Simple Utility Functions with Giffen Demand
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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| Length: | 10 pages |
| Date of creation: | Oct 2004 |
| Handle: | RePEc:kud:kuiedp:0422 |
| Contact details of provider: | Postal: Øster Farimagsgade 5, Building 26, DK-1353 Copenhagen K., Denmark Phone: (+45) 35 32 30 10 Fax: +45 35 32 30 00 Web page: http://www.econ.ku.dk Email: More information through EDIRC
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Moffatt, Peter G., 2002. "Is Giffen behaviour compatible with the axioms of consumer theory?," Journal of Mathematical Economics, Elsevier, vol. 37(4), pages 259-267, July.
- Christian E. Weber, 1997. "The Case of a Giffen Good: Comment," The Journal of Economic Education, Taylor & Francis Journals, vol. 28(1), pages 36-44, March.
- John H. Nachbar, 1998.
"The last word on Giffen goods?,"
Economic Theory,
Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(2), pages 403-412.
- John H. Nachbar, 1996. "The Last Word on Giffen Goods?," GE, Growth, Math methods 9602001, EconWPA.
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