R ( ) , gr : X 7 R ,
r = 1, . . . , m , , X Rn .
196 ( ):
(?), x
int X .
f (), g1 (), . . . , gn () x
j > 0 , j = 0, . . . , m , ,

x
L(
x, ) max .
xX
, f, gr ( ).
,
m
X
L(x, ) = 0 f (x) +
j gj (x)
j=1
() , j
.
.
197 ( ):
(?), x
int X f (), g1 (), . . . , gn () x
.
x
j > 0 , j = 0, . . . , m , ,
( ):
L(
x, )
= 0, i = 1, . . . , n
xi
m
X
L(
x, )
j=1
j = 0
(
).
,
gj (
x)j = 0, j = 1, . . . , m.
, (j > 0),
) (. . gj (
( x = x
x) = 0).
, . , , gj (
x) > 0 ,
j .
(?) xi ,
, :
f (x) max
x
gj (x) > 0, j = 1, . . . , m,
x X,
xi > 0, i P {1, . . . , n}.
(??)
17.9.
691
int X ) i P
( , 1 x
:
L(
x, )
6 0.
xi
i
/ P , (?),
x,)
L(
= 0.
xi
,
m
X
L(
x, )
j=1
X L(
x, )
xi
iP
j = 0,
x
i = 0.
, x
i > 0 (i P )
L(
x, )
= 0.
xi
, L(
x, )/xi < 0, x
i .
. E . :
f (x) max
x
gj (x) > 0, j {1, . . . , m}\E,

gj (x) = 0, j E,
x X,
xi > 0, i P {1, . . . , n}.
(???)
,
j j E .
, , 0 , .
0 = 0 , ,
x
f (), f ()
. , , 0 > 0.
.
, , ,
:
, , - :
. ( x
.)

A , x
( , ), . .
gj (
x) = 0 j A.

{gj (
x)}jA
2 , 0 > 0 . .
, 0 > 0, 0 = 1, .
() .
1
, x
i > 0 i P .

.
2
17.9.
692
198 ( , ):
(?),
f (), g1 (), . . . , gn () , x
int X .
x
j > 0, j = 1, . . . , m , 0 = 1
:
L(
x, )
= 0, i = 1, . . . , n
xi
m
X
L(
x, )
j=1
j = 0.
(??) (???). , .
L(
x, )
= 0, i = 1, . . . , n
xi
:
f (
x) =
m
X
j gj (
x).
j=1
, , . . 17.1 . , ,
- ,
, .
. 17.1.
. 17.2 .
, , ,
x
.
. 17.2.
17.9.
693
,
(. . , f (), {gk ()} x
) , ,
.
, x
199 ( / /):
f () , g1 (), . . . , gn ()
(?), x

, X x
int X .
, , j > 0, j = 1, . . . , m ,
0 = 1 :
L(
x, )
= 0, i = 1, . . . , n
xi
m
X
L(
x, )
j=1
j = 0.
(?).
x
(??) (???). (???)
( ,
, gj (x) = 0, , gj (x) > 0
gj (x) > 0 , ;
).

f (
x) 6= 0.
. : , .: , 1973
. A. P. Barten
and V. Bohm: Consumer Theory, in Handbook of Mathematical Economics, vol. II, K. J. Arrow and M. D. Intrilligator (ed.), North Holland, 1982 (pp. 403409), .
, , 34
.?? G. B. Antonelli, 67
, , 43
, , 19
, , 6
, , 20, 61
, , 7, 22, 24
, , 20
, , 50
, , 61
, , 8
-, , 69
, , 18, 20
, , 24
, , 69
,??, 45
, , 50
,??, 108
, , 34, 69
, , 20
,??, 44
694
. . . . . . . . . . . . . . . . . . . . . . 245
CES . . . . . . . . . . . . . . .

GARP . .
, .

MRS . . . . . . . . . . . .
WARP . . . . . . . .
B
Bernoulli, Daniel . . . . . . . . . . . . . . . . . . . . . . 231, 245
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . 333, 376,
(Cournot model) . . . . . . . . . . . .
419
413
433
499
(Lindahl equilibrium)
403
. 432435,
454457
. . . . . . . . . . . . . . . . . . . . . . . . 264
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 381
C
CAPM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 276
F
Fishburn, Peter C. . . . . . . . . . . . . . . . . . . . . . . . . . 238
. 231, 235,
237, 243

