Lec 2: Preferences and Utility Function

MIT 14.01 Principles of Microeconomics, Fall 2023 Instructor: Prof. Jonathan Gruber View the complete course: https://ocw.mit.edu/14-01F23 YouTube Playlist:    • MIT 14.01 Principles of Microeconomics, Fa...   In this lecture, Prof. Gruber talks about where consumer decisions come from, beginning with consumer preferences. He then builds on these concepts to explain the utility function, which is a mathematical expression of consumer preference. Keywords: micoreconomics, consumer demand, preferences, utility function License: Creative Commons BY-NC-SA More information at https://ocw.mit.edu/terms More courses at https://ocw.mit.edu Support OCW at http://ow.ly/a1If50zVRlQ We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.