The last word on Giffen goods?
Giffen 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.
Volume (Year): 11 (1998)
Issue (Month): 2 ()
|Note:||Received: March 20, 1996; revised version: February 3, 1997|
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References listed on IDEAS
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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.
- Xavier Vives, 1987. "Small Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand," Review of Economic Studies, Oxford University Press, vol. 54(1), pages 87-103.
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