. . . . . . . . . . . . . . . . . . . . . . . 285
(Nash equilibrium) . . . . . . . 628
J
Jensen, N. E. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 235
M
Markowitz, Harry . . . . . . . . . . . . . . . . . . . . . 263, 264
Morgenstern, Oskar . . . . . . . . . . . . . . . . . . . . . . . . 231
- . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- . . . . . . 177, 213215,
. . . . . . . . . . . . . . . . . . . 285,
. . . . . . . . . . . . . . . . . . . . . . .
- . . . . . . . . . . . . . . . . . . . . 177,
. . . . . . . . . . . . . . . . . . . . 349, 362,
N
Neumann (von Neumann), John . . . . . . . . . . . . 231
S
Samuelson, Paul A. . . . . . . . . . . . . . . . . . . . . 254, 264
Sharpe, William F. . . . . . . . . . . . . . . . . . . . . . . . . . 276
T
Tobin, James . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 263
177
178
671
432
284
343
366
. . . . . . . . 323
. . . . . . . . . . . . 440442, 448450
- . . . . . . . . . . . 245
(Bayes rule) . . . . . . . . . . . . . . . 667

. . . . . . . . . . . . . . 231, 235, 243
(Bertrand model) . . . . . . . . 533
. . . . . . . . . . . . . . . . . . . . . 518
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . 259,
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 624
. . . . . . . . . . . . . . . . 419
695
163
284
283
261

. . . . . . . . . . . . . . . . . . . . . . . . . 259
. . . . . . . . . . . . . . . . . . . . . . 260
A
(ad valorem tax) . . . . . . . 310

. . . . . . . . . . . . . . . . . . . . . . . 129
(lump-sum tax) . . . . . . . . . . 309
. . . . . . . . . . . . 234
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 248
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6, 8
. . . . 641, 651
(arbitrage) . . . . . . . . . . . . . . . . . 473, 539
. . . . . . . . . 378, 432
. . . . 10
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 624
. . . . . . . . . . . . . . . . . . . . . 658, 665
. . . . . . . . . . . . . . . . . . . . 660
(arbitrage-free
asset prices) . . . . . . . . 301, 302, 304, 305
(free-rider) . . . . . . . . . . . . . . . . . . . . 385
. . . . . . . .
. . . . . . . .
. . . . . . . . . . . . . . . . . . . 245
(infinitely
repeated game) . . . . . . . . . . . . . . . . . . . 674
. . . . . . . . . . . . . . . . . . . . . . . . . . . 276, 278
. . . . . . . . . . . . . . . . . . . 6, 912
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78, 59
(welfare
function) . . . . . . . . . . . . . . . 443, 465, 493
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
. . . . . . . . . . . . . . . . . . . . . . . . . . 62
. . . . . . . . . . . . . . . . . . 5960
. . . . . . . . . . . . . . . . 59, 63
(budget
constraint) . . . . . . . . . . . . . . . . . . . . . . . 159
. . . . . . . . . . . . . . . . . . . 62
. . . . . . . . . . . . . . . . . . . . 518
. 1718, 23, 31,
69, 106107
?? . . . . . . . . . . . . . . . . . . . . . . . . . . 69
. . . . . . . . . . . . . . . . . 100
. . . . . . . . . . . . . . . . . . . . . . . . . . 332
. . . . . . . . . . . . 31
. . . . . . . . . . . . . . 245, 259
. . . . . . . . . . . . . 112

. . . . . . . . . . . . . . . . . . . . . . . 143
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
696
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 230
(payoff) . . . . . . . . . . . . . . . . . . . . . . . . . . 620

. . . . . . . . . . . . . . . . . . . . . . . . 233
. . . . . . . . . . . . . . . . .
236
. . . 3135, 3738, 62,
111
. 129
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151
. . 42

. . . . . . . . . . . . . . . 42, 44, 105106
. . . . . . . . . . . . . . . . . . . . . . 41, 44, 106
. . . . . . 4142, 4446,
105106, 118
. . . . . . . . . . . . . . . . . . . . . 142
. . . . . . . . . . . . . 245
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 442
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
. . . . . . . . . . . . . . . . . . . . . 30
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 412
3536, 64, 68, 75

