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A Child Garden of Concrete Giffen Utility Functions: A Theoretical Review

In: New Insights into the Theory of Giffen Goods

Author

Listed:
  • Wim Heijman

    (Wageningen Universiteit)

  • Pierre Mouche

    (Wageningen Universiteit)

Abstract

We present a theoretical review of the literature on concrete utility functions for Giffen and inferior goods within the context of the utility maximisation problem under a budget restriction and provide new functional forms. The presentation is organised around the specific properties such utility functions have. These properties include strict increasingness, quasi-concavity, and the applicability of Gossen’s second law.

Suggested Citation

  • Wim Heijman & Pierre Mouche, 2012. "A Child Garden of Concrete Giffen Utility Functions: A Theoretical Review," Lecture Notes in Economics and Mathematical Systems, in: Wim Heijman & Pierre Mouche (ed.), New Insights into the Theory of Giffen Goods, pages 69-88, Springer.
    • Handle: RePEc:spr:lnechp:978-3-642-21777-7_6
    DOI: 10.1007/978-3-642-21777-7_6
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    Citations

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    Cited by:

    1. Massimiliano Landi, 2014. "A Class of Symmetric and Quadratic Utility Functions Generating Giffen Demand," Working Papers 21-2014, Singapore Management University, School of Economics.
    2. Landi, Massimiliano, 2015. "A class of symmetric and quadratic utility functions generating Giffen demand," Mathematical Social Sciences, Elsevier, vol. 73(C), pages 50-54.
    3. Franks, Edwin & Bryant, William D.A., 2018. "The Uncompensated Law of Demand in an exchange economy," Economics Letters, Elsevier, vol. 168(C), pages 127-131.

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