Tidbits & Reminders [4]

Completely forgotten that I had an unfinished shinyR project lying around and which, however unlikely I am to continue with R anytime soon, deserves at the very least to be mentioned in this category of tidbits & reminders.While forcing myself through the international edition (read : cheap from india) of Microeconomic Theory : Basic Principles and Extensions,some time ago now, I also attempted to replicate some basic principles using the reactive framework of Shiny.Pretty sure i never finished the book.The result is a hodgepodge of a shiny app containing the following :

  • Consumer Theory
    • Preferences
      • Cobb-Douglas
      • Slutsky Decomposition and Lump Sum Principle
    • Marshallian Demand Curves
      • Income held constant
    • Hicksian Demand Curves
      • Utility held constant
    • Comparing Demand Curves
    • Welfare Changes
      • Compensating Variation
      • Equivalent Variation
    • Income-Consumption Curve
      • Income effect
    • Choice Under Uncertainty
      • Quadratic Utility Function
      • Power Utility Function
      • General Exponential Utility Function
      • Log Utility
      • Hyperbolic Absolute Risk Aversion
  • Production & Supply
    • Production Function
      • Production Hill
      • Isoquant
      • Product curves
    • Cost Function
      • Choice of production function
        • Cobb-Douglas,Linear,Fixed Proportion,CES
      • Isoquant,Isocost,Output Expansion Path
      • Total cost curves
      • Long-run envelope & Short-run cost curves
      • Short run total/average cost decomposition
    • Short-run Profits & Surplus
      • Choice of production function
        • Cobb-Douglas,Linear,Fixed Proportion,CES
      • Substitution and Output effect

The list above is just taken from the titles/description/dropdownboxes found in the app itself and is not indicative of what the app can reliably do.Apart from being exceedingly slow most of the time,pretty sure the more exotic choices(eg : fixed proportion) do not work. Flashbacks of the computer being frozen for an hour or so are stopping me from testing which of these choices to avoid and recommend. Best to keep the production function choices to the cobb-douglas specification it defaults to in each case and keep slider changes small and slow.

For the brave and foolish,you can download the files here :  ui,server,helpers

For the more discerning of taste,a gallery of screenshots from the app follows:

 

Seeing these screen caps has reminded me of a host of other problems with this app :

  1. Changing the numbers too drastically may sometimes lead to strange plots.
  2. The Abs/Rel risk aversion graphs are strange and definitely wrong for certain cases.

Well.It is what it is.

 

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