. . . . . . . . . . . . . . . . . . . . . . . 103

. . . . . . . . . . . . . . . . . . . . . . 177
. . . . . . . . 371, 433, 435

(two-part
tariff) . . . . . . . . . . . . . . . . . . . . . . . 476, 486
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 642
. . . . . . . . . . . . . . . . . . . . . . . . . . . 272
. . . . . . . . . . . . . . . . . . . . . . . . 642
(discount
factor) . . . . . . . . . . . . . . . . . . . . . . . . . . . 673
(price
discrimination) . . . . . . . . . . . . . . . . . . . 471
(second-degree) . . . . . . . 479
. . . . . . . . . . 486
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 479
. . . . . . . . 480, 481
. . . . . . . . . . . . . . . 480, 486
(ideal discrimination) . . . . 473
. . . . . . . . . . . 478
[dash/]
(take-it-ot-leave-it) . . . . . . . . . . . . . . . 476
. . . . . . . . . . . . . . . . . . . . 473
(nonlinear
pricing) . . . . . . . . . . . . . . . . . . . . . . . . . . 475
(first-degree) . . . . . . . . . . 472
(third-degree) . . . . . . . . 491
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 472

(differentiated
products) . . . . . . . . . . . . . . . . . . . . . . . . . 535

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 391
. . . . . . . . . . . . . . . . . . . 434
. . . . . . . . . . . . . 410, 417
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 623
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 622
. . . . . . . . . . . . 177, 671
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
178
(dominant
strategy) . . . . . . . . . . . . . . . . . . . . 420, 623
. . . . . . . . . 158
. . . . . . . . . . . . 129
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 369
. . . . . . . . . . . . . . . . . . . . . . 5960
(duopoly) . . . . . . . . . . . . . . . . . . . . . . . . 498
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500
(Stackelberg duopoly)
518
. . . . . . . . . . . . 252, 253, 261, 266

. . . . . . . . . . . . . . . . . . . . 61, 160
. . . . . . . . . . . . . . . . . . . . . 151
. . . . . . . . . . . . . . . 62, 164, 168, 406
. . . . . . . . . . . . . . . . . . . . . . . . . 88, 9294

. . . . . . . . . . . . . 8990, 120

. . . . . . . . . . . . . . . . . . . . . . . . . . 91
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 618
. . . . . . . . . . . . . . . . . . . 448
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 672
. . . . . . . . . 674
. . . . . . . . . . . . . . . . . . . . . 673
. . . . . . . . . . . . . . . . . . . . . 624
. .
641, 651

. . . . . . . . . . . . . . . . . . . . . . . . 662
(infinitely
repeated game) . . . . . . . . . . . . . . . . . . . 674
. . . . . . . . . . . . . . . 643
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 661
. . . 619, 622, 626, 660
. . . . . . . .
641
. . . . . . . . . . . . . 672
. . . . . . . . . . . . . . . . . . . . . .
642
. . . . . . . . . 665

(dynamic game of incomplete
information) . . . . . . . . . . . . . . . . . . . . . . 665
. . . . . . . . . . . . . . . . . . . . . 631, 663
(finite) . . . . . . . . . . . . . . . . . . . . 632
697
. . . . . . . . . . 630

. . . . . . . . . . . . . . . . . . . . . . 654
(bank runs) . . . . . . . . 654
. . . . . . . . . . . 620
. . . . . . . .
624
- . . . . . . . . . . . . . 620
(repeated game) . . .
672
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 644
(game with perfect
recall) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 652
. . . . . . . . . . . . . 619

(game of almost perfect
information) . . . . . . . . . . . . . . . . . . . . . . 654
(game of
perfect information) . . . . . . . . . 643, 652
. . . . . . . . . . . . . . . . . . . . . . . .
619
. . . . . . . . . . .
658

(static game of incomplete
information) . . . . . . . . . . . . . . . . . . . . . . 658
. . . . . . . . . . . . . . . . . . . . . . . . . .
665
(barganing) . . . . . . . . . . . . . . . . . . . . 675
(player) . . . . . . . . . . . . . . . . . . . . . . . . . 620, 658
. . . . . 651
. . . . . . . . . 167
. . . . . . . . . . . . . 167
335
(consumers surplus) . . 222,

476
(gross surplus) . . . . . . . . . 493
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 149
. . . . . . . . . . . . . . . . . . . . . . . 251, 261
. . . . . . . . . . . . . . . . . . . . . . . . 111
(Lerner index) . . . . . . . . . . . . 462
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111
(welfare
function) . . . . . . . . . . . . . . . . . . . . . . . . . 217
. . . . . . . . . . . . . . . . . . 112
. . . . . . . . . . . . . . . . . . . . 586
(information
set) . . . . . . . . . . . 651, 652, 654, 666, 667
. . . 10
(outcome) . . . . . . . . . . . . . . . . . . . . . 620

