We present some simple utility functions whose Marshallian demand functions possess the Giffen property: at some price-wealth pairs, the demand for a good marginally increases in response to an increase in its own price. The utility functions satisfy standard preference properties throughout the usual consumption set of nonnegative bundles: continuity, monotonicity, and convexity.
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Paper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number
04-22.
Length: 10 pages Date of creation: Oct 2004 Date of revision: Handle: RePEc:kud:kuiedp:0422
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