The last word on Giffen goods?
AbstractGiffen goods have long been a minor embarrassment to economics. While it is customary to dismiss them as empirically irrelevant, this essay argues that a more fundamental difficulty with Giffen goods has somehow been overlooked.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 11 (1998)
Issue (Month): 2 ()
Note: Received: March 20, 1996; revised version: February 3, 1997
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
Other versions of this item:JEL classification:
- B4 - Schools of Economic Thought and Methodology - - Economic Methodology
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
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- Dougan, William R, 1982. "Giffen Goods and the Law of Demand," Journal of Political Economy, University of Chicago Press, vol. 90(4), pages 809-15, August.
- Vives, Xavier, 1987. "Small Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand," Review of Economic Studies, Wiley Blackwell, vol. 54(1), pages 87-103, January.
- Peter Sørensen, 2007.
"Simple Utility Functions with Giffen Demand,"
Springer, vol. 31(2), pages 367-370, May.
- Daniel Friedman (University of California at Santa Cruz) József Sákovics (The University of Edinburgh), 2014. "Tractable Consumer Choice," ESE Discussion Papers 240, Edinburgh School of Economics, University of Edinburgh.
- Junko Doi & Kazumichi Iwasa & Koji Shimomura, 2009. "Giffen behavior independent of the wealth level," Economic Theory, Springer, vol. 41(2), pages 247-267, November.
- 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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