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69
(cartel) . . . . . . . . . . . . . . . . . . . . . . . 526, 529
. . . . . . 31
. 458
. . . 36, 112

(quasi-linear utility function) . . . . . 211
. . . . . . . . . . . . 363, 458

(consumers
problem) . . . . . . . . . . . . . . . . . . . . . . . . . 219
(welfare
function) . . . . . . . . . . . . . . . . . . . . . . . . . 217

(quasi-linear preferences) . . . . 211, 219

(quasi-linear separable
preferences) . . . . . . . . . . . . . . . . . . . . . . 220
. . . . . . . . . . . . . . . . . . . . . . . . . . 419
. . . . 3637, 112
. . . . . . . . . . . . . . 95

. . . . . . . . . . . . . . . 113, 114
. . . . . . . . . . . . . . . . . . . . . . . . . . . 202
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 345, 369
. . . . . . . . . . . . . . . . . . . . . . . 157
(collective good) . . . . . . 384
. . . . . . . . . . . . . . . . . 96
. . . . . . . . . . . . . . . . . . . . . . . . 394
. . . . . . . . . . . . . . . . . . 100
. . . . . . . . . . . . . . . . . . . . . . . . . 54
(finite game) . . . . . . . . . . . . . . . 632
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 404, 410
. . . . . . . . . . . . . 242, 248, 283
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 385
. . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 185
. . . . . . . . . . . . . 359, 366

. 6162, 78,
124
. 13, 22, 24,
29
. . . . . . . . . . . . . . . . . . . . . . . . . 137
. . . . . . . . . 8081, 83, 84, 97, 115
, . . . 151
. . . . . . . . . . . . . . . . . . . . . . . 518
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 440, 441

. . . . . . . . . . . . . . 2931, 62

. . . . . 132
. . . . . . . . . . . . . . . . . . . . . . . . . . 232, 233, 242
. . . . . . . . . . . . . . . . . 88, 100, 102

. . . . . . . . . . . . . . . . . . . . . . . . . 421
. . . . . . . . . . . . . 61, 69, 75
. . . . . . . .
. . . . . . . . . . 84, 92, 116, 120, 121
. . . . . . . . . . . . . . . . . . . 414

. . . . . . . . . . . . . . . . . . . . . . . . . . . 59
. . . . . . . . . . . . . . . . . 1719
698
. . . . . . . . . 234
. . . . . . 6, 8
. . . . . . . . . . 89

. . . . . 165, 167, 187, 202

. . . . . . . . . . . . . . . . . . . . . 152
. . . . . . . . . . . . . . . . . . . . . . . . 148
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 148
(general equilibrium
model) . . . . . . . . . . . . . . . . . . . . . . . . . . . 162
(monopoly) . . . . . . . . . . . . . . . . . . . . . 458
. 2526, 2931, 38,
111
(moral hazard) . . . . . . . . . . . 442
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 419
. . . . . . . . . . . . . . . . . . . . . . . . . . . 366, 369
(unit tax) . . . . . . . . 310
(ad valorem
tax) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 310
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 349
. . . . . . . . . . . . . . . . . . . . 347
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30
. . . . . . . . . . . . . . . . . . . . 157
. . . . . . . . . . . . . . . . . . . . . . . . . . . 59
, . . . . . . . . . . . . . . . . . . . . . . . . 373
, (take it or leave it) . . . . 436
. . . . . . . . . . . . . . . . . . . 440
. . . . . . . . . . . . . . . . 294

. . . . . . . . . . . . . . . . . . . . . 335

. . . . . . . . . . . . . . . . . . . . . 234
(non-excludability) . . . . . . 384
. . . . . . . . . . . . . . . 243, 245
(non-rivalness) . . . . . . . . . . 384

. . . . . . . . . . . . . . . . . . . . . . . 129
. . . . . 1318, 21,
4446, 49, 61, 105
. . . . . . . . . . . . . 45, 5153
2224, 27, 29, 54,
111
. . . . . . . . . . . . . . . . . . . . . . . . . . . 243
. . . . 45, 5153
. . 94
6668, 94, 114,
120
. . . . . . . . . . . . . . . . . 109110
1314, 16,
2021, 51, 53
. . 4950, 5355,
79

. . . . . . . . . . . . . . . . . . . 531
. . . . . . . . . 17, 23
(normal form) . . . 620
. . . . . . . . . . . . . . . . . . 8788, 102
. . . . . . . . . . . . . . . . . . . . . . . . . . 233
. . . . . . . . . . . . 232
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 286

