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In Search of Giffen Behavior

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  • Gilley, Otis W
  • Karels, Gordon V
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    Abstract

    This paper develops a theory of Giffen behavior that results from a second rationing constraint. In contrast to standard analysis, this approach is virtually independent of the specific form of consumer preferences. The effect is first developed in a two-good world along with an example, then extended to a more general case to determine if the effect vanishes as the choice set is expanded. The results demonstrate that Giffen behavior is plausible when a second rationing constraint applies and, furthermore, adding additional goods to the choice set does not necessarily cause the effect to vanish. Copyright 1991 by Oxford University Press.

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    Bibliographic Info

    Article provided by Western Economic Association International in its journal Economic Inquiry.

    Volume (Year): 29 (1991)
    Issue (Month): 1 (January)
    Pages: 182-89

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    Handle: RePEc:oup:ecinqu:v:29:y:1991:i:1:p:182-89

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    Cited by:
    1. Robert T. Jensen & Nolan H. Miller, 2007. "Giffen Behavior: Theory and Evidence," NBER Working Papers 13243, National Bureau of Economic Research, Inc.
    2. Allgood, Sam, 2001. "Grade targets and teaching innovations," Economics of Education Review, Elsevier, vol. 20(5), pages 485-493, October.
    3. Jensen, Robert & Miller, Nolan, 2007. "Giffen Behavior: Theory and Evidence," Working Paper Series rwp07-030, Harvard University, John F. Kennedy School of Government.
    4. Yochanan Shachmurove & Janusz Szyrmer, 2011. "Sir Robert Giffen Meets Russia in Early 1990s," PIER Working Paper Archive 11-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    5. Di Vita, Giuseppe, 2001. "Are the outputs derived from secondary materials giffen goods?," Resources Policy, Elsevier, vol. 27(4), pages 255-260, December.

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