Giffen Goods, the Survival Imperative, and the Irish Potato Culture
AbstractThis paper modifies the modern explanation of Giffen behavior by incorporating the classical emphasis on subsistence. Specifically, the calculated redirection of consumption priorities by those reduced to subsistence levels is embodied in the utility function and the biological necessity of consuming sufficient nutrition to support health is modeled as a subsistence constraint. This methodology is then applied to the potato culture that existed in Ireland prior to the 1845-48 famine. It is suggested that the evolution of this culture was shaped by subsistence-driven behavior similar to the behavior that underlies the Giffen effect. Copyright 1994 by University of Chicago Press.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Political Economy.
Volume (Year): 102 (1994)
Issue (Month): 3 (June)
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- Allgood, Sam, 2001. "Grade targets and teaching innovations," Economics of Education Review, Elsevier, vol. 20(5), pages 485-493, October.
- 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.
- 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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