. . . . . . . . 42, 52, 108109
(backward induction) . 642,
654, 666, 668
. . . . . . . . . . . . . . . . . . . . . . . . . . 163
. . . . . . . . . . . . . . . . . 171, 197
. . . . . . . 201
. . . . . . . . . . . . 172, 201

. . . . . . . 202
(common
knowledge) . . . . . . . . . 626, 627, 642, 654
. . . . . . . . . . . . . . . . . . . . . . . 384
(public good) . . . . . . . . . 384
. . . . . . . . . . . . . . . 413
. . . . . . . . . . . . . . . 36, 62, 681
. . . . . . . . . . . . . 360, 379
. . . . . . . . . . . . . . . 231, 235
(expected payoff) . . . 621,
632, 659, 660
(oligopoly) . . . . . . . . . . . . . . . . . . . . . 498
. . . . . . . . . . . . 518
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 526
. . . . . . . . . . . . . . . . . . . 533
. . . . . . . . . . . . . . . . . . . . . . 499
(price
leadership) . . . . . . . . . . . . . . . . . . . . . . . 545
. . . . . . . . 213215, 671
. . . . . . . . . . . . . . . . . . . . 380
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69

. . . . . . . . . . . . . . . . . . . . . . 132
. . . . . . . . . . . . . . . . . . . . 128
. . . . . . . . . . . . . . . . . . . . . .
128
. . . . . . . . . . . . . . . . . . . . 128, 132
. . . . . . . . . . . . . . . . . . . . . . . . . 132
(response) . . . . . . . . . . . . . . . . . . . . . . . . . . 629
. . . . . . . . . . . . . . . . . . . . 14
. . . . . . . . . . . . . . . . . . . 243, 244
. . . . . . . . . . . . . . . . . 567

. . . . . . . . . . . . . . . . . . . . . . . . 10
. . . . . . . . . . . . . . . . . 127
. . . . . . . . . . . . . . . . . . . . . . . . 534
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 290
. . . . . . . . . . . . . . . . . . . . . . . . 309
699
. . . . . . . . . . . . . . . . . . . . . . . . . 373
. . . . . . . . . . . . . . 375, 527
(behavior
strategy) . . . . . . . . . . . . . . . . . . . . . . . . . 656
(repeated game) . . . . . 672
(subgame) . . . . . . . . . . . . . . . . . . . 648, 653
(proper) . . . . . . . . . . . . . . .
648
. . . . . . . . . . 19, .
, 20
. . . . . . . . . . . . . . 10
. . . . . . . . . . . . . . . . . . . . . . . . . . . 292
. . . . . . . . . . . . . . . . . . . 5354
. . . . . . . . . . . . . . . . . . . . . . . . . . . 158, 164
. . . . . . . . . . . . . 682
. . . . . . . . . . . . . . 682
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 252
. . . . . . . . . . . . . . . . . . . . . . . 442, 453
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159
. . . . . . . . 97, 113, 114
. . . . . . . . . . . . . . . . . . 8, 59
. . . . . . 67, 1819, 46, 47, 5254
. . . . . . . . . . . . . . . . . . . . . .
56
. . . . . . . . . . . 3435, 65
. . . . . . . . . . . . . . . . . . . . . . 139
. . . . . . . . . 67, 9, 13, 49, 51, 53, 54
. . .
. . . . . . . . . . . . . . . . . . . . . . 56

. . . . . 236

. . . . . . . . . . . . . . . . . . . . . . . . . . 238

. . 240

239
. . . . . . . . . . . . . . . . . . . . . . . . . 644
. . . . . . . . . . . . . . . . . . . . . . . 255, 276
. . . . . . . . . . . . . . . . . . . . . . . . . 134, 151, 161
. . . . . . . . . . . . . . . . . . . . . . . . . . . 6
. . . . . . 230
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161
. . . . . . . . . . . . . . . 130

. . . . . . . . . . . . . . . . . . . . . . . 131
(production
function) . . . . . . . . . . . . . . . . . . . . . . . . . 158
. . . . . . . . . . . . . . . . . . . . . . . . 132, 158

(proportional-rationing rule) . . . . . . 538
. . . . . . . . . . . . . . . . . . . . . . . . . . . 232
. . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
534
165
499
403

(Nash equilibrium) . . . . . . . 628, 629
. . . . . . . . . . . . . . . . . . . . . 660
. . . . . . . . . . . . . . . . . . . . . . 518
. . . . . . . . . . . . . . . . . . . . . . . . . 660
. . . . . . . 623
. . . . . . . . . . . . . . . . . . . . . . . . . . 459
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165
. . . . . . . . . . . . . . . . . . . . 413

. . . . . . . . . . . . . . 391
. . . . . . . 417
. . . . . . . . . . .
649
(extensive form) 643
. . . . . . . . . . . . . . . . . . . . . . . . . 442
. . . . . . . . . 632, 656
. . . . . .
. . . . . . . 4047, 57, 107109, 123
. . . 67, 14, 21, 42, 45, 123, 618,
623, 626628, 642, 648, 659, 666
. . . . . . . . . . . 16, 2021, 45, 4955
(representative
consumer) . . . . . . . . . . . . . . . . . . . . . . . . 227
. . . . . . . . . 154
. . . . . 10
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 243, 245
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 243, 245
. . . . 432
. . . . . 354, 358, 360, 366, 370
. . . . . . . . . . . . . . . . . . . . . . 277

. . . . . . . . . . . . . . . . . . . 435
(self-selection
constraint) . . . . . . . . . . . . . . . . . . 480, 481
. . . . . . . . . . . . . . . . . . . . . 127
(collusion) . . . . . . . . . . . . . . . . . . . . . . . . . . 526
. . . . . . . . . . . . . . . . . . . . . . . 641, 651
. . . . . . . . . 3738
. . . . . . . . . . . . . . . . . . . . . . . . . 442
. . . . . . . . . . . 125
. . . . . 10
. . . . . . . . . . . . . . . . . . . . . . . . . 6, 18

. . 4546, 53, 6364, 90,
120, 125
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 372
(random moves by
nature) . . . . . . . . 620, 644, 658, 664, 665
(mixed strategy) 632, 656

. . . . . . . . . . . . . . . . . . . . . . 663
(proper subgame) . . . . 648
(perfect
competition) . . . . . . . . . . . . . . . . . 507, 534
(perfect
Bayesian equilibrium) . . . . . . . . . . . . 666
700
(subgame
perfect equilibrium) . . . . . . . . . . . . . . 649
(perfect markets) . . . . . 157
. . . . . . . . . . . . . . . . . . . . . . . 230, 283
. . . . . . . . . . . . . . . . . . . . . . 158
. . . . . . . . . . . . . . . 309
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61, 69
. . . . . . . . . . . . . . . . . .
461, 492
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 373
. . . . . . . . . . . . . . 56
. . . . . . . . . . . . 554
. . . . . . . . . . . . 56
(strategy) . . . . . . . . . . . . . . . . . . 619, 620
. . . . . . . . . . . . . . 659

. . . . . . . . . . . . . . . . . . . . 653

. . . . . . 646
. .
659
(dominant) . . . . . . . . . 623
(behavior strategy) . . 656
. . . . . . . . . . . . . . . . . . . . . 632, 656
(strictly dominated
strategy) . . . . . . . . . . . . . . . . . . . . . . . . . 626
. . . . . . . . . . . . .
622
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 632
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 249
. . . . . . . . . 31
26, 2931
(strictly
dominated strategy) . . . . . . . . . . . . . . 626
. . . . . . . . . 622
. . . . . . . . 178
. . . 1314, 16

. . . . . . . . . . . . . . . . . . 202
. . . . . . . . . . . . 171, 197
. . . . . . . . 201
. . . . . . . . . . .
172, 201
. . . . 2027,
5455
(rationing scheme) 538
. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
259
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
(Mutual Fund
Theorem) . . . . . . . . . . . . . . . . . . . . . . . . 278
. . . . . . . . 254, 272, 277
. . . . . . . . . . . . . . . . . . . . . . . 277
. . . . . . . . . . . . . . . . 107, 109111
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 683
. . . . . . . . . . . . . . . . . . . . . . . . . . 681
. . . . . . . . . . . . . . . . . . . . . . . . . 681
. . . . . . . . . . . . . . . . . . . . . 681
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 681

. . . . . . . . . . . . . . . . . . . . 185, 186, 406
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 406
. . . . . . . . . . . . . . . . . . . . . 7374
. . . . . . . . . . . . . . . . . 7374

. . . . . . . . 339
. . . . . . . . . . . . . . . . . . . . 682
. . . . . . . . . . . . . . . . . . . . . . 681
. . . . . . . . . . . . . . . 127

. . . . . . . . . . . . . . . . . . . . . . . . 130
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 127
. . . . . . . . . . . . . . . . . . . . . . . 129
. . . . . . . . . . . . . . . . . . . . . . . . . 129
. . . . . 129
. . . . . . . . . . . . . . . . . . . . . . . . 127
. . . . . . . . . . . . . . . . . . . . . . 129
. . . . . . . . . . . . . . . . . . . . . . . . . . . 127
. . . . . . . . . . . . . . . . 128
. . . . . . . . . . 127
. . . . . . . . . . . . . . 127
(type) . . . . . . . . . . . . . . . . . . . . . . . . . . 658
. . . . . . . . . . . . 88, 89, 92, 100, 102
. . . . . . . . . . . . . . . . . . . . . 82, 86, 114
. . . . . . . . . 30, 75
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 373, 433, 436
(barganing) . . . . . . . . . . . . . . . . . . . . . . . . . . . 675
. . . . . . . . . . . . . . . . . . . . . . . . . 379
. . . . . . . . . . . . . . . . . . . . . . . . . 375, 527
. . . . . . . . . . . . . . . . . . . . . . . . . . . 333
. . . . . 10
. . . . . . . . . . . . . . . . 377
(Harberger
triangle) . . . . . . . . . . . . . . . . . . . . . . . . . . 468
(trigger strategy) . . . 674
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
. . . . . . . . . . . . . . . . . . . . . . . 313
. . . . . . . . . . . . . . . . . . . 387
. . . . . . . . . . . . . . . . . . . . 83, 93

. . . . . . . . . . . . . . . . . . . . 108
. . . . . . . . . . 435
. . . . . . . . . . . . . . . . . . . . . . . . . . . 434
(self-selection
conditions) . . . . . . . . . . . . . . . . . . . . . . . 576
- . . . . . . . . . . . . . 242, 248
(participation constraint) 473,
480, 486
(market failures) . . . . . . . . . . . . 157

. . . . . . . . . . . . . . . . . . . . . . . . . . 681
. . . . . . . . . . . . . . . .
679, 680
701
. . . . . . . . . . . . . . . 680
. . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . 149
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 150
(cost function) . . . . . . . . . 211
. . . . . . . . . . . . . . . . . . . . 1920
. . . . . . . . . . . . . . . . . 231, 235, 243
. . . . 231, 234,
235, 237, 243, 285
. . . . . . . . . . . . . . . . . . . . . . 54, 79
. . . . .
.

. . . . . . . . . . . . . 231, 235, 243
. . . . . . . . . . . . . . . . . . . . 152
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 137

. . . . . . . . . . . . . . . . . . . . . . . . . . . . 136
. . . . . . . . . . . . . 7172, 115, 121

. . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

. . . . . . . . . . . . . . . . . . . . . . . . 150
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 150

. . . . . . . . . . . . . . . . . . 6970, 75
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59
. . . . . . . . . . . . . . . . . . . 385
(price
discrimination) . . . . . . . . . . . . . . . . . . . 471
. . . . . . . . . . . . . . . . . . . . . . 532
. . . . . . . . . . . . . . . . . . . . . . . . . 545

(marginal cost pricing) . . . . . . . 511, 533
. . . . . . . . . . . . . . . . . . . . . . . . 59, 458
(partial equilibrium) . .
(pure strategy) . . . . . . . . . .
(deadweight
loss) . . . . . . . . . . . . . . . 219, 467, 484,
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
211
632
489
127
. . . . . . . . . . . . . . . . . . . 95
. . .

. . . 202
. . . . . . . . . . . . . . . . . . . . 202
. . . . . . . . . . . . . . . . . . . . . . . . 164
. . . . . . . . . . . . . . . . . . . . . . . . . 159
. . . . . . . . . . . . . . . . . . . . . . . . . 163
. . . . . . . . . . . . . . . . . . . . . . . . 163

. . . . 172, 201
. . . . . . . . . . . . . . . . . . . . . . . 283
. . . . . . . . . . . . . . . . 165
. . . . . . . . . . . . . . . . . . . . . . . . . . 157, 332
(elasticity) . . . . . . . . . . . . . . 461, 492
. . . . . . . . . . . . . 85
. . . . . . . . . . . . . . . 85
. . . . . . . . . . . . . . . . . . . . . . 36, 64, 87
. . . . . . . . . . . . . . . . . 93, 94, 99, 100
. . . . . . . . . . . . . . . . . . . . 93, 94, 100

. . . . . . . . . 129, 130, 134, 140
. . . . . . . . . . . . . . . . . 129

(efficient-rationing rule) . . . . . . . . . . 539
. . . . . . . . . . . . . . . . . . . . . . . . . 277

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. . , . . , . .

u(.), u(x) > u(y) x  y

, --. , : (), (), (), (, ) . , x

(1)  < (P1).

(i)  ( ) , < (P1),

(i) I(x), I(y) ,

G. Debreu: Representation of a Preference Ordering by a Numerical Function, in Decision Processes,

(3) (1) {xn },

/ 27. 2.1 , , < =  . .

(a) f (x) = x2 ; (b) f (x) = x3 + x; (c) f (x) = x; (d) f (x) = ex .

z | Hz = 2z1 z2 = 2 xx21 (z1 )2 6 0. ,

x0i x00i i- , x0 x00 ,

. K. J. Arrow and A. C. Enthoven: Quasi-Concave Programming, Econometrica 29 (1961): 779800.

M RS12 (x) M RS12 (x)

/ 66. -: u(x) = ui (xi ), ui () . ,

{(A1 , x1 ), (A2 , x2 ), . . . , (AN , xN )} , X(n) = {xi }i=1,...,n

. K. J. Arrow: Rational Choice Functions and Orderings, Economica 26 (1959): 121127.

h, <, i C(A) (a). C (A), ,

: , , h, <, i , , (, , <)

/ 69. X = {a, b, c, d,e,f }. :

h, <, i , h0 , <0 , 0 i, ,

X Rl h, <, i, < ( Rl Rl ). : X X R,

d (y, x), y < x.

. . W. J. Shafer: The Nontransitive Consumer, Econometrica 42 (1974): 913919. . 120

C({x, y}) = C({y, z}) = C({z, x}) =

C({x, y}) = C({y, z}) = C({z, x}) = 12 , 12

p Rl++ , R > inf xX px .

v(p1 , R1 ) > u(x), x . ,

u(h) > u(x),

u(h) > u(x),

, , , x = x(p, R) p Rl++ R > 0, ,

ahh2 = pp12 h2 = a pp12 h1 . h1 + a h2 = u(x), h1 +

, u(h(p, x)) = u(x). ,

e(p, x), u(x) = x1 +

tp1 tp2 (u(x))2

2a2 p22 (u(x))2

x1 +a x2 , , , (u(x))2 > (u(y))2

)), . . h p h x(p, e(p, x

v(p, e(p, x)) = u(x),

h(p,x) = x(p, e(p, x)) =

= (1, 1), p Rl++ .

(h) u(x) = min{x1 , x2 };

/ 107. u = Ax12 (A > 0), x1 > 0, 0 6 x2 < A.

/ 108. [ABB] u(x, y, z) = x + y + y + z/(1 + z).

j6=i pj hj (pi , pi , x) e(pi , pi , x) pi . ,

(pi , e(p , x)) ( A ). ,

v(p, e(p, x)) v(p, e(p, x))

h1 (p, x(p, R))

i (p, R)EiR (p, R) = 1.

, x0 B(p, px0 ). , x B(p0 , R), x x(p0 , R) (. (vi) 23 . 67), ,

. 3.7. p01 > p11 , p02 = p12 = 1

x = x1 x0 = [x1 x(p1 , p1 x0 )] + [x(p1 , p1 x0 ) x0 ].

(q) = (q, p1 , R1 ) (q, p0 , R0 ) = e(q, x(p1 , R1 )) e(q, x(p0 , R0 )) = e(q, x1 ) e(q, x0 ),

, , ??, , e(p, x) = u(x) s(xl (pl )) +

(q, p, R) = v(p, R) s(xl (ql )) + ql xl (ql ).

p01 p02 (p12 + a2 p11 )

p11 p12 (p02 + a2 p01 )

. 3.8. R0 = R1 = R, p01 > p11 , p02 = p12 = 1

h1 (t, x)dt = e(p01 , x) e(p11 , x).

, p01 > p11 , (

h(p01 ,x0 )=x0

h(p11 ,x1 )=x1

CVi (p0 , Ri , p1 , Ri ) > 0.

, {Ri0 }: i Ri0 6 i Ri ), vi (p1 , Ri0 ) >

u(.), u(x) > u(y) x y

(1) < (P1).

(i) ( ) , < (P1),

/ 27. 2.1 , , < = . .

h, <, i C(A) (a). C (A), ,

: , , h, <, i , , (, , <)

h, <, i , h0 , <0 , 0 i, ,

X Rl h, <, i, < ( Rl Rl ). : X X R,

l > 1 m > 1 . {i , <i , i } Xi , i